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Sep 30, 2025
GDS Q3 2025 Earnings Report
GDS Holdings reported a return to profitability in Q3 2025 driven by strong operational execution and a significant gain from deconsolidation of subsidiaries.
Key Takeaways
GDS Holdings delivered solid financial results for Q3 2025 with strong revenue growth, a return to net profitability, and a high adjusted EBITDA margin, bolstered by the C-REIT transaction.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company reaffirmed its full-year 2025 guidance with expectations of stable revenue growth and strong EBITDA performance.
Positive Outlook
- Confirmed full-year 2025 revenue guidance of RMB11.29–11.59 billion
- Confirmed Adjusted EBITDA guidance of RMB5.19–5.39 billion
- Increased financial flexibility following successful C-REIT IPO
- Data center ramp-up continues to drive revenue
- Strong demand driven by AI adoption
Challenges Ahead
- Share of equity method investee losses impacted bottom line
- Temporary drop in utilization rate due to new capacity
- Increased general and administrative expenses
- Higher income tax expenses from C-REIT transaction
- Reduced area under construction indicating slowdown in expansion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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