GDS Holdings reports strong first quarter 2025 results

GDS Holdings, a leading developer and operator of high-performance data centers in China, reported strong unaudited financial results for the first quarter ended March 31, 2025. Net revenue increased by 12.0% year-over-year to RMB2,723.2 million, with net income reaching RMB764.1 million, a significant turnaround from a net loss of RMB344.9 million in the same period last year. Adjusted EBITDA also saw a rise, increasing by 16.1% to RMB1,323.8 million. The company's committed and pre-committed area increased by 6.7% year-over-year to 649,561 sqm, and area utilized rose by 14.6% to 462,423 sqm. The company completed its ABS transaction during the quarter, recognizing a gain of RMB1,057.0 million. GDS Holdings reaffirmed its full-year 2025 revenue guidance of between RMB11,290 and RMB11,590 million.