Equinix Q2 earnings estimates increase by 13%

The results of Equinix’s second-quarter report reveals the company’s quarterly revenues have increased by 13% over the same period last year

Equinix has today announced that its quarterly revenues have increased by 13% over last year, exceeding expectations. The figure is based on the results from its Q2 earnings, which have now risen to US$1.658bn. This also represents a 4% increase over the company’s previous quarter and includes a 36% increase in non-recurring revenues from XScale fees and custom installation services. 

Over the quarter, Equinix has seen record bookings particularly in the Americas region and in the enterprise vertical as well as 400,000 interconnections, highlighting its role in today’s digital infrastructure. The company reported other milestones in the quarter, including attaining a Fortune 500 status and being recognised as a leader in IDC’s marketscape report, as well as two top credit ratings agencies.

Second Quarter 2021 Results Summary



  • US$1.658bn, a 4% increase over the previous quarter, including a 36% increase in non-recurring revenues from xScaleTM fees and custom installation services
  • Includes a US$11mn positive foreign currency benefit when compared to prior guidance foreign currency ("FX") rates

Operating Income

  • US$279mn, a 6% decrease from the previous quarter and an operating margin of 17% due to increased depreciation and amortisation from recently opened IBX data centers and expansions, higher utilities expense and increased repairs and maintenance spend

Adjusted EBITDA

  • US$797mn, a 48% adjusted EBITDA margin
  • Includes a US$6mn positive foreign currency benefit when compared to prior guidance FX rates
  • Includes US$4mn of integration costs

Net Income and Net Income per Share attributable to Equinix

  • US$68mn, a 56% decrease from the previous quarter, largely due to a US$101mn debt extinguishment charge, related to the company's US$1.25bn 2027 Notes redemption completed in June
  • US$0.76 per share, a 56% decrease from the previous quarter

AFFO and AFFO per Share

  • US$632mn, a 1% increase over the previous quarter, including a $25 million increase in recurring capital expenditures
  • US$7.01 per share, an increase over the previous quarter
  • Includes US$4mn of integration costs

Talking about the company’s progress, Charles Meyers, President, and CEO, 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 multi-cloud is widely adopted as the architecture of choice. 

He added that the pandemic has highlighted digital infrastructure as “not just a business enabler, but a primary source of competitive advantage for digital leaders across all industries”, saying that Equinix will 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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