Tue, Nov. 24, 4:10 PM
Mon, Nov. 23, 5:35 PM
Wed, Aug. 26, 5:22 PM
- Chinese data-center service provider 21Vianet Group (NASDAQ:VNET) is off 5.9% after hours after its Q2 results missed expectations on top and bottom lines. Shares had dropped 3.1% during market hours today.
- Net revenues were up nearly 32%, but net loss more than doubled from the prior year, as the company pointed to continued challenges with delayed new cabinet builds, bandwidth prices and organizational transition costs.
- Adjusted EBITDA of RMB149.4M ($24.1M) was up 13.2% but missed expectations of $27.4M.
- Revenue by segment: Hosting and related services, RMB643.7M (up 37.8%); Managed network services, RMB 223.1M (up 16.7%).
- The company also noted CFO Terry Wang has resigned from the board. It's appointed Sean Shao to the board as an independent director. Shao will chair the audit committee, and also joins the special committee to evaluate June's go-private proposal.
- Conference call to come at 8 p.m. ET.
- Press Release
Wed, Aug. 26, 4:14 PM
Tue, Aug. 25, 5:35 PM
Tue, May 26, 6:22 PM
- Chinese data-center provider 21Vianet Group (NASDAQ:VNET) is off 9.9% after hours, adding to today's 4.1% decline, after Q1 revenues missed expectations and the firm guided to the low side for Q2 results.
- EBITDA of about $26.9M was up 47.8% but missed an expected $28.2M (one analyst). Gross profit was up 43.4% to about $37.2M and a gross margin of 26.8%, down from a year-ago 27.4%.
- The firm had a GAAP net loss of $0.22/share; adjusting for share-based compensation, amortization and other effects, non-GAAP EPS was $0.02, in line.
- Revenue breakout: Hosting and related services, $613.2M yuan (up 51.6%); Managed network services, 246.88M yuan (up 36%).
- The company guided to Q2 revenues of 886M-922M yuan ($142.9M-$148.7M, vs. an expected $153.2M) and EBITDA of 152M-172M yuan ($24.5M-$27.7M, up about 23% at midpoint but lower than an expected $30.2M).
- Conference call at 8 p.m. ET.
- Press Release
Tue, May 26, 4:18 PM
Mon, May 25, 5:35 PM
Mon, Mar. 9, 6:16 PM
- 21Vianet's (NASDAQ:VNET) adjusted operating expenses rose 130% Y/Y in Q4 to $37.8M and made up 27.5% of revenue, up from 25.5% in Q3 and 18.7% a year ago. That, in turn, led EPS to miss estimates in spite of a revenue beat.
- On a non-adjusted basis, sales/marketing spend rose 107% to $16.1M, R&D rose 89.6% to $6.4M, and G&A rose 192.5% to $25.7M. Adjusted gross margin was 34%, even with Q3 and up from 29% a year earlier.
- Top-line numbers remained strong: Hosting and related service revenue rose 63.8% Y/Y to $96.1M thanks to data center cabinet, CDN, and cloud service growth; managed network service revenue rose 41.6% to $41.5M.
- Cabinet count rose 53% to 21,522, with 3,378 added in Q4 alone. A recent deal with investor/major cloud services provider Kingsoft will result in at least 5K cabinets being leased over the next 3 years.
- Revenue guidance is in-line: Q1 revenue of RMB883M-RMB924M (+54% Y/Y at the midpoint) vs. an RMB912.4M consensus, and full-year revenue of RMB3.91B-RMB4.11B (+45% at the midpoint) vs. a consensus of RMB3.98B.
- Shares have fallen to $16.52 AH. The 52-week low is $14.23.
- Q4 results, PR
Mon, Mar. 9, 4:12 PM
Sun, Mar. 8, 5:35 PM
Nov. 25, 2014, 5:00 PM
- Though it beat Q3 estimates, 21Vianet (NASDAQ:VNET) is guiding for Q4 revenue of RMB812M-RMB848M ($132.2M-$138.1M), +61% Y/Y at the midpoint but well below an RMB901.1M ($146.8M) consensus.
- Q4 adjusted EBITDA is expected to be in a range of RMB152M-RMB168M, and full-year adjusted EBITDA guidance has been cut to RMB551M-RMB567M from RMB600M-RMB630M.
- The guidance is attributed to the transition to VAT collection and revised expectations for 21Vianet's cloud and managed network services (MNS) businesses. SA author Trinity Research has asserted MNS runs ghost offices, and that its subsidiaries are operating illegally.
- Q3 hosting/related service revenue +52% Y/Y to $83.6M. MNS revenue +50.4% to $43.2M. Opex rose 21.1% to $23.3M.
- Q3 results, PR
Nov. 25, 2014, 4:13 PM
Nov. 24, 2014, 5:35 PM
Aug. 27, 2014, 4:05 PM
Aug. 26, 2014, 5:35 PM
21Vianet Group Inc is a carrier-neutral internet data center service provider. It provides hosting and related services, managed network services and cloud computing infrastructure services, improving the reliability, security and speed.
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