NEXTDC Ltd's stock soared 5.06% during Tuesday's intraday session, driven by positive business updates regarding recent customer contract wins.

The data centre developer reported an 11% increase in its pro-forma contracted utilization since late April, reaching 740 megawatts as of June 30, 2026. This growth followed a series of additional customer contract awards. Furthermore, the company's pro forma forward order book increased to 565 megawatts, which is expected to progressively convert to billings, revenue, and earnings before interest, taxes, depreciation, and amortization (EBITDA) over the fiscal years 2026 to 2030.

Analysts viewed the update positively, with Citi suggesting the contract wins point to potential upside for the company's FY 2028 earnings expectations. The company's net revenue, underlying EBITDA, and capital expenditure guidance for fiscal year 2026 remains unchanged.