China's GDS Holdings Q3 revenue rises on data center ramp-up

GDS Holdings

19/11/2025 11:43

Overview

GDS Holdings 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 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/Miss
Actual
Consensus Estimate
Q3 Revenue
RMB 2.89 bln
Q3 Net Income
RMB 728.60 mln
Q3 Adjusted EBITDA
RMB 1.34 bln
Q3 Gross Margin
22.10%
Q3 Adjusted EBITDA Margin
46.50%
Q3 Gross Profit
RMB 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 is $48.00, about 39.5% above its November 18 closing price of $29.02

Press Release: ID:nGNX3KmybL

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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.)