RTTNews | Nov 25, 2020 09:57AM EST

09:56 Wednesday, November 25, 2020 (RTTNews.com) - Shares of Chinese carrier and cloud-neutral Internet data center services provider, 21Vianet Group, Inc. (VNET) are surging more than 20% Wednesday morning on better-tha-expected third quarter earnings.

The stock touched a new high of $31.50 this morning.

Third-quarter earnings were $0.06 per ADS, that beat the average estimate of analysts polled by Thomson Reuters of $0.03 loss per share.

Net revenues increased 27% year-over-year to $183.5 million.

For the full-year, the company's revenue outlook implies 27% growth. The consensus estimate is for 34% growth.

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