GDS Holdings Q2 Revenue Surge 39%, Reiterates FY21 Outlook

August 17, 2021 8:30 AM | 1 min read

GDS Holdings Ltd GDS reported second-quarter FY21 revenue growth of 38.9% year-on-year to $288.7 million (RMB 1.86 billion).
Service revenue increased 39.6% Y/Y to $288.5 million.
Margins: The adjusted gross margin grew 30 bps to 54%.
The adjusted EBITDA rose 41.4% Y/Y to $138.8 million (RMB895.9 million), and the margin expanded by 90 bps to 48.1%.
Loss per share was $(0.03), and loss per ADS was $0.28.
GDS held $1.9 billion in cash and equivalents. It generated $56.3 million in operating cash flow.
Outlook: GDS reiterated FY21 revenue guidance of $1.193 billion - $1.239 billion (RMB7.7 billion – RMB8 billion).
It affirmed the adjusted EBITDA of RMB3.66 billion – RMB3.80 billion.
Price Action: GDS shares closed lower by 3.47% at $55.89 on Monday.