Business
Equinix Reports Second Quarter 2024 Results
Record Gross Bookings and Continued xScale® Momentum Drives Company's 86th Consecutive Quarter of Top-Line Revenue Growth REDWOOD CITY, Calif., Aug. 7, 2024
About this update from Equinix, Inc.
[{"type":"text","content":"Record Gross Bookings and Continued xScale® Momentum Drives Company's 86th Consecutive Quarter of Top-Line Revenue Growth\n\n\nREDWOOD CITY, Calif., Aug. 7, 2024 /PRNewswire/ --\nQuarterly revenues increased 7% over the same quarter last year to $2.2 billion, or 8% on a normalized and constant currency basisNet income increased 45% year-over-year to $301 million and adjusted EBITDA surpassed the $1 billion quarterly threshold for the first timeClosed first multi-hundred-megawatt xScale campus in Atlanta; continue to augment and extend xScale portfolio to support cloud and AI training workload demandsEquinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today reported results for the quarter ended June 30, 2024. 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 2024 Results Summary\nRevenues$2.16 billion, a 2% increase over the previous quarterIncludes a $6 million negative foreign currency impact when compared to prior guidance ratesOperating Income$436 million, a 20% increase over the previous quarter, due to strong operating performance and a gain on the sale of our Silicon Valley 12 xScale asset contributed into our newly created Americas xScale joint ventureNet Income and Net Income per Share attributable to Common Stockholders$301 million, a 30% increase over the previous quarter, primarily due to higher income from operations$3.16 per share, a 30% increase over the previous quarterAdjusted EBITDA$1,036 million, a 4% increase over the previous quarter, and an adjusted EBITDA margin of 48%Includes a $3 million negative foreign currency impact when compared to prior guidance rates and $4 million of integration costsAFFO and AFFO per Share$877 million, a 4% increase over the previous quarter, due to strong operating performance; offset by seasonally higher recurring capital expenditures$9.22 per share, a 4% increase over the previous quarter2024 Annual Guidance Summary\nRevenues$8.692 - $8.772 billion, an increase of 6 - 7% over the previous year, or a normalized and constant currency increase of 7 - 8%, excluding the year-over-year impact of the power pass-throughIncludes a $10 ...