{"id":23664,"date":"2014-05-27T09:22:56","date_gmt":"2014-05-27T13:22:56","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=23664"},"modified":"2014-05-27T09:22:56","modified_gmt":"2014-05-27T13:22:56","slug":"21vianet-group-inc-nasdaqvnet-1q-profit-misses-estimates","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/21vianet-group-inc-nasdaqvnet-1q-profit-misses-estimates-23664","title":{"rendered":"21Vianet Group Inc (NASDAQ:VNET) 1Q Profit Misses Estimates"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/27\/2014 (wallstreetpr) \u2013\u00a0One of the biggest neutral internet data center service provider in China, <b>21Vianet Group Inc (NASDAQ:VNET)<\/b> announced a loss for the first quarter hurt by stock-based compensation charges and amortization expenses. However, on an adjusted basis, profit advanced year-over-year but fell short of the Wall Street analysts&#8217; expectations.<\/p>\n<p style=\"text-align: justify;\"><b>Q1 Results<\/b><\/p>\n<p style=\"text-align: justify;\">21Vianet Group Inc (NASDAQ:VNET)\u00a0\u00a0suffered a net loss of RMB151.4 million compared to a profit of RMB12.0 million in the year earlier quarter. In terms of USD, the loss was $24.4 million or a loss of 37 cents a share for the first quarter of the current year. On an adjusted basis, profit rose 6.1% to RMB33.0 million from RMB31.1 million in the year-ago quarter. In terms of USD, the adjusted profit for the first was $5.3 million or 8 cents a share. On average, analysts expected the company to report earnings of US$0.10 a share.<\/p>\n<p style=\"text-align: justify;\">Net revenues grew 34.5% to RMB586.0 million from RMB435.7 million. In USD terms, 21Vianet Group generated revenue of $65.1 million. The company attributed the growth in revenue to a higher number of cabinets under management, increased demand for its CDN services besides higher contributions from cloud services. Hosting and related services\u2019 revenue jumped 52.8% to RMB404.4 million from RMB264.7 million in the year-ago quarter.<\/p>\n<p style=\"text-align: justify;\">The company\u2019s adjusted gross margin improved to 29.2% from 28.8% in the previous year quarter and 29.0% in the preceding quarter as a result of increased utilization rates coupled with incremental contributions from cloud services.<\/p>\n<p style=\"text-align: justify;\">21Vianet Group said its total operating costs surged to RMB280.9 million from RMB89.2 million.<\/p>\n<p style=\"text-align: justify;\"><b>Outlook<\/b><\/p>\n<p style=\"text-align: justify;\">Moving ahead, 21Vianet Group Inc (NASDAQ:VNET)\u00a0\u00a0sees net revenues between RMB642 and RMB 658 million for the second quarter. This represents a growth of about 38% at the midpoint. For the full year 2014, the company expects it to be RMB2.71 \u2013 RMB2.85 billion thus suggesting an uptick of about 40% at the midpoint level from 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/27\/2014 (wallstreetpr) \u2013\u00a0One of the biggest neutral internet data center service provider in China, 21Vianet Group Inc (NASDAQ:VNET) announced a loss for the [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":23667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[4920,4921],"stock_ticker":[],"class_list":["post-23664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-21vianet-group-inc-nasdaqvnet","tag-nasdaqvnet","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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