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21Vianet (VNET) Stock Stumbles on Q2 Loss, Downgrade

NEW YORK (TheStreet) -- Shares of 21Vianet (VNET) were falling 12.85% to $9.16 on heavy trading volume mid-morning on Wednesday after the Beijing-based company reported a larger-than-expected loss for the 2016 second quarter.

After yesterday's closing bell, the Internet data center services provider posted an adjusted loss of 17 cents per share. Analysts were modeling a loss of 9 cents per share.

Revenue was $137.1 million for the period, higher than analysts' estimates of of $128.2 million.

"Despite headwinds in certain market segments, we are pleased to...