GDS Holdings Limited Announces First Quarter 2026 Results

GDS Holdings Limited reported its unaudited financial results for the first quarter ended March 31, 2026. Net revenue increased by 23.6% year-over-year to RMB3,367.1 million (US$488.1 million). Excluding one-time items, net revenue increased by 7.9% year-over-year. Net income saw a significant increase of 247.1% year-over-year, reaching RMB2,652.1 million (US$384.5 million), with a net income margin of 78.8%. Adjusted EBITDA (non-GAAP) increased by 47.2% year-over-year to RMB1,948.7 million (US$282.5 million). The company experienced strong sales, with net new bookings of around 200MW in the first quarter, the highest ever for a single quarter. Total area committed and pre-committed increased by 11.7% year-over-year to 725,485 sqm. The company also enhanced financial flexibility through the sale of DayOne shares and a private placement of convertible preferred shares. GDS Holdings Limited maintains its previously issued guidance for the full year 2026.