Summary
Equinix Inc. (EQIX) reported its second-quarter and first-half 2019 financial results, demonstrating robust revenue growth and operational improvements. For the quarter ended June 30, 2019, total revenues increased by 10% year-over-year to $1.385 billion, with recurring revenues forming 94% of this total. Net income attributable to Equinix grew significantly to $143.5 million, or $1.69 per diluted share. The company's adjusted EBITDA also saw a healthy increase of 12% year-over-year to $677.0 million, highlighting strong operational performance across all regions. For the first six months of 2019, total revenues reached $2.75 billion, a 11% increase compared to the same period in 2018. Net income attributable to Equinix was $261.6 million, or $3.13 per diluted share. The company's strategic acquisitions and expansion projects continue to drive growth, with a strong focus on expanding its global data center footprint to meet increasing customer demand.
Financial Highlights
54 data points| Revenue | $1.38B |
| Cost of Revenue | $698.18M |
| Gross Profit | $686.80M |
| Operating Expenses | $1.09B |
| Operating Income | $291.78M |
| Interest Expense | $120.55M |
| Net Income | $143.53M |
| EPS (Basic) | $1.70 |
| EPS (Diluted) | $1.69 |
| Shares Outstanding (Basic) | 84.40M |
| Shares Outstanding (Diluted) | 84.77M |
Key Highlights
- 1Total revenues for the three months ended June 30, 2019, increased by 10% year-over-year to $1.385 billion.
- 2Net income attributable to Equinix for the three months ended June 30, 2019, was $143.5 million, or $1.69 per diluted share, a significant increase from the prior year.
- 3Adjusted EBITDA for the three months ended June 30, 2019, rose by 12% year-over-year to $677.0 million, reflecting solid operational performance.
- 4Total revenues for the six months ended June 30, 2019, were $2.75 billion, up 11% from the same period in 2018.
- 5The company completed the acquisition of Switch Datacenters' AMS1 data center business in Amsterdam, Netherlands in April 2019.
- 6Equinix formed a joint venture with GIC to develop and operate data centers in Europe, agreeing to sell certain data centers to the JV.
- 7The company continued to strengthen its balance sheet, raising approximately $1.213 billion in net proceeds from a public equity offering in March 2019.