GDS Holdings' Mixed Q1 Results: Strong Growth In Service Area But Revenue Falls Short
Portfolio Pulse from Akanksha Bakshi
GDS Holdings Ltd (NASDAQ:GDS) reported mixed Q1 fiscal 2024 results with a 9.1% increase in net revenue to $363.89 million, missing the consensus of $374.55 million. Loss per ADS of $0.27 beat the consensus loss of $0.29. Adjusted gross profit increased by 8.6% year-over-year to $189.5 million, while the adjusted EBITDA rose 4.7% to $163.9 million. The company reaffirmed its 2024 guidance.
May 22, 2024 | 1:20 pm
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GDS Holdings reported mixed Q1 results with revenue growth but missed consensus estimates. Loss per ADS was better than expected, and the company reaffirmed its 2024 guidance.
The mixed results with revenue growth but missing consensus estimates, along with a better-than-expected loss per ADS, create a neutral short-term impact. The reaffirmation of 2024 guidance provides some stability.
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