The global interconnection and data center company, Equinix reported the results for the quarter ended March 31, 2020. According to results, $1.445 billion in revenue in the first-quarters is a 2% increase over the previous quarter or a 6% increase over the same quarter last year. The company also announced that 87% of total recurring revenues were from customer deployments across multiple metros and the key customer expansions included Hurricane Electric, TikTok, and Zoom. According to the report, interconnection revenues in the quarter increased 14% over the same quarter last year.
44% traffic increase
Equinix also announced that peak internet exchange traffic increased 44% over the same quarter last year, or over 20% compared to the prior quarter, which is a result of the coronavirus outbreak and global shift to remote working practices. Charles Meyers, President and CEO, Equinix said,
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“These are unprecedented times and our hearts go out to those who have been impacted by COVID-19. We extend our gratitude to all the front-line workers who are helping to keep us safe and healthy during this global pandemic. The Equinix business continues to perform well and show resiliency through these times of uncertainty, enabling us to remain focused on the clear set of priorities we laid out at the beginning of the year, investing in our people, evolving our platform and service portfolio to meet the changing needs of customers, expanding our go-to-market engine to fuel long-term growth, and simplifying our business to drive operating leverage and enhance our customer experience.”