Business
Equinix Reports First Quarter 2020 Results
Interconnection and Data Center Leader Delivers Another Consecutive Quarter of Revenue and Interconnection Growth REDWOOD CITY, Calif., May 6, 2020
About this update from Equinix, Inc.
[{"type":"text","content":"Interconnection and Data Center Leader Delivers Another Consecutive Quarter of Revenue and Interconnection Growth\n\n\nREDWOOD CITY, Calif., May 6, 2020 /PRNewswire/ --\nQuarterly revenues increased 6% over the same quarter last year to $1.445 billion, or 7% on a normalized and constant currency basis, representing the 69th consecutive quarter of revenue growth Key customer expansions included Hurricane Electric, TikTok and Zoom Customer deployments across multiple metros comprised 87% of total recurring revenues, demonstrating the value of the Equinix global platform Interconnection revenues in the quarter increased 14% over the same quarter last year, or 15% on a normalized and constant currency basis, a sustainable and steady increase over the past few quarters Peak Equinix Internet Exchange™ traffic increased 44% over the same quarter last year, or over 20% compared to the prior quarter, reflecting the impact of the sudden global shift to remote and work-from-home practicesEquinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today reported results for the quarter ended March 31, 2020. Equinix uses certain non-GAAP financial measures, which are described further below and reconciled to the most comparable GAAP financial measures after the presentation of our GAAP financial statements. All per share results are presented on a fully diluted basis.\nFirst Quarter 2020 Results Summary\nRevenues $1.445 billion, a 2% increase over the previous quarter Includes $15 million of negative foreign currency impact when compared to prior guidance ratesOperating Income $253 million, a 19% decrease from the previous quarter, largely due to the sale of certain assets in Q4 to the EMEA xScale™ joint venture, and an operating margin of 18%Adjusted EBITDA $684 million, a 47% adjusted EBITDA margin, including higher seasonal costs Includes $7 million of negative foreign currency impact when compared to prior guidance rates Includes $3 million of integration costsNet Income and Net Income per Share attributable to Equinix $119 million, a 5% decrease from the previous quarter $1.38 per share, a 5% decrease from the previous quarterAFFO and AFFO per Share $535 million, a 13% increase over the previous quarter $6.21 per share, a 13% increase over the previous quarter Includes $3 million of integration costs2020 Annual Gui...