VNET Group Authorizes Share Repurchases Program Worth $50 Million

VNET Group, Inc. (NASDAQ:VNET) is one of the Best Information Technology Services Stocks to Invest In. On June 27, VNET Group, Inc. (NASDAQ:VNET) authorized a share repurchase program worth $50 million of its American depositary shares (ADSs).

VNET’s board has decided to repurchase its ADSs up to $50 million to underscore its confidence in the company’s future development and growth prospects. Depending on market conditions, the company may repurchase stock from time to time on the open market at the prevailing market price, in open-market transactions, block trades, or through other legal means.

VNET Group, Inc. (NASDAQ:VNET) also raised its full-year 2025 guidance, increasing the net revenue from the previous guidance of RMB 9.10-9.30 billion to RMB 9.15-9.35 billion. Whereas, the adjusted EBITDA guidance is raised from RMB 2.70-2.76 billion to RMB 2.76-2.82 billion. The raised guidance for the full year indicates a robust trajectory driven by faster-than-anticipated move-ins among wholesale IDC clients and operational efficiency gains.

VNET Group, Inc. (NASDAQ:VNET) is a holding company primarily engaged in carrier-neutral and cloud-neutral data center services. The company offers managed hosting services, cloud services, and virtual private network services.

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Disclosure: None. This article is originally published at Insider Monkey.