Early Access

10-QPeriod: Q3 FY2022

EQUINIX INC Quarterly Report for Q3 Ended Sep 30, 2022

Filed November 4, 2022For Securities:EQIX

Summary

Equinix Inc. (EQIX) reported solid financial performance for the nine months ended September 30, 2022, with total revenues reaching $5.39 billion, a 9% increase year-over-year, driven by strong recurring revenue growth across all regions. The company saw significant revenue growth in the Americas (11% year-over-year), EMEA (9% year-over-year), and Asia-Pacific (8% year-over-year), with constant currency growth rates being even stronger, indicating healthy underlying demand. Net income attributable to Equinix for the nine months was $575.6 million, up from $376.6 million in the prior year period. The company's strategic acquisitions, including MainOne in West Africa and data centers in Chile and Peru, contributed to this growth. Equinix also maintained a strong balance sheet with $2.5 billion in cash and cash equivalents and substantial available liquidity from its revolving credit facility.

Financial Highlights

52 data points
Beta

Revenue

$1.84B

0.5% Gross Margin

Net Income

$211.81M

0.1% Net Margin

EPS (Diluted)

$2.30

Total Assets

$29.33B

Cash & Equivalents

$2.50B

Free Cash Flow

$820.29M

Financial Statements
Beta
Revenue$1.84B
Cost of Revenue$934.67M
Gross Profit$905.99M
Operating Expenses$1.51B
Operating Income$333.16M
Interest Expense$91.35M
Net Income$211.81M
EPS (Basic)$2.30
EPS (Diluted)$2.30
Shares Outstanding (Basic)91.90M
Shares Outstanding (Diluted)92.14M

Key Highlights

  • 1Total revenues for the nine months ended September 30, 2022, increased by 9% to $5.39 billion, compared to $4.93 billion in the same period of 2021.
  • 2Recurring revenues represented 95% of total revenues for the nine months ended September 30, 2022, demonstrating the stability of Equinix's business model.
  • 3The company completed several strategic acquisitions in 2022, including MainOne in West Africa and data centers in Chile and Peru, which contributed to revenue growth.
  • 4Net income attributable to Equinix increased to $575.6 million for the nine months ended September 30, 2022, from $376.6 million in the prior year period.
  • 5Cash provided by operating activities increased significantly to $2.20 billion for the nine months ended September 30, 2022, up from $1.66 billion in the prior year period.
  • 6Equinix maintained a strong liquidity position with $2.5 billion in cash and cash equivalents and $3.9 billion available under its revolving credit facility as of September 30, 2022.
  • 7The company declared and paid quarterly dividends, reinforcing its commitment to returning capital to shareholders.

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