NextDC

NextDC Shares Plunge 40% After Earnings Cut on Melbourne Power Delays

Australian data centre operator NextDC suffered a brutal market sell-off after slashing its earnings forecast, with shares tumbling as much as 40% in response to mounting delays at its Melbourne facility. The company said power supply setbacks, compounded by local community and stakeholder opposition, have disrupted the timing of a key project and forced it to reset expectations for near-term profitability.