Australian data center operator NextDC's shares plunge 40% after it slashes earnings forecast

Shares of Australia's NextDC plunged 39.5% on Wednesday after the data center operator slashed its annual earnings forecast, citing power supply delays at its Melbourne facility amid local community and stakeholder opposition. The company lowered its fiscal 2027 revenue guidance to between $475 million Australian dollars and A$500 million, from A$615 million to A$640 million forecast earlier, while cutting its underlying earnings before interest, taxes, depreciation and amortization, or EBITDA, forecast to A$245 million to A$265 million from A$385 million to A$410 million.