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Sep 30, 2022
Equinix Q3 2022 Earnings Report
Equinix achieved record gross and net bookings, marking the company's 79th consecutive quarter of revenue growth.
Key Takeaways
Equinix reported a 10% increase in quarterly revenues year-over-year, reaching $1.8 billion, with interconnection revenues outpacing colocation revenues. The company delivered its sixth consecutive quarter of record channel bookings and launched the Equinix Foundation with a $50 million commitment to advance digital inclusion.
Revenues reached $1.8 billion, a 10% increase over the same quarter last year.
Operating income was $333 million, representing an 18% operating margin.
AFFO was $712 million, or $7.73 per share, driven by strong operating performance and lower income tax.
Equinix launched the Equinix Foundation with an initial financial commitment of $50 million.
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 fourth quarter of 2022, Equinix expects revenues to range between $1.848 and $1.868 billion, an increase of approximately 1% over the previous quarter, or a normalized and constant currency increase of 2 - 3%. Adjusted EBITDA is expected to range between $821 and $841 million.
Positive Outlook
- Expected revenue increase of approximately 1% over the previous quarter.
- Normalized and constant currency revenue increase of 2-3%.
- Adjusted EBITDA is expected to range between $821 and $841 million.
- Integration costs from acquisitions are expected to be $6 million.
- Recurring capital expenditures are expected to range between $76 and $86 million.
Challenges Ahead
- Negative $35 million foreign currency impact on revenues compared to Q3 2022 average FX rates.
- Adjusted EBITDA includes an increase in seasonal utility costs.
- Adjusted EBITDA includes an acceleration of discretionary costs into Q4.
- Negative $16 million foreign currency impact on Adjusted EBITDA compared to Q3 2022 average FX rates.
- Unspecified increase in seasonal utility costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income