Business
Equinix Reports Second Quarter 2019 Results
REDWOOD CITY, Calif., July 31, 2019 /PRNewswire/ -- Quarterly revenues increased 10% year-over-year, both on an as-reported and normalized and constant
About this update from Equinix, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., July 31, 2019 /PRNewswire/ --\nQuarterly revenues increased 10% year-over-year, both on an as-reported and normalized and constant currency basis, to $1.385 billion Customer deployments across multiple regions increased to 73% of total recurring revenue, demonstrating the value of Equinix's global platform Interconnection revenue growth continues to outpace colocation revenue growth, as global ecosystems continue to scale The portfolio of interconnection services on Platform Equinix® expanded with the launch of Network Edge, a new service enabling customers to deploy virtual network services at EquinixEquinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today reported results for the quarter ended June 30, 2019. 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.\nSecond Quarter 2019 Results Summary\nRevenues $1.385 billion, a 2% increase over the previous quarterOperating Income $292 million, a 4% increase over the previous quarter, an operating margin of 21%Adjusted EBITDA $677 million, a 49% adjusted EBITDA margin, a 3% increase over the previous quarter Includes $3 million of integration costsNet Income and Net Income per Share attributable to Equinix $144 million, a 22% increase over the previous quarter $1.69 per share, a 17% increase over the previous quarterAFFO and AFFO per Share $498 million, a 2% increase over the previous quarter $5.87 per share Includes $3 million of integration costs2019 Annual Guidance Summary\nRevenues $5.565 - $5.595 billion, a normalized and constant currency increase of 9% over the previous year, and a $10 million increase compared to prior guidance at the mid-pointAdjusted EBITDA $2.660 - $2.690 billion, a 48% adjusted EBITDA margin, and a $15 million increase compared to prior guidance at the mid-point Assumes $11 million of integration costsAFFO and AFFO per Share $1.910 - $1.930 billion, a normalized and constant currency increase of 13 - 14% over the previous year, and a $25 million increase compared to prior guidance at the mid-point $22.57 - 22.81 per share, a normalized and constant currency increase of 8 - 9% over the previou...