Pulse of the Market: Wednesday’s 10 Worst Performers

2. GDS Holdings Ltd. (NASDAQ:GDS)

GDS Holdings snapped a three-day winning streak on Wednesday, losing 13.97 percent to close at $30.61 each as investors soured on the company’s missed revenue estimates during the last quarter.

In its latest earnings release, GDS reported first-quarter earnings per share of -Y1.89, better than the -Y3.04 as expected by analysts.

The drop showed investors shunning the company’s impressive earnings performance, with the GDS swinging to a net income attributable to shareholders of RMB4.19 billion from a RMB3.16 billion net loss in the fourth quarter of 2024, as revenues grew 9.34 percent to RMB2.69 billion from RMB2.46 billion.

Meanwhile, net income attributable to shareholders for the full year of 2024 stood at RMB3.4 billion, reversing a net loss of RMB4.29 billion year-on-year, as revenues increased 5.3 percent to RMB10.3 billion from RMB9.78 billion.