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Sep 30, 2020
Equinix Q3 2020 Earnings Report
Equinix achieved revenue and interconnection growth.
Key Takeaways
Equinix reported Q3 2020 results with revenues of $1.520 billion, a 9% increase year-over-year. AFFO was $580 million, a 4% increase over the previous quarter. The company launched Equinix Metal™ and expanded Platform Equinix®.
Revenues increased 9% year-over-year to $1.520 billion.
Operating Income was $288 million with a 19% operating margin.
AFFO reached $580 million, a 4% increase over the previous quarter.
Equinix added 8,500 net interconnections in Q3.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q4 2020, Equinix expects revenues to range between $1.549 and $1.569 billion. Adjusted EBITDA is expected to range between $685 and $705 million.
Positive Outlook
- Revenues are expected to increase 2 - 3% quarter-over-quarter.
- The company anticipates a normalized and constant currency increase of approximately 1 - 2%.
- Guidance includes $4 million negative foreign currency impact compared to Q3 2020.
- Adjusted EBITDA is expected to range between $685 and $705 million.
- Recurring capital expenditures are expected to range between $69 and $79 million.
Challenges Ahead
- Guidance includes a $4 million negative foreign currency impact when compared to the average foreign currency rates in Q3 2020.
- Adjusted EBITDA includes higher repairs and maintenance and utilities expenses.
- Adjusted EBITDA includes certain COVID-19-related one-off costs.
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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