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Home > Data Center > Equinix reports 2nd quarter results

Equinix reports 2nd quarter results

Digital infrastructure company, Equinix reported the results for the quarter that was ended on June 30.

Erdem Yasar by Erdem Yasar
July 29, 2021
in Data Center
2 min read
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Digital infrastructure company, Equinix reported financial results for the quarter ended June 30. During the quarter, Equinix exceeded 400,000 interconnections, which highlights its critical role in the digital infrastructure. Quarterly revenues of the company also increased 13% to $1.658 billion year-over-year. Equinix also attained Fortune 500 status.

Highlights

  • $1.658 billion, a 4% increase over the previous quarter, including a 36% increase in non-recurring revenues from xScale fees and custom installation services 
  • Includes an $11 million positive foreign currency benefit when compared to prior guidance foreign currency rates 
  • $279 million, a 6% decrease from the previous quarter and an operating margin of 17% due to increased depreciation and amortization from recently opened IBX data centers and expansions, higher utilities expense and increased repairs and maintenance spend
  • $797 million, a 48% adjusted EBITDA margin 
  • Includes a $6 million positive foreign currency benefit when compared to prior guidance FX rates 
  • Includes $4 million of integration costs 
  • $68 million, a 56% decrease from the previous quarter, largely due to a $101 million debt extinguishment charge, related to the company’s $1.25 billion 2027 Notes redemption completed in June 
  • $0.76 per share, a 56% decrease from the previous quarter
  • $632 million, a 1% increase over the previous quarter, including a $25 million increase in recurring capital expenditures 
  • $7.01 per share, an increase over the previous quarter 
Charles Meyers, President and CEO of Equinix
Charles Meyers, President and CEO of Equinix

Charles Meyers, President and CEO of Equinix said,

“We have continued to see significant momentum in our business as digital transformation outpaces previous expectations across all industries. Technology spend is accelerating, and we believe Equinix remains uniquely positioned as traditional technology markets continue to shift to as-a-service consumption models and hybrid multicloud is widely adopted as the architecture of choice. The pandemic has highlighted that digital infrastructure is not just a business enabler, but a primary source of competitive advantage for digital leaders across all industries, and we continue to see a multitude of trends driving infrastructure to become more distributed, more on demand, and more ecosystem-connected than ever before.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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