VNET Group reported a Q1 EPS loss of $0.02 per share, beating consensus of $0.03 and driving a 3.8% stock decline after revenue missed at $325.54 million versus $388.47 million expected. Wholesale data center revenue surged 58.1% year-over-year, making it VNET’s largest segment fueled by artificial intelligence demand.
VNET reported a first-quarter EPS loss of $0.02 per share, beating the consensus loss of $0.03, alongside revenue of $325.54 million which fell short of the $388.47 million estimate. Shares declined 3.8% following the revenue miss.
Wholesale data center revenue jumped 58.1% year-over-year to become the company’s largest segment, propelled by strong demand for artificial intelligence infrastructure and several large new customer orders.
VNET carries a trailing P/E ratio of -68.7 and a debt-to-equity ratio of 4.33, reflecting its leveraged structure, while its 0.92 current ratio suggests tight liquidity ahead. Management highlighted continued AI-driven expansion but faces pressure to improve retail segment performance.
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