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Jun 30, 2024
Equinix Q2 2024 Earnings Report
Reported record gross bookings and achieved its 86th consecutive quarter of top-line revenue growth.
Key Takeaways
Equinix reported strong Q2 2024 results, marked by record gross bookings and an 86th consecutive quarter of top-line revenue growth. Quarterly revenues increased 7% year-over-year to $2.2 billion, and net income increased 45% to $301 million. Adjusted EBITDA surpassed $1 billion for the first time.
Revenues increased 7% year-over-year to $2.2 billion, or 8% on a normalized and constant currency basis.
Net income increased 45% year-over-year to $301 million.
Adjusted EBITDA surpassed the $1 billion quarterly threshold for the first time.
Closed first multi-hundred-megawatt xScale campus in Atlanta.
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 the third quarter of 2024, the company expects revenues to range between $2.190 and $2.210 billion. Adjusted EBITDA is expected to range between $1.029 and $1.049 billion.
Positive Outlook
- Revenues are expected to increase approximately 1 - 2% over the previous quarter.
- Revenue guidance includes a $5 million foreign currency benefit compared to the average FX rates in Q2 2024.
- Adjusted EBITDA guidance includes a $5 million foreign currency benefit compared to the average FX rates in Q2 2024.
- Equinix is committed to finding innovative solutions that reduce emissions.
- Equinix is expanding its relationships with top technology companies.
Challenges Ahead
- Adjusted EBITDA is expected to be impacted by seasonally higher utilities costs.
- Adjusted EBITDA is expected to be impacted by planned repairs and maintenance.
- Adjusted EBITDA guidance includes $5 million of integration costs related to acquisitions.
- Total capital expenditures are expected to range between $2.850 and $3.100 billion for the full year.
- Non-recurring capital expenditures are expected to range between $2.623 and $2.853 billion for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income