Investing.com - VNET DRC reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
VNET DRC announced earnings per share of 0.6 on revenue of 1.65B. Analysts polled by Investing.com anticipated EPS of -0.1697 on revenue of 1.75B.
VNET DRC shares are down 48.84% from the beginning of the year, still down 82.37% from its 52 week high of 26.20 set on June 18, 2021. They are under-performing the Nasdaq which is down 28% 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 Apple on April 28, who reported EPS of 1.52 on revenue of 97.28B, compared to forecasts EPS of 1.42 on revenue of 94.03B.
Microsoft had beat expectations on April 26 with third quarter EPS of 2.22 on revenue of 49.36B, compared to forecast for EPS of 2.19 on revenue of 49.02B.
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