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Reading: Equinix Q2 earnings beat, revenue meets; year AFFO guidance gets a boost (NASDAQ:EQIX)
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News Junction > Blog > Business > Equinix Q2 earnings beat, revenue meets; year AFFO guidance gets a boost (NASDAQ:EQIX)
Equinix Q2 earnings beat, revenue meets; year AFFO guidance gets a boost (NASDAQ:EQIX)
Business

Equinix Q2 earnings beat, revenue meets; year AFFO guidance gets a boost (NASDAQ:EQIX)

Published August 8, 2024
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Erik Isakson

Equinix (NASDAQ:EQIX) increased the midpoint for its full-year adjusted FFO guidance and slightly lowered the midpoint for its revenue outlook. Q2 earnings topped the average analyst estimate, while revenue matched the consensus estimate.

The digital infrastructure REIT now expects 2024 revenue of $8.692B-$8.772B (midpoint $8.732B vs. consensus of $8.742B) compared with its prior guidance of $8.692B-$8.792B (midpoint $8.742B). It expects AFFO per share of $34.67-$35.30 (midpoint $34.99 vs. consensus $34.96), up from its previous guidance of $34.45-$35.29 (midpoint $34.87).

Adjusted EBITDA for the year is expected to increase to $4.066B-$4.126B (midpoint $4.096B) with adjusted EBITDA margin of 47% vs. its previous view of $4.044B-$4.124B (midpoint $4.084B) and 47%.

For Q3, Equinix (EQIX) anticipates revenue of $2.190B-$2.210B (midpoint $2.200B vs. consensus $2.21B) and adjusted EBITDA of $1.029B-$1.049B (midpoint $1.039B).

Q2 AFFO per share of $9.22, beating the Visible Alpha consensus of $8.82, rose from $8.86 in the previous quarter and $8.04 in last year’s Q2.

Adjusted EBITDA of $1.04B climbed from $992M in Q1 and $901M in Q2 2023.

Revenue of $2.16B, matching the $2.16B consensus, climbed from $2.13B in the prior quarter and $2.02B in the year-ago period.

Recurring revenue of $2.02B increased from $2.01B in the previous quarter and $1.92B in Q2 2023.

Operating expenses of $641M dropped from $672M in Q1 and increased from $626M in last year’s Q2.

Conference call at 5:30 PM ET.

Earlier, Equinix FFO of $6.27 beats by $0.14, revenue of $2.16B in-line

#Equinix #earnings #beat #revenue #meets #year #AFFO #guidance #boost #NASDAQEQIX

TAGGED:AFFObeatboostearningsEquinixGuidancemeetsNASDAQEQIXrevenueyear
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