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Dec 31, 2023
Equinix Q4 2023 Earnings Report
Equinix reported strong Q4 2023 results, achieving 21 years of consecutive quarterly revenue growth.
Key Takeaways
Equinix reported Q4 2023 results with revenues of $2.11 billion, a 13% increase over the previous year. The company achieved 21 years of consecutive quarterly revenue growth and made substantial progress on its ambitious agenda, positioning the business to capitalize on the immense opportunities that lie ahead.
Delivered more than $8 billion in revenue in 2023, achieving 21 years of consecutive quarterly revenue growth
2023 annual revenues increased 13% year-over-year on an as-reported basis and 15% on a normalized and constant currency basis to $8.2 billion
Closed nearly 17,000 deals across more than 5,900 customers in 2023
Record 90 megawatts (“MW”) of xScale® leasing, the result of increased hyperscale demand to support artificial intelligence (AI) and cloud deployments
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2024, Equinix expects revenues to range between $2.127 and $2.147 billion, an increase of 1 - 2% over the previous quarter, or flat on a normalized and constant currency basis. Adjusted EBITDA is expected to range between $960 and $980 million.
Positive Outlook
- Revenues to range between $2.127 and $2.147 billion, an increase of 1 - 2% over the previous quarter
- Flat on a normalized and constant currency basis
- Guidance includes lower non-recurring revenues related to significant xScale activity in Q4 2023 partly offset by a foreign currency benefit of $38 million when compared to the average FX rates in Q4 2023
- Adjusted EBITDA is expected to range between $960 and $980 million
- Includes a foreign currency benefit of $18 million when compared to the average FX rates in Q4 2023
Challenges Ahead
- Includes lower non-recurring revenues related to significant xScale activity in Q4 2023
- Adjusted EBITDA includes $5 million of integration costs related to acquisitions
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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