NextDC shares fall 40% after cutting forecast over Melbourne power delays
Overview
NextDC shares fell 39.5% on Wednesday after the Australian data center operator cut its fiscal 2027 revenue guidance to A$475 million to A$500 million, down from A$615 million to A$640 million.
NextDC cites power supply delays at its M3 Melbourne data center.
According to NextDC, electricity distributor Jemena has suspended infrastructure upgrades at the site amid community opposition, and does not expect to resume work before February 2027.
Written by AI from the articles below · updated Oct 20, 10:02 PM ET
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- CNBC · TechnologyNewsNextDC shares plunge 40% after slashing earnings forecast over Melbourne power delays
AINextDC shares fell 39.5% on Wednesday after the Australian data center operator cut its fiscal 2027 revenue guidance to A$475 million to A$500 million from A$615 million to A$640 million. The company cited power supply delays at its M3 Melbourne data center, where Jemena does not expect to resume infrastructure upgrades before February 2027 amid community opposition.
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