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Stock Track | GDS Holdings Stock Surges After Beating Q2 Revenue Estimates

Stock Track08-22

Shares of GDS Holdings Ltd, a leading developer and operator of high-performance data centers in China, surged 16.67% in intraday trading on Wednesday, following the company's release of its second-quarter financial results.

According to the earnings report, GDS reported an adjusted loss of 16 cents per share for the quarter ended June 30, 2024, which was in line with analysts' expectations. However, the company's revenue rose 14.3% year-over-year to $2.83 billion, surpassing analysts' estimates of $2.79 billion.

Despite reporting a quarterly net loss of $239.22 million, investors appeared to be encouraged by GDS's revenue growth and the company's ability to meet or exceed analysts' expectations. The positive earnings surprise may have contributed to the stock's significant intraday gain.

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