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Sep 30, 2021
Equinix Q3 2021 Earnings Report
Equinix demonstrated revenue growth for 75th consecutive quarter, driven by digitization of business models.
Key Takeaways
Equinix reported a 10% increase in quarterly revenues compared to the same quarter last year, reaching $1.675 billion. Net income attributable to Equinix was $152 million, a 123% increase over the previous quarter. The company closed the GPX India acquisition and expanded its xScale program with a new joint venture in Australia.
Revenues increased 10% year over year to $1.675 billion.
Record channel bookings accounted for more than 35% of total bookings.
Interconnection revenues continued to outpace colocation revenues.
Closed the GPX India acquisition and expanded xScale program.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter of 2021, the Company expects revenues to range between $1.685 and $1.705 billion and Adjusted EBITDA is expected to range between $762 and $782 million.
Positive Outlook
- Revenues are expected to range between $1.685 and $1.705 billion.
- Revenue is expected to increase 1 - 2% compared to the prior quarter
- Expects the largest ever normalized step-up in recurring revenues in Q4
- Adjusted EBITDA is expected to range between $762 and $782 million.
- Recurring capital expenditures are expected to range between $75 and $85 million.
Challenges Ahead
- Includes a $5 million negative foreign currency impact when compared to the average FX rates in Q3 2021.
- Expects a sequential decrease of non-recurring revenues by approximately $12 million.
- Adjusted EBITDA includes a $2 million negative foreign currency impact when compared to the average FX rates in Q3 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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