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Sep 30
Equinix Q3 2025 Earnings Report
Equinix delivered strong third-quarter results with record bookings, solid profitability, and continued global expansion.
Key Takeaways
Equinix saw a robust Q3 2025 with increased revenue, operating income, and net income. The company achieved record bookings and continued to scale its AI-optimized infrastructure globally, supported by strategic land acquisitions and sustainability efforts.
Recorded all-time high annualized gross bookings of $394M
Revenue reached $2.316B, with strong growth in recurring revenue
Launched AI-ready infrastructure with global reach
AFFO and net income saw double-digit growth from prior year
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
Equinix projects continued revenue and EBITDA growth in Q4 2025, driven by demand for AI and data infrastructure, despite modest FX headwinds.
Positive Outlook
- Q4 2025 revenue guidance of $2.411B–$2.531B
- Adjusted EBITDA guidance of $1.187B–$1.267B
- AFFO forecast raised by $31M due to better performance
- Adjusted EBITDA midpoint raised by $21M
- Q4 guidance includes $4M FX benefit
Challenges Ahead
- FX impact reduced FY revenue guidance by $15M
- FX reduced adjusted EBITDA by $7M
- FX reduced AFFO by $3M
- Free cash flow remains negative
- Slight decline in Asia-Pacific revenue YoY
Revenue & Expenses
Visualization of income flow from segment revenue to net income