21Vianet Group Inc. (VNET) witnessed a significant surge in its stock price, soaring 12.23% in the pre-market trading session on Thursday. This rally was fueled by the company's impressive third-quarter financial results and an upward revision of its full-year guidance.

In the third quarter, VNET reported robust revenue growth of 12.4% year-over-year, reaching RMB2.12 billion ($302.2 million) and surpassing analysts' expectations. The company's earnings per share (EPS) of RMB0.16 ($0.06) also outperformed consensus estimates, driven by the strong performance of its core data center and hosting services business.

Furthermore, VNET raised its full-year revenue guidance for fiscal 2024, projecting revenue to range between RMB8 billion and RMB8.1 billion, up from its previous guidance of RMB7.8 billion to RMB8 billion. The company also increased its adjusted EBITDA guidance to RMB2.28 billion to RMB2.3 billion, representing year-over-year growth of 11.8% to 12.8%. This upward revision in guidance reflects VNET's confidence in capitalizing on the growing demand for cloud computing and data center services in China.