NextDC shares tumble as Melbourne power delays prompt earnings cut

NextDC lowered its earnings forecast after electricity supply delays at its Melbourne data center, with community opposition holding up a grid upgrade. The operator is also pausing new projects and reducing planned investment. According to Fortune, the spending reduction amounts to as much as A$750 million and includes a halt to land purchases.

• Quartz reports fiscal 2027 capital spending guidance of A$4.5 billion to A$5 billion.

Covered by 3 publishers within 11 hours of the first report.

• Quartz: NextDC stock falls 39.5% after Melbourne power delay forces earnings forecast cut

Reporting3

CN CNBC Australian data center operator NextDC's shares plunge 40% after it slashes earnings forecast 9:44 PM

FO Fortune Australians also don’t like data centers: NextDC shares fall 42% after community opposition stalls a grid upgrade · Jay Ganglani 8:44 AM

QZ Quartz NextDC stock falls 39.5% after Melbourne power delay forces earnings forecast cut · Cris Tolomia 9:00 AM

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Topics Data centers