VNET GROUP Reports Q2 FY2023 Earnings Results on August 23, 2023

August 31, 2023

🌥️Earnings Overview

VNET GROUP ($NASDAQ:VNET) released their earnings results for the second quarter of fiscal 2023, ending June 30 2023, on August 23 2023. Total revenue for this period amounted to CNY 1821.7 million, a 5.6% growth compared to the same quarter in the prior year. Net income reported was CNY -232.9 million, which is an improvement from the -377.2 million reported in the same quarter last year.

Market Price

On Wednesday, August 23, 2023, VNET GROUP reported its Q2 FY2023 financial results. These increases were driven by strong demand for their services, products and technology solutions and increased market share in their key markets. VNET GROUP’s management team was pleased with the results and attributed them to their ongoing investment in technology, their focus on customer satisfaction and their innovative approach to business. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Vnet Group. More…

    Total Revenues Net Income Net Margin
    7.32k -640.04 -5.2%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Vnet Group. More…

    Operations Investing Financing
    1.89k -3.7k 713.76
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Vnet Group. More…

    Total Assets Total Liabilities Book Value Per Share
    28.82k 21.91k 43.33
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Vnet Group are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    19.8% -5.8% -2.8%
    FCF Margin ROE ROA
    -9.1% -2.0% -0.5%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale conducted an analysis of VNET GROUP‘s wellbeing and the results show that according to Star Chart, VNET GROUP has an intermediate health score of 4/10. This indicates that VNET GROUP might be able to pay off debt and fund future operations. We classified VNET GROUP as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given the company‚Äôs financial health and growth potential, we suggest that investors looking for growth in their portfolio would be interested in VNET GROUP. In particular, VNET GROUP is strong in growth, medium in asset, profitability and weak in dividend, making it an attractive option for investors wanting to diversify their portfolio with companies that have a good chance of generating higher returns. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    In the business world, competition is inevitable. Companies are constantly vying for market share and trying to outdo their rivals. This is especially true in the tech industry, where new products and services are constantly being developed.

    One company that has been making waves in the tech world is VNET Group Inc. This company is a leading provider of cloud-based solutions and services. Its main competitors are DC Two Ltd, GDS Holdings Ltd, and Informatica Inc.

    So far, VNET Group Inc has been doing very well in the competition. Its products are innovative and its services are top-notch. However, its competitors are also very strong. It will be interesting to see how this competition plays out in the coming years.

    – DC Two Ltd ($ASX:DC2)

    DC Two Ltd is a UK-based company that provides IT services and solutions. It has a market cap of 3.81M as of 2022 and a Return on Equity of -73.27%. The company offers a range of services including cloud computing, data center management, and IT consulting.

    – GDS Holdings Ltd ($SEHK:09698)

    GDS Holdings Ltd is a leading provider of high-performance data center solutions in China. The company offers a full range of data center services, including colocation, cloud computing, network, and security. GDS Holdings Ltd has a market cap of 23.6B as of 2022 and a Return on Equity of 1.79%. The company is headquartered in Beijing, China.

    – Informatica Inc ($NYSE:INFA)

    Informatica Inc is a software company that specializes in data management solutions. The company has a market capitalization of 5.59 billion as of 2022 and a return on equity of 0.39%. The company’s products are used by organizations to track, manage, and analyze their data. Informatica’s products are used by companies in a variety of industries, including healthcare, finance, and retail.

    Summary

    VNET GROUP reported their second quarter fiscal year 2023 earnings results on August 23 2023, with total revenue of CNY 1821.7 million, a 5.6% increase compared to the same period last year. Net income reported was CNY -232.9 million, a decrease from the previous year. Following the announcement, the company’s stock price moved up on the same day.

    Overall, investors may be encouraged by the increase in revenue and the positive stock price movement, though negative net income may be a cause for concern. It is important for investors to conduct further research into VNET GROUP’s performance and outlook before deciding to invest in the company.

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