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 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.”