Overview

* GDS Holdings ( GDS ) Q3 revenue rises 10.2% yr/yr to RMB2,887.1 mln

* Net income for Q3 reaches RMB728.6 mln, reversing last year's loss

* Adjusted EBITDA grows 11.4% yr/yr to RMB1,342.2 mln

Outlook

* Company maintains 2025 revenue guidance of RMB11,290 - RMB11,590 mln

* GDS Holdings ( GDS ) keeps 2025 adjusted EBITDA guidance at RMB5,190 - RMB5,390 mln

* Company revises capex guidance to approximately RMB2,700 mln for 2025

Result Drivers

* DATA CENTER RAMP-UP - Revenue growth attributed to continued ramp-up of data centers

* C-REIT TRANSACTION - Net income increase driven by gain on deconsolidation of subsidiaries from C-REIT transaction

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 RMB 2.89

Revenue bln

Q3 Net RMB

Income 728.60

mln

Q3 RMB 1.34

Adjusted bln

EBITDA

Q3 Gross 22.10%

Margin

Q3 46.50%

Adjusted

EBITDA

Margin

Q3 Gross RMB

Profit 639.20

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the it services & consulting peer group is "buy"

* Wall Street's median 12-month price target for GDS Holdings Ltd ( GDS ) is $48.00, about 39.5% above its November 18 closing price of $29.02

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)