21Vianet Group Shares Slide 1.2% in After-Hours Despite Q3 Earnings, Revenue Beating Forecasts

21Vianet Group shares dipped 1.2% in after-hours trading Monday after the company reported Q3 earnings and revenue that beat the Street’s estimates.

Earnings for the quarter came in at a loss of RMB0.15, or $0.13 per share, topping the street consensus of a loss of $0.15 per share but dropping from RMB0.02 a year earlier.

Revenue for the quarter came in well above analysts’ expectations at RMB968 million, or $145.2 million, versus the anticipated $136.8 million. Revenue was up year-over-year from RMB924.1 million.

The company also updated its full-year guidance, saying it expects revenue to be between RMB3.64 billion and RMB 3.68 billion, up from the prior guidance of RMB3.62 billion to RMB3.66 billion. The Street anticipates revenue will likely be at $535.4 million, falling short of the converted guidance of $545.8 million to $551.8 million.

For Q4, the company said it projects revenue will be down year-over-year to between RMB900 million to RMB940 million versus RMB983.4 million a year earlier. Analysts forecast revenue for Q4 will be at $138.3 million, within the company’s guidance.

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