This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

21Vianet Group, Inc. Reports Unaudited Third Quarter 2013 Financial Results

Stocks in this article: VNET

3Q13 Net Revenues Up 29.8% YOY to RMB514.0 Million

3Q13 Adjusted EBITDA Up 25.5% YOY to RMB95.4 Million

Live Conference Call to be Held at 8:00 PM U.S. Eastern Time, November 25, 2013

BEIJING, Nov. 25, 2013 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq:VNET) ("21Vianet" or the "Company"), the largest carrier-neutral internet data center services provider in China, today announced its unaudited financial results for the third quarter of 2013. The Company will hold a conference call at 8:00 p.m. Eastern Time on November 25, 2013. Dial-in details are provided at the end of the release.

Third quarter 2013 Financial Highlights

  • Net revenues increased by 29.8% to RMB514.0 million (US$84.0 million) from RMB396.1 million in the comparative period in 2012.
  • Adjusted EBITDA 1 increased by 25.5% to RMB95.4 million (US$15.6 million) from RMB76.0 million in the comparative period in 2012.

Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, "During this quarter, we continued to focus on growing our core internet data center business as well as expanding our diversified client offerings, further strengthening our position as China's leading internet infrastructure provider. We are pleased to add 1,172 cabinets to our self-built data centers this quarter, bringing the total number of cabinets in our self-built data center to 8,576, or 64% of the total 13,307 cabinets under our management. In addition, new initiatives, such as our strategic joint venture with the Dongguan Municipal People's Government in Guangdong province to build a new internet data center in southern China, will further help us to develop our cloud computing services as well as China's own interconnection market. These initiatives are expected to further strengthen our position as a leading internet infrastructure and carrier-neutral data center services provider in China. As China's internet traffic and cloud services continue to grow, we are confident that our business model and on-going initiatives position us well to capitalize on future growth opportunities."

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs