Australia's NEXTDC tumbles to near 9-year low on outlook cut
Wed 24:31
BUZZ-Australia's NEXTDC tumbles to near 9-year low on outlook cut ** Shares of NEXTDC NXT.AX fall as much as 44.4% to A%5.10, their lowest level since January 19, 2018
** The data centre operator cuts FY27 net revenue forecast to between A$475 million ($332.88 million) and A$500 million, from its prior outlook of A$615 million to A$640 million, excluding the affected M3 contracts
** Co also cut its 2027 EBITDA forecast to A$245 million to A$265 million, from A$385 million to A$410 million, excluding the affected M3 contracts
** About 6.7 million shares change hands, 1.6x the 30-day average
** Stock down 55.3% YTD, including the day's move
($1 = 1.4269 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
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