GDS Holdings Ltd – ADR (NASDAQ: GDS) calculated 54.5% growth over 2nd quarter 2018

By | October 24, 2019

On Yesterday, GDS Holdings Ltd – ADR (NASDAQ: GDS) shares price traded between $41.03 and $42.03 during the last trading session a downbeat with 0.26% at $41.88. The shares recorded trading volume 641.85K shares as compared to its average volume of 757.82K shares. Over the one year trading period, the stock has a peak price of $45.13 and its down is recorded at $20.84.

GDS Holdings Ltd – ADR (NASDAQ: GDS), recently reported its unaudited financial results for the second quarter ended June 30, 2019.

Net revenue in the second quarter of 2019 was 985.2M (US$143.5M), a 54.5% increase over the second quarter of 2018 of 637.5M and a 10.5% increase over the first quarter of 2019 of 891.8M. Service revenue in the second quarter of 2019 was 985.1M (US$143.5M), a 57.3% increase over the second quarter of 2018 of 626.3M and a 10.6% increase over the first quarter of 2019 of 890.9M. Revenue from IT equipment sales was 0.1M (US$14.0 thousand), contrast with 11.2M in the second quarter of 2018.

Cost of revenue in the second quarter of 2019 was 723.4M (US$105.4M), a 44.7% increase over the second quarter of 2018 of 500.0M and a 6.4% increase over the first quarter of 2019 of 679.8M.

Gross profit was 261.8M (US$38.1M) in the second quarter of 2019, a 90.3% increase over the second quarter of 2018 of 137.5M, and a 23.5% increase over the first quarter of 2019 of 212.0M.

Adjusted NOI was 521.9M (US$76.0M) in the second quarter of 2019, a 79.5% increase over the second quarter of 2018 of 290.8M, and a 14.1% increase over the first quarter of 2019 of 457.3M.

Selling and marketing expenses, not including share-based compensation expenses of 7.2M (US$1.0M), were 22.6M (US$3.3M) in the second quarter of 2019, a 26.8% increase from the second quarter of 2018 of 17.8M (not including share-based compensation of 4.3M) and a 11.2% increase from the first quarter of 2019 of 20.3M (not including share-based compensation of 7.5M).

General and administrative expenses, not including share-based compensation expenses of 16.0M (US$2.3M) and depreciation and amortization expenses of 16.8M (US$2.5M), were 61.9M (US$9.0M) in the second quarter of 2019, a 25.5% increase over the second quarter of 2018 of 49.3M (not including share-based compensation expenses of 21.8M and depreciation and amortization expenses of 15.6M) and an 8.4% increase from the first quarter of 2019 of 57.1M (not including share-based compensation of 16.6M and depreciation and amortization expenses of 16.7M).

Research and development costs were 4.2M (US$0.6M) in the second quarter of 2019, contrast with 3.2M in the second quarter of 2018 and 4.6M in the first quarter of 2019.

Net interest expenses for the second quarter of 2019 were 221.9M (US$32.3M), a 61.7% increase over the second quarter of 2018 of 137.3M and an 1.3% increase over the first quarter of 2019 of 219.1M.

Foreign currency exchange loss for the second quarter of 2019 was 7.5M (US$1.1M), contrast with a gain of 9.8M in the second quarter of 2018 and a gain of 4.8M in the first quarter of 2019.

Net loss in the second quarter of 2019 was 93.2M (US$13.6M), contrast with a net loss of 102.1M in the second quarter of 2018 and a net loss of 136.6M in the first quarter of 2019.

Adjusted EBITDA was 428.4M (US$62.4M) in the second quarter of 2019, an 84.5% increase over the second quarter of 2018 of 232.3M and an 11.8% increase over the first quarter of 2019 of 383.2M.

In the liquidity ratio analysis; GDS Holdings Limited’s (GDS) debt to equity ratio was 1.68 while current ratio was 2.00. The company has the institutional ownership of 60.40%. The stock’s RSI amounts to 45.60.

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