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GDS Holdings Rises 14% On Higher Q1 Revenues

Shares of IT company GDS Holdings Ltd. (GDS) are rising 14 percent on Thursday's trading after reporting higher revenues in the first quarter.

Net revenue increased by 31.5 percent to RMB2.24 billion or $353.9 million in the first quarter from RMB1.71 billion in the same period last year.

In the first-quarter, net loss widened to RMB373.3 million or $58.9 million from net loss of RMB278.7 million a year ago.

Currently at $31.19, the stock has traded between $19.83 and $81.81 during the past 52 weeks.

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