VNET Group (VNET) Tops Q1 EPS by 1c
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VNET Reports First Quarter 2022 Unaudited Financial Results
May 24, 2022 4:30 PM EDTBEIJING, May 24, 2022 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral Internet data center services provider in China, today announced its unaudited financial results for the three months ended March 31, 2022.
First Quarter 2022 Financial Highlights
Net revenues increased by 18.6% to RMB1.65 billion (US$259.6 million) from RMB1.39 billion in the same period of 2021. Adjusted cash gross profit (non-GAAP) increased by 13.1% to RMB684.8 million (US$108.0 million) from RMB605.3 million in the same period of 2021. Adjusted cash gross margin (non-GAAP) was 41.6%, compared... More