This Day On The Street
Continue to site right-arrow
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 First Quarter 2014 Financial Results

Stocks in this article: VNET

1Q14 Net Revenues Up 34.5% YOY to RMB586.0 Million

1Q14 Adjusted EBITDA Up 40.9% YOY to RMB112.9 Million

Live Conference Call to be Held at 8:00 PM U.S. Eastern Time, May 22, 2014

BEIJING, May 22, 2014 (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 first quarter of 2014. The Company will hold a conference call at 8:00 p.m. Eastern Time on May 22, 2014. Dial-in details are provided at the end of the release.

First quarter 2014 Financial Highlights

  • Net revenues increased by 34.5% to RMB586.0 million (US$94.3 million) from RMB435.7 million in the comparative period in 2013.
  • Adjusted EBITDA 1 increased by 40.9% to RMB112.9 million (US$18.2 million) from RMB80.1 million in the comparative period in 2013.
  • Adjusted EBITDA margin 2 increased to 19.3% compared to 18.4% in the comparative period in 2013.

Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, "We are off to a solid start in 2014, thanks to the groundwork we completed in 2013 for both our IDC and cloud businesses. With the addition of 1,033 cabinets to our self-built data centers in the first quarter, we're pleased to continue our structural shift to more self-built data centers. Following the public previews last year, we commercially launched Microsoft Azure in March 2014 followed by Office 365 in April 2014, delivering for the first time a comprehensive commercial suite of enterprise-grade public cloud services in China. During the quarter, we were able to secure thousands of clients for both services, while also migrating numerous large enterprises to long-term contracts, which will help us accelerate the growth of our cloud business revenues. As we remain on track to deploy a total of 10,000 cabinets by the end of 2014, bringing us to approximately 25,000 total cabinets, we believe that our partnership with Foxconn Technology Group will help us further hasten our efforts in IDC construction as well as developing innovative cloud services that target the Chinese market. We will continue to build upon the strong foundation we have established and are confident in our position as an integrated internet infrastructure services provider offering innovative products and solutions for our customers."

1 of 8

Select the service that is right for you!

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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • 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