Home / Business and Economy / VNET Group Surges 13% on Strong Q2 Revenue, Ambitious Expansion Plans
VNET Group Surges 13% on Strong Q2 Revenue, Ambitious Expansion Plans
23 Aug
Summary
- VNET Group revenue up 22.1% in Q2 2025
- Company swings to net loss of $11.98M in Q2 2025
- Targets 11-13% revenue growth to 9.15-9.35B yuan by 2025
In a recent development, VNET Group, Inc. (NASDAQ:VNET), a prominent data center service provider, has seen its stock surge by 12.94% on Friday, closing at $8.29 per share. This surge in stock price comes on the back of the company's strong revenue performance in the second quarter of 2025, which beat analyst expectations.
According to VNET Group's updated report, the company's net revenues increased by 22.1% to 2.43 billion yuan from 1.99 billion yuan in the same period last year, driven by a robust performance in its internet data center business. However, the company swung to a net loss attributable to shareholders of $11.98 million, a significant change from the $63.67 million attributable net profit recorded in the same period last year.
Looking at the first half of 2025, VNET Group's revenues grew by 20% to 4.68 billion yuan from 3.89 billion yuan year-over-year. Nonetheless, the company's net loss widened by 102% to 249 million yuan from 123 million yuan in the same period.
Despite the net loss, VNET Group's founder and Executive Chairman, Josh Sheng Chen, remains optimistic about the company's future. He stated that the company will "sharpen its competitive advantages with faster deliveries and consistently reliable IDC services" as it embarks on its ambitious "Hyperscale 2.0" framework for building greener and more intelligent data centers for the AI era.
For the full-year 2025, VNET Group has maintained its revenue target of 9.15 billion yuan to 9.35 billion yuan, representing a year-over-year growth of 11 to 13 percent.
