Why GDS Holdings Stock Plummeted 16% Today
GDSGDS(GDS) The Motley Fool·2024-11-20 07:06

News of higher capital expenditures than previously expected put the hurt on GDS Holdings (GDS -16.22%) 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.A mixed third frameFor the quarter, GDS managed to lift its revenue nearly 18% higher year over year to 2.97 billion yuan ...