Loading...
•
Jun 30, 2023
Equinix Q2 2023 Earnings Report
Reported strong demand for digital infrastructure as customers accelerated integration of AI into their operations and remained committed to hybrid cloud architectures.
Key Takeaways
Equinix reported an 11% increase in quarterly revenues compared to the same quarter last year, reaching $2.02 billion. The company saw solid gross and net bookings, resulting in more than 4,100 deals across more than 3,100 customers. However, net income decreased by 4% to $207 million, primarily due to lower income from operations and higher income tax expense.
Quarterly revenues increased 11% over the same quarter last year, to $2.0 billion, or 14% on a normalized and constant currency basis
Solid gross and net bookings resulted in more than 4,100 deals across more than 3,100 customers
Channel bookings accounted for 40% of total bookings and nearly 60% of new logos
Equinix was selected to build incremental data center capacity in Singapore in response to the Singapore Government's Data Center Call for Application process.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the third quarter of 2023, the Company expects revenues to range between $2.039 and $2.069 billion, an increase of approximately 1 - 3% over the previous quarter, on both an as-reported and normalized and constant currency basis. Adjusted EBITDA is expected to range between $908 and $938 million.
Positive Outlook
- Company expects revenues to range between $2.039 and $2.069 billion
- Revenues are expected to increase of approximately 1 - 3% over the previous quarter
- Increase on both an as-reported and normalized and constant currency basis
- Adjusted EBITDA is expected to range between $908 and $938 million
- The company continues to see momentum in our business as digital transformation accelerates the pace of innovation
Challenges Ahead
- Guidance includes a $4 million negative foreign currency impact when compared to the average FX rates in Q2 2023
- Adjusted EBITDA guidance includes a $3 million negative foreign currency impact when compared to the average FX rates in Q2 2023
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
Loading earnings performance data...
Loading earnings reaction data...