The earnings call highlighted robust growth in wholesale IDC business and strong financial performance, driven by new orders and AI demand. Despite short-term impacts from the H20 chip embargo and high CapEx requirements, the company remains confident in sustained demand and future growth potential.

Company Guidance -

Q1 2025

During the first quarter of 2025, VNET Group, Inc. reported substantial growth across various metrics, setting a positive tone for the year. The wholesale IDC business achieved a notable 18.1% increase in capacity in service, reaching 573 megawatts, with a utilization rate improvement to 76.2%. Wholesale revenues soared by 86.5% year over year, totaling RMB 673 million, while adjusted EBITDA rose by 26.4% to RMB 682 million, boasting a margin of 30.4%. The retail IDC business also contributed positively, with a capacity utilization rate of 63.7% and an MRR per retail cabinet of RMB 8,898. Financially, VNET maintained robust liquidity with total cash and cash equivalents of RMB 5.79 billion and strengthened its financing capabilities through a $430 million convertible senior notes issuance and a RMB 500 million sustainability-linked loan. The company reiterated its full-year guidance, expecting total net revenues to range from RMB 9.1 billion to RMB 9.3 billion and adjusted EBITDA between RMB 2.7 billion and RMB 2.76 billion, alongside a capital expenditure plan of RMB 10 billion to RMB 12 billion. Additionally, VNET made notable progress in ESG initiatives, achieving a fivefold increase in renewable energy usage and ranking first among Chinese enterprises in the IT service industry in the S&P Global Sustainability Yearbook.

Strong Wholesale IDC Business Growth

Wholesale capacity in service grew 18.1% quarter over quarter to 573 megawatts, and wholesale revenues reached a new record high of RMB 673 million, representing an 86.5% year-over-year growth.

Record Utilization Rates

Wholesale capacity utilized grew 23.9% quarter over quarter to 437 megawatts, with a utilization rate increase of 3.6 percentage points to 76.2%.

Robust Financial Performance

Total net revenues increased by 18.3% year over year to RMB 2.25 billion, and adjusted EBITDA increased by 26.4% year over year to RMB 682 million.

Successful New Orders and AI Demand

Secured new wholesale and retail orders, including a 6-megawatt wholesale order and 4 megawatts in retail orders, driven by AI and intelligent applications.

Strong Liquidity and Financing

Issued $430 million of convertible senior notes and secured a RMB 500 million sustainability-linked loan.

ESG Achievements

Total energy usage from renewable sources increased fivefold, accounting for 18% of total resources, and achieved top ESG ratings.

VNET Group, Inc. Sponsored ADR (VNET) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VNET Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 20, 2025	2025 (Q2)	<0.01 / -	0.24	―	―	―
May 28, 2025	2025 (Q1)	-0.02 / -0.02	-0.1	79.17% (+0.08)
Mar 12, 2025	2024 (Q4)	0.03 / >-0.01	-0.369	97.74% (+0.36)
Nov 20, 2024	2024 (Q3)	0.01 / 0.04	-0.401	110.42% (+0.44)
Aug 27, 2024	2024 (Q2)	-0.03 / 0.03	-0.217	115.38% (+0.25)
May 29, 2024	2024 (Q1)	>-0.01 / -0.10	0.059	-271.43% (-0.16)
Mar 27, 2024	2023 (Q4)	-0.08 / -0.37	-0.059	-530.95% (-0.31)
Nov 15, 2023	2023 (Q3)	-0.06 / -0.40	-0.401	0.00% (0.00)
Aug 23, 2023	2023 (Q2)	-0.06 / -0.22	-0.359	39.53% (+0.14)
May 24, 2023	2023 (Q1)	-0.04 / 0.06	0.084	-30.00% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VNET Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 28, 2025	$6.04	$5.39	-10.76%
Mar 12, 2025	$11.91	$11.00	-7.64%
Nov 20, 2024	$3.76	$4.33	+15.16%
Aug 27, 2024	$2.00	$2.36	+18.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does VNET Group, Inc. Sponsored ADR (VNET) report earnings?

VNET Group, Inc. Sponsored ADR (VNET) is schdueled to report earning on Aug 20, 2025, After Close (Confirmed).

What is VNET Group, Inc. Sponsored ADR (VNET) earnings time?

VNET Group, Inc. Sponsored ADR (VNET) earnings time is at Aug 20, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is VNET EPS forecast?

VNET EPS forecast for the fiscal quarter 2025 (Q2) is <0.01.

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