21Vianet Q3 2012 Profit Down 83% YoY
21Vianet PR, 11/15/12
Chinese Internet data center service provider 21ViaNet (Nasdaq: VNET) has released its financial results for the three months ended September 30, 2012. Q3 2012 revenues increased by 51.4% YoY to RMB 396.1 mln (USD 63.0 mln) from RMB 261.6 mln in same period in 2011.
Net profit for the quarter was RMB 12.2 mln (USD 1.9 mln), down 86.1% YoY from RMB 87.7 mln in the same period in 2011.
Net revenues from hosting and related services increased by 32.8% YoY to RMB 218.9 mln (USD 34.8 mln) in the third quarter of 2012 from RMB 164.8 mln in the comparative period in 2011, primarily due to an increase in the total number of cabinets under management in both the company's self-built and partnered data centers, which was attributable to growing customer demand.
Net revenues from managed network services increased by 83.0% YoY to RMB 177.2 mln (USD 28.2 mln) from RMB 96.8 mln in the comparative period in 2011. The increase was primarily driven by an increase in network capacity demand for data transmission services.
In November, 2012, 21Vianet entered into a strategic partnership agreement with Microsoft Corporation to expand Microsoft's premier commercial cloud services—Office 365 and Windows Azure—into China. Microsoft and 21Vianet will co-market the services targeting small-to medium-sized enterprises, multinationals, government agencies and others, which is expected to help further broaden 21Vianet's client base.
In September 2012, the company completed its acquisition of cloud computing-based content delivery network (CDN) provider Fastweb.
For the fourth quarter of 2012, the company expects net revenues to be in the range of RMB 413 mln to RMB 420 mln.
To view the complete report please see here.
Keywords: 21Vianet profit telecom VNET CDN cloud computing Internet data center Fastweb managed network services Q3 2012 revenue fiscal report
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