Business
Equinix Reports Second-Quarter 2023 Results
Strong Demand for Digital Infrastructure as Customers Accelerate Integration of AI into their Operations and Remain Committed to Hybrid Cloud Architectures
About this update from Equinix, Inc.
[{"type":"text","content":"Strong Demand for Digital Infrastructure as Customers Accelerate Integration of AI into their Operations and Remain Committed to Hybrid Cloud Architectures\n\n\nREDWOOD CITY, Calif., Aug. 2, 2023 /PRNewswire/ --\nQuarterly revenues increased 11% over the same quarter last year, to $2.0 billion, or 14% on a normalized and constant currency basisSolid gross and net bookings resulted in more than 4,100 deals across more than 3,100 customersChannel bookings accounted for 40% of total bookings and nearly 60% of new logosEquinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure companyTM, today reported results for the quarter ended June 30, 2023. 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 2023 Results Summary\nRevenues$2.02 billion, an 11% increase over the same quarter last yearIncludes a $3 million negative foreign currency impact when compared to prior guidance ratesOperating Income$332 million, a 5% increase over the same quarter last year, although impacted by an expected increase in average energy hedge costs and higher seasonal consumptionOperating margin of 16%Net Income and Net Income per Share attributable to Equinix$207 million, a 4% decrease from the same quarter last year, primarily due to lower income from operations and higher income tax expense given a favorable tax settlement in 2022$2.21 per share, a 7% decrease from the same quarter last yearAdjusted EBITDA$901 million, a 5% increase over the same quarter last year, and an adjusted EBITDA margin of 45%Includes a $2 million negative foreign currency impact when compared to prior guidance rates and $3 million of integration costsAFFO and AFFO per Share$754 million, a 9% increase over the same quarter last year$8.04 per share, a 6% increase over the same quarter last year2023 Annual Guidance Summary\nRevenues$8.171 - $8.251 billion, an increase of 12 - 14% over the previous year, or a normalized and constant currency increase of 14 - 15%Includes a $14 million negative foreign currency impact compared to prior guidance ratesAdjusted EBITDA$3.660 - $3.720 billion, a 45% adjusted EBITDA marginAn increase of $20 million compared to...