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21Vianet Q1 loss widens 68.2% YOY

21Vianet Group Inc. said its first-quarter normalized net income came to a loss of 87 fen per share, compared with the S&P Capital IQ consensus estimate of a loss of 13 fen per share.

The per-share loss increased 38.5% year over year from 62 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 75.8 million yuan, compared with a loss of 45.0 million yuan in the prior-year period.

The normalized profit margin dropped to negative 8.8% from negative 5.2% in the year-earlier period.

Total revenue came to 862.3 million yuan, compared with 860.1 million yuan in the prior-year period, and total operating expenses rose 7.1% year over year to 946.3 million yuan from 883.4 million yuan.

Reported net income came to a loss of 147.0 million yuan, or a loss of 1.68 yuan per share, compared to a loss of 99.4 million yuan, or a loss of 1.38 yuan per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 6.56 yuan.