Equinix Inc

Latest Results (17.12.2024):

Revenue Growth

In the third quarter of 2024, Equinix Inc. reported a 7% increase in quarterly revenues, reaching $2.2 billion. This growth was consistent on both an as-reported and normalized constant currency basis compared to the same quarter last year. The company attributes this growth to robust pricing, strong deal conversion rates, and significant improvements in billable cabinet capacity.

Operating and Net Income

Equinix Inc.'s operating income for the third quarter of 2024 was $425 million, which was lower than the previous quarter due to a gain on the sale of the Silicon Valley 12 xScale asset in Q2. Net income attributable to common stockholders was $297 million, translating to $3.10 per share, also reflecting a decrease from the previous quarter for the same reason.

Adjusted EBITDA

The company's adjusted EBITDA for the third quarter of 2024 was $1,048 million, marking a 1% increase over the previous quarter. The adjusted EBITDA margin stood at 48%, with minimal negative foreign currency impact and $2 million in integration costs factored into these results.

Annual Guidance

For the full year of 2024, Equinix Inc. has projected total revenues to range between $8.748 and $8.788 billion, representing an approximate 7% increase over the previous year. The adjusted EBITDA is expected to be between $4.086 and $4.126 billion, with a margin of 47%. This guidance reflects a $36 million increase from prior guidance, driven by better-than-expected operating performance and favorable foreign currency impacts.

Business Outlook

Looking ahead to the fourth quarter of 2024, Equinix Inc. anticipates revenues to range between $2.262 and $2.302 billion, indicating a 3-5% increase over the previous quarter. The company expects adjusted EBITDA to be between $1.010 and $1.050 billion, with recurring capital expenditures projected to range from $94 to $114 million, aligning with typical seasonal investments.