GDS Holdings Limited (NASDAQ:GDS) Q2 2024 Earnings Conference Call August 21, 2024 8:00 AM ET

Company Participants

Laura Chen - Head of IR
William Huang - Chairman, CEO
Daniel Newman - CFO

Conference Call Participants

Yang Liu - Morgan Stanley
Frank Louthan - Raymond James
Sara Wang - UBS
Daley Li - Bank of America Securities
Edison Lee - Jefferies
Louis Tsang - Citi
Jonathan Atkin - RBC Capital Markets

Operator

Hello ladies and gentlemen, thank you for standing by for GDS Holdings Limited Second Quarter 2024 Earnings Conference Call. At this time all participants are in listen-only mode. After management’s prepared remarks there will be a question-and-answer session. Today's conference call is being recorded.

I will now turn the call over to your host, Ms. Laura Chen, Head of Investor Relations for the company. Please go ahead, Laura.

Laura Chen

Thank you. Hello, everyone. Welcome to the Second Quarter 2024 Earnings Conference Call of GDS Holdings Limited. The company's results were issued via Newswire Services earlier today and are posted online. A summary presentation which we'll refer to during this conference call, can be viewed and downloaded from our IR website at investors.gds-services.com.

Leading today’s call is Mr. William Huang, GDS’s Founder, Chairman and CEO, who will provide an overview of our business strategy and performance. Mr. Dan Newman, GDS’s CFO, will then review the financial and operating results. Ms. Jamie Khoo, CEO of GDS International, is also available to answer questions.

Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the company's prospectus as filed with the US SEC.

The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that GDS earnings press release at this conference call include discussions of unaudited GAAP financial information, as well as unaudited non-GAAP financial measures. GDS’s press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.

I will now turn over the call to GDS’s Founder, Chairman and CEO, William. Please go ahead, William.

William Huang

Thank you. Hello, everyone. This is William. Thank you for joining us on today's call. In Q2 2024, we achieved a revenue growth of 18% and adjusted EBITDA growth of 15%. This growth rate is quite remarkable in current market conditions. It reflects the progress which we have made in stabilizing our China business and the uplift from the highly successful execution of our international strategy.