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Mar 31, 2024
Equinix Q1 2024 Earnings Report
Equinix Q1 2024 earnings were reported, demonstrating revenue growth and strategic investments.
Key Takeaways
Equinix reported a strong start to 2024 with Q1 revenues exceeding $2.1 billion, marking 85 consecutive quarters of top-line revenue growth. The company saw a 6% increase in revenue compared to the same quarter last year, driven by strong demand and strategic investments in its global footprint.
Revenues reached $2.13 billion, a 1% increase over the previous quarter.
Operating income was $364 million, a 5% increase over the previous quarter, with a 17% operating margin.
AFFO reached $843 million, a 22% increase over the previous quarter.
The company pre-leased an additional 48 megawatts of xScale capacity since the last earnings call.
Equinix
Equinix
Equinix Revenue by Segment
Equinix Revenue by Geographic Location
Revenue by Segment
Colocation Revenue
CapyFin.comInterconnection Revenue
CapyFin.comManaged Infrastructure Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia-Pacific Revenue
CapyFin.com Forward Guidance
For Q2 2024, Equinix expects revenues to range between $2.148 and $2.168 billion. Total revenues for the full year 2024 are expected to range between $8.692 and $8.792 billion. Adjusted EBITDA is expected to range between $4.044 and $4.124 billion, and AFFO is expected to range between $3.290 and $3.370 billion.
Positive Outlook
- Revenue to range between $2.148 and $2.168 billion for Q2 2024.
- Adjusted EBITDA to range between $1.019 and $1.039 billion for Q2 2024.
- Total revenues are expected to range between $8.692 and $8.792 billion for the full year 2024.
- Adjusted EBITDA is expected to range between $4.044 and $4.124 billion for the full year 2024.
- AFFO is expected to range between $3.290 and $3.370 billion for the full year 2024.
Challenges Ahead
- Q2 2024 revenue guidance includes a $7 million negative foreign currency impact.
- Q2 2024 adjusted EBITDA guidance includes a $4 million negative foreign currency impact and $6 million of integration costs.
- Full year revenue guidance is offset by a $101 million negative foreign currency impact.
- Full year adjusted EBITDA guidance is offset by a $50 million negative foreign currency impact.
- Full year AFFO guidance is offset by a $36 million negative foreign currency impact.
Revenue & Expenses
Visualization of income flow from segment revenue to net income