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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.
Revenue by Segment
Revenue by Geographic Location
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.
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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