Why GDS Holdings Stock Plummeted by Almost 14% Today
It was a Hump Day to forget for GDS Holdings (NASDAQ: GDS), as the Chinese company's latest earnings release was greeted with a significant sell-off. GDS's American depositary shares (ADS) suffered a nearly 14% decline in price as a result, which was in marked contrast to the S&P 500's (SNPINDEX: ^GSPC) gain of over 1% on the day.That morning, GDS unveiled its fourth-quarter and full-year 2024 figures. For the former period, revenue rose by 9% year over year to 2.69 billion yuan ($372 million). On the bottom line, the company's net loss from continuing operations was slightly over 173 million yuan ($24 million), a considerably narrower deficit than the 3.07 billion ($425 million) in the same period of 2023.Continue reading
It was a Hump Day to forget for GDS Holdings (NASDAQ: GDS), as the Chinese company's latest earnings release was greeted with a significant sell-off. GDS's American depositary shares (ADS) suffered a nearly 14% decline in price as a result, which was in marked contrast to the S&P 500's (SNPINDEX: ^GSPC) gain of over 1% on the day.
That morning, GDS unveiled its fourth-quarter and full-year 2024 figures.
For the former period, revenue rose by 9% year over year to 2.69 billion yuan ($372 million). On the bottom line, the company's net loss from continuing operations was slightly over 173 million yuan ($24 million), a considerably narrower deficit than the 3.07 billion ($425 million) in the same period of 2023.
