Why GDS Holdings Stock Plummeted 16% Today

News of higher capital expenditures than previously expected put the hurt on GDS Holdings (NASDAQ: GDS) stock on Tuesday. The Chinese data center specialist reported third-quarter earnings that beat on the bottom line, but investors were clearly more concerned with those looming expenses. The company's shares closed the day 16% down in value, in contrast to the S&P 500 index's 0.4% gain.For the quarter, GDS managed to lift its revenue nearly 18% higher year over year to 2.97 billion yuan ($410 million). The highly specialized tech company also narrowed its net loss considerably; this came in just shy of $28 million, or $0.02 per share. The third-quarter 2023 deficit was nearly $60 million. Although GDS didn't quite reach the consensus analyst estimate of $413 million for revenue, its net loss was far narrower than the average $0.19 per share forecast. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool