VNET Group (VNET) shares are surging 6.26% in Friday's pre-market trading following two significant announcements that have bolstered investor confidence. The leading carrier- and cloud-neutral internet data center services provider in China has raised its full-year 2025 financial guidance and authorized a share repurchase program of up to $50 million.
The company has revised its total net revenues forecast for 2025 to range between RMB9,150 million and RMB9,350 million, representing a year-over-year growth of 11% to 13%. Additionally, VNET has increased its adjusted EBITDA (non-GAAP) guidance to between RMB2,760 million and RMB2,820 million, indicating a year-over-year growth of 14% to 16%. Excluding a RMB87.7 million disposal gain from 2024, the adjusted EBITDA growth is projected to be even more impressive at 18% to 20%.
VNET's Chief Financial Officer, Qiyu Wang, attributed the improved outlook to "faster-than-anticipated move-ins among wholesale IDC clients and ongoing operational efficiency gains." The $50 million share repurchase program, to be funded by existing cash, further signals management's confidence in the company's financial health and future prospects. These positive developments have evidently resonated with investors, as reflected in the significant pre-market stock price increase of 6.26%.
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