Vnet Group Reports Q2 Earnings, Higher Revenue; Shares Rise After Hours-February 2024-www.financetom.com

Vnet Group Reports Q2 Earnings, Higher Revenue; Shares Rise After Hours

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Vnet Group Reports Q2 Earnings, Higher Revenue; Shares Rise After Hours

Aug 29, 2024 9:05 AM

05:42 PM EDT, 08/27/2024 (MT Newswires) -- Vnet Group ( VNET ) reported Q2 earnings late Tuesday of 0.24 Chinese renminbi ($0.03) per diluted American depositary share, compared with a loss of 1.56 renminbi a year earlier.

Two analysts polled by Capital IQ expected a loss of 0.18 renminbi.

Revenue for the quarter ended June 30 rose to 1.99 billion renminbi from 1.82 billion renminbi a year earlier.

Two analysts surveyed by Capital IQ expected 1.93 billion renminbi.

The company said it continues to expect 2024 net revenue of 7.80 billion renminbi to 8 billion renminbi.

The consensus is for 7.88 billion renminbi.

Vnet ( VNET ) shares were up 5% in after-hours activity.

Price: 2.1000, Change: +0.10, Percent Change: +5.00

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