Chindata Group Q3 Adj. Net Income Rises; Revenues Up 58.5%

Chindata Group Holdings Limited (CD) reported third quarter net income of RMB 78.4 million compared to a net loss of RMB 196.8 million, last year. Profit per ADS was RMB 0.22. Adjusted net income increased by 132.2% to RMB 112.0 million. Adjusted EBITDA increased by 61.6% to RMB 368.4 million.

Total revenues increased by 58.5% to RMB 740.8 million from RMB 467.5 million, prior year, primarily driven by the growth of colocation services.

The company reiterated its guidance for full year 2021.

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