BUZZ-China's data centers operator GDS drops most in 8 weeks after Q1 results-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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BUZZ-China's data centers operator GDS drops most in 8 weeks after Q1 results

Reuters05-23

** Hong Kong-listed shares of GDS Holdings drop 15.1% to HK$7.60, on course for biggest one-day decline since March 27

** Stock set to fall for third straight session; biggest loser on Hang Seng Composite Index and index tracking information technology firms

** The U.S.-listed stock of the Chinese high-performance data centers developer and operator fall 13.9% on Wednesday

** GDS Q1 net revenue up 9.1% Y/Y to 2.6 bln yuan ($363.1 mln), adjusted EBITDA up 4.7% Y/Y to 1.2 bln yuan and net loss narrowing to 344.9 mln yuan from 1Q2023's net loss of 474.6 mln yuan

** Jefferies keeps "Buy" rating, saying 1Q24's revenue and EBITA slightly missed, but expansion of its international operation is on the right track

** Hang Seng Composite Index declines 2.1%, index tracking information technology firms drops 2.5% and Hang Seng Index falls 2.2%

** Hong Kong-listed stock fell 15% YTD, U.S. shares down 12.2% YTD

($1 = 7.2442 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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