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Mar 31, 2023
Equinix Q1 2023 Earnings Report
Equinix delivered record quarterly revenues and strong operating performance.
Key Takeaways
Equinix reported a strong start to the year with record quarterly revenues of approximately $2.0 billion, a 15% increase over the same quarter last year. The company saw significant growth in operating income and net income, driven by strong operating performance. Equinix is also increasing its annual guidance.
Revenues reached approximately $2.0 billion, up 15% year-over-year.
Operating income increased by 36% compared to the previous quarter, reaching $384 million.
Net income rose by 101% over the previous quarter to $259 million.
Equinix closed approximately 4,000 deals across more than 3,000 customers.
Revenue by Geographic Location
Forward Guidance
For the second quarter of 2023, the Company expects revenues to range between $1.995 and $2.025 billion, an increase of approximately 0 - 1% over the previous quarter, or a normalized and constant currency increase of 0 - 2%. Adjusted EBITDA is expected to range between $881 and $911 million.
Positive Outlook
- Revenues are expected to range between $1.995 and $2.025 billion.
- Revenue is expected to increase approximately 0 - 1% over the previous quarter, or a normalized and constant currency increase of 0 - 2%.
- This guidance includes a negative $10 million foreign currency impact when compared to the average FX rates in Q1 2023 and lower non-recurring revenues.
- Adjusted EBITDA is expected to range between $881 and $911 million.
- Integration costs from acquisitions are expected to be $5 million.
Challenges Ahead
- This guidance includes a negative $10 million foreign currency impact when compared to the average FX rates in Q1 2023 and lower non-recurring revenues.
- Adjusted EBITDA reflects the impact of increased seasonal energy costs and the expected expiration of prior power cost commitments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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