GDS - GDS sails 5% after Q1 shows topline surge of 36%

GDS (NASDAQ:GDS +16.4%) shows a Q1 revenue surge of 36% Y/Y to $353.9M, beating consensus by $25.61M. Service revenue increased by 31.6% Y/Y to $353.9M in Q1. Net loss was $58.9M. Adjusted EBITDA increased by 28.5% Y/Y to $165.8M. Adjusted EBITDA margin decreased to 46.9% from 47.9%. More analysis in company presentation “We kicked off 2022 with a solid first quarter. During the first quarter, we secured over 18,000 sqm of new bookings and further cemented our leading position in China’s Tier 1 markets through both organic and acquisition-driven growth. In addition, we progressed our regionalization plan to deepen our presence in Southeast Asia through our partnership with YTL for green data center campus development in Malaysia, creating a unique platform with access to renewable energy in this emerging digital region.” said Mr.William Huang, Chairman and CEO. The company confirms that the previously provided guidance for total revenues of RMB9,320M–RMB9,680M, adjusted EBITDA of RMB4,285M – RMB4,450M and

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GDS sails 5% after Q1 shows topline surge of 36%