21Vianet Q3 Profit Misses Estimate

(RTTNews) - 21Vianet Group, Inc. (VNET) reported net profit for the third quarter of RMB39.6 million orRMB0.54 per ADS, compared to a net loss of RMB13.2 million or RMB0.24 per ADS for the year-ago quarter.

Adjusted net profit for the third quarter was RMB16.0 million or RMB0.24 per ADS, compared to RMB29.2 million or $0.48 per ADS in the prior year quarter.

Net revenues for the third quarter rose 51.5% to RMB778.53 million from RMB514.02 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn RMB0.50 per ADS on revenue of RMB774.35 million for the third quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the Company expects net revenues to be in the range of RMB812 million to RMB848 million, representing approximately 61% growth year over year at the mid point. Analysts currently expect the company to post revenue of RMB901.06 million for the fourth quarter.