Century Interconnect Surges Over 8% on Strong Q1 Revenue Growth

Stock News05-27

On Wednesday, shares of VNET Group (VNET.US) rose more than 8% to $10.73. The company released its unaudited financial results for the first quarter of 2026, showing a 19.8% year-over-year increase in total revenue to 2.69 billion yuan. Adjusted EBITDA grew by 30.6% to 890 million yuan, while adjusted cash gross profit increased by 25.1% to 1.21 billion yuan.

The first quarter marked a new milestone for VNET Group, as revenue from its base-type business exceeded that from its city-type business for the first time. As of March 31, 2026, the total operational capacity of the base-type IDC business reached 907 MW, with a net addition of 18 MW from the previous quarter. The utilized capacity of the base-type IDC business increased to 687 MW, up by 64 MW quarter-over-quarter, and the utilization rate improved by 5.6 percentage points to 75.7%.

Meanwhile, the city-type IDC business continued its steady growth. The monthly recurring revenue per cabinet for the first quarter rose to 9,448 yuan, with the utilization rate remaining stable at 64.1%.

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