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Dec 31, 2024
GDS Q4 2024 Earnings Report
GDS reported strong revenue growth and achieved significant net income due to gain on deconsolidation of subsidiaries.
Key Takeaways
GDS posted solid Q4 2024 results with increased revenue and a major net income boost, driven by asset monetization and growth in data center utilization.
Revenue reached $368,620,000, up from $337,672,000 last year.
Net income of $563,292,000, reversing last year's significant net loss.
Adjusted EPS stood at -$0.13 per ADS.
Strong performance supported by a gain of $613,146,000 from subsidiary deconsolidation.
Revenue by Geographic Location
Forward Guidance
GDS expects 2025 revenues between RMB11.29 billion and RMB11.59 billion, with adjusted EBITDA between RMB5.19 billion and RMB5.39 billion.
Positive Outlook
- Projected revenue growth between 9.4% to 12.3%
- Adjusted EBITDA expected to rise between 6.4% to 10.5%
- Capex guidance around RMB4.3 billion
- ABS transaction expected to enhance financial flexibility
- Positioned to capture AI-driven opportunities
Challenges Ahead
- Guidance dependent on ABS transaction completion
- No inclusion of gain on sale in Adjusted EBITDA guidance
- Capex intensity remains high
- Potential regulatory hurdles for REIT injection
- Macroeconomic uncertainty may impact demand
Historical Earnings Impact
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Avg. Return Before/After Earnings
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