VNET Group, Inc. Sponsored ADR (VNET) has released an update.
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VNET Group, Inc. reported a 9.4% increase in total net revenues year over year to RMB 1.99 billion for Q2 2024, driven by a noteworthy 81% growth in wholesale revenue. The company also saw an impressive turnaround, posting a net income of RMB 71.8 million following a net loss in the previous quarter, bolstered by operational improvements and a strategy focused on AI data center development and high-quality revenue streams. These financial gains underscore VNET’s commitment to innovation and sustainable growth in the competitive data center services market.
For further insights into VNET stock, check out TipRanks’ Stock Analysis page.
