Stock Track | GDS Holdings Soars 6.66% on Tuesday, Boosted by Strong Quarterly Results

Stock Track11-20

GDS Holdings Ltd, a leading developer and operator of high-performance data centers in China, experienced a 6.66% surge in its stock price during Tuesday's trading session. This significant rally was driven by the company's impressive quarterly earnings report, which showcased its robust financial performance.

In its latest earnings release, GDS Holdings reported a narrower-than-expected loss of CNY 1.12 per share for the third quarter, outperforming analysts' estimates of CNY 1.43 per share. The company's revenue rose by an impressive 17.7% year-over-year, reaching CNY 2.97 billion, marginally missing the consensus forecast of CNY 2.99 billion.

The strong financial results, coupled with the company's reaffirmed outlook for the full year, fueled investor confidence in GDS Holdings' growth prospects. Analysts have praised the company's strategic focus on expanding its data center footprint and capitalizing on the increasing demand for cloud services and data storage in China.

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