24/7 Market News Snapshot 21 August, 2024 – GDS Holdings Limited ADS (NASDAQ:GDS)

DENVER, Colo., 21 August, 2024 (247marketnews.com) – (NASDAQ:GDS) are discussed in this article.
GDS Holdings Limited (Ticker: GDS) is currently demonstrating a remarkable performance in the market, with its stock price opening at $13.19 and climbing to $14.94, reflecting an impressive gain of 18.33% from the previous session’s close at $12.60. This surge in share price is backed by a substantial trading volume of 3.18 million shares, highlighting notable investor interest. The prevailing market momentum suggests a bullish outlook for GDS, with resistance anticipated around $15.00 and support near the initial opening price, indicating a robust technical landscape for potential future movements.

In conjunction with its market performance, GDS has recently released its financial results for the second quarter of 2024, revealing significant year-over-year growth. The company’s net revenue rose by 14.3%, reaching RMB 2,826.4 million (approximately US$388.9 million), driven by the ongoing ramp-up of its data center operations. This upward trajectory is further supported by an increase in Adjusted EBITDA, which grew by 6.2% year-over-year to RMB 1,312.2 million (US$180.6 million), showcasing the company’s effective operational management amid a complex market environment.

GDS’s adjusted EBITDA margin stands at a strong 46.4%, indicating operational efficiency despite rising costs linked to its expanding data center footprint. CEO William Huang underscored the company’s strategic execution and significant new customer orders in key international markets, reflecting a blend of strategic expansion and an upswing in demand for high-performance data center services.

Furthermore, GDS’s area in service expanded by 18.8% year-over-year to 630,963 sqm, with a commendable commitment rate of 92.5%. With its international commitments up by 690.2%, especially in emerging global hubs, GDS solidifies its position as a leading entity in the data center sector. The company has also reaffirmed its revenue guidance for the year, projecting total revenues between RMB 11,340 to RMB 11,760 million, laying a strong foundation for sustainable growth and value creation.

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