Business
Equinix Reports Third Quarter 2021 Results
As the Digitization of Business Models Accelerates, Equinix Delivers Another Consecutive Quarter of Revenue Growth REDWOOD CITY, Calif., Nov. 3, 2021
About this update from Equinix, Inc.
[{"type":"text","content":"As the Digitization of Business Models Accelerates, Equinix Delivers Another Consecutive Quarter of Revenue Growth\n\n\nREDWOOD CITY, Calif., Nov. 3, 2021 /PRNewswire/ -- \nQuarterly revenues increased 10% over the same quarter last year to $1.675 billion, or 8% on a normalized and constant currency basis, representing the company's 75th consecutive quarter of revenue growth Record channel bookings accounted for more than 35% of total bookings, nearly 50% of enterprise bookings, and more than 60% of new logos in Q3 Interconnection revenues continued to outpace colocation revenues in Q3 with total interconnections increasing to more than 414,000 Significant milestones in the quarter included closing the GPX India acquisition to enter the strategic market of India and expanding the xScaleTM program with a new agreement to form a $575 million joint venture in AustraliaEquinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure companyTM, today reported results for the quarter ended September 30, 2021. 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.\nThird Quarter 2021 Results Summary\nRevenues $1.675 billion, a 1% increase over the previous quarter Includes a $6 million negative foreign currency impact when compared to prior guidance rates Operating Income $282 million, a 1% increase over the previous quarter and an operating margin of 17% Adjusted EBITDA $786 million, a 47% adjusted EBITDA margin Includes a $3 million negative foreign currency impact when compared to prior guidance rates Includes $3 million of integration costs Net Income and Net Income per Share attributable to Equinix $152 million, a 123% increase over the previous quarter, primarily due to lower debt redemption costs and operating performance $1.68 per share, a 121% increase over the previous quarterAFFO and AFFO per Share $628 million, a 1% decrease from the previous quarter, including a $13 million increase in tax expense attributable to lower debt redemption costs $6.94 per share, a 1% decrease from the previous quarter Includes $3 million of integration costs2021 Annual Guidance Summary\nRevenues $6.614 - $6.634 billion, an increase of 10 ...