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Dec 31, 2022
Equinix Q4 2022 Earnings Report
Reported exceeding $7 billion in revenue with an 80th consecutive quarter of revenue growth.
Key Takeaways
Equinix reported strong Q4 2022 results, with revenues reaching $1.871 billion, a 9% increase year-over-year. The company's performance was driven by the increasing demand for comprehensive digital infrastructure solutions and its global platform and interconnected ecosystems.
2022 annual revenues increased 9% year-over-year on an as-reported basis and 11% on a normalized and constant currency basis to $7.3 billion
Delivered seventh consecutive quarter of record channel bookings, accounting for nearly 40% of total bookings and approximately 60% of new logos
Closed over 17,000 deals across more than 6,000 customers in 2022
Increases quarterly cash dividend by 10% to $3.41 per share on its common stock due to strong operating performance
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2023, Equinix expects revenues to range between $1.965 and $1.995 billion, an increase of 5 - 7% over the previous quarter, or a normalized and constant currency increase of 5 - 6%. Adjusted EBITDA is expected to range between $891 and $921 million.
Positive Outlook
- Revenues are expected to range between $1.965 and $1.995 billion, an increase of 5 - 7% over the previous quarter.
- A normalized and constant currency increase of 5 - 6% is expected.
- Adjusted EBITDA is expected to range between $891 and $921 million.
- Guidance includes power price increases in EMEA.
- Recurring capital expenditures are expected to range between $18 and $28 million.
Challenges Ahead
- Guidance includes a negative foreign currency impact of $24 million when compared to the average FX rates in Q4 2022.
- Adjusted EBITDA includes a negative foreign currency impact of $9 million when compared to the average FX rates in Q4 2022.
- Adjusted EBITDA includes increased seasonal salary and benefit costs of $17 million attributed to the FICA reset.
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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