Investing.com - VNET DRC reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
VNET DRC announced earnings per share of -0.2541 on revenue of 1.74B. Analysts polled by Investing.com anticipated EPS of -0.9375 on revenue of 1.76B.
VNET DRC shares are down 21.15% from the beginning of the year, still down 79.59% from its 52 week high of 34.88 set on April 6, 2021. They are under-performing the Nasdaq which is down 7.69% from the start of the year.
VNET DRC follows other major Information Technology sector earnings this month
VNET DRC's report follows an earnings beat by Broadcom on March 3, who reported EPS of 8.39 on revenue of 7.71B, compared to forecasts EPS of 8.13 on revenue of 7.61B.
Oracle had missed expectations on March 10 with third quarter EPS of 1.13 on revenue of 10.51B, compared to forecast for EPS of 1.18 on revenue of 10.51B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar