21Vianet Results Miss Estimates, Q2 Guidance Weak; Stock Down 7%

(RTTNews) - 21Vianet Group Inc (VNET), the Chinese integrated Internet infrastructure services company, on Tuesday reported first-quarter net loss to stockholders of 96.7 million renminbis or $15.6 million, compared with a loss of 151.8 million renminbis in the prior year.

Loss per American depositary share for the quarter was 1.38 renminbis or $0.22, compared with a loss of 2.28 renminbis last year.

Excluding items, adjusted profit per share for the quarter was 0.12 renminbis or $0.02, compared with a profit of 0.48 renminbis a year ago.

Revenues for the quarter were up 46.8% at 860.1 million renminbis or $138.7 million, compared with 586 million renminbis last year.

Analysts polled by Thomson Reuters expected earnings of 0.21 renminbis per share on revenues of $899.4 million for the quarter.

For the second quarter, the company expects revenues of 886 million renminbis to 922 million renminbis, while analysts expect 959.8 renminbis.

For the full year 2015, the company still expects revenues of 3.91 billion renminbis to 4.11 billion renminbis. Analysts expect revenues of 4 billion renminbis.