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21Vianet trading down on Q2 results, concerns over margins and delays

  • Shares of 21Vianet (VNET -6%) are trading down following the company's Q2 EPS miss.
  • On the conference call, analysts raised concerns about decreasing EBITDA margins (down 80bp Y/Y on an adjusted basis) and delays in the deployment of the company's Windows Azure and Office 365 offerings. The company is "not sure [about] the deployment time" because the "pricing strategy has not been finalized." CFO Shang-Wen Hsiao warned that awaited revenue from 21Vianet's cloud computing operations could come "towards the very end of the third quarter."
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