Equinix (EQIX) came out with quarterly funds from operations (FFO) of $9.22 per share, beating the Zacks Consensus Estimate of $8.82 per share. This compares to FFO of $8.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 4.54%. A quarter ago, it was expected that this data center operator would post FFO of $8.58 per share when it actually produced FFO of $8.86, delivering a surprise of 3.26%. Over the last four quarters, the comp ...

Company Operations - The company operates a global platform with 264 IBX data centers, including 20 xScale data centers, across 72 markets[130]. - The company entered into joint venture partnerships to develop and operate xScale data centers, targeting the growing hyperscale data center market[135]. - In April 2024, the company sold the Silicon Valley 12 data center site for $26 million as part of a new joint venture[146]. - The company plans to pursue additional expansion opportunities, including building new IBX data centers in existing markets that are near capacity[203]. Revenue and Growth - Recurring revenues accounted for over 90% of total revenues over the past three years, with the largest customer contributing approximately 3% of recurring revenues[138]. - Non-recurring revenues are expected to represent less than 10% of total revenues for the foreseeable future[139]. - Total revenues for the three months ended June 30, 2024, were $2,159 million, an increase of $140 million or 7% compared to $2,019 million in 2023[148]. - Recurring revenues accounted for 94% of total revenues, increasing by $106 million or 6% year-over-year[148]. - The company expects continued growth in revenues and costs across all regions, driven by business expansion and acquisitions[155][158]. Regional Performance - Americas revenues increased by $76 million or 9%, driven by $16 million from non-recurring services and $13 million from new IBX data centers[149][150]. - EMEA revenues rose by $34 million or 5%, primarily due to $12 million from new IBX data centers[150]. - Asia-Pacific revenues grew by $30 million or 7%, with $21 million from non-recurring services[150]. - Americas revenues increased by $133 million or 8% for the six months ended June 30, 2024, primarily due to new IBX data centers and increased orders[170]. - EMEA revenues grew by $70 million or 5%, driven by increased orders and new IBX data centers[170]. - Asia-Pacific revenues increased by $66 million or 8%, primarily due to non-recurring services and new IBX data centers[171]. Financial Performance - Income from operations increased to $436 million, up $104 million or 31% compared to $332 million in 2023[159]. - Adjusted EBITDA for the three months ended June 30, 2024, was $1,036 million, a 15% increase from $901 million in 2023, with growth driven by higher revenues from IBX data center expansion and organic growth[165]. - Total income from operations for the six months ended June 30, 2024, was $800 million, a 12% increase from $716 million in 2023[180]. - Adjusted EBITDA for the six months ended June 30, 2024, reached $2,028 million, reflecting a 10% increase from $1,846 million in 2023[186]. Expenses and Costs - Operating expenses are primarily fixed, with significant costs related to depreciation, rental payments, and utility costs[140]. - General and administrative expenses increased by $31 million or 8% to $437 million, primarily due to higher compensation and depreciation costs[157]. - Cost of revenues for the three months ended June 30, 2024, was $1,082 million, a 2% increase from $1,061 million in 2023[151]. - Cost of revenues for the six months ended June 30, 2024, totaled $2,173 million, a 5% increase from $2,067 million in 2023, with increases in all regions[172]. Cash Flow and Financing - As of June 30, 2024, the company had $2.0 billion in cash and cash equivalents and $3.9 billion available from a revolving credit facility[201]. - Net cash provided by operating activities for the first half of 2024 was $1,510 million, an increase of $77 million compared to $1,433 million in the same period of 2023[205]. - The company anticipates sufficient cash flow from operations and external financing to meet its operating requirements and support expansion projects[202]. - Interest expense increased to $110 million for the three months ended June 30, 2024, up from $100 million for the same period in 2023, primarily due to new senior notes issuance[161]. Debt and Interest - The company issued $750 million in senior notes with a 5.500% interest rate due June 15, 2034[146]. - Interest income for the period was $29 million, with an annualized yield of 6.69%, compared to $24 million and 3.77% in the prior year[160]. - Interest expense rose to $214 million for the six months ended June 30, 2024, up from $197 million in 2023, primarily due to new debt issuance[182]. - The total principal amount of foreign currency debt obligations was $2.7 billion as of June 30, 2024, with significant amounts in Euro ($1.2 billion) and British Pound ($632 million)[217]. Tax and Gains - The effective tax rate decreased to 14.9% for the six months ended June 30, 2024, down from 16.6% in 2023, mainly due to a full valuation allowance position of U.S. TRSs[185]. - The company recorded a gain of $18 million from asset sales during the six months ended June 30, 2024, primarily from the sale of the SV12 data center[180]. Currency and Market Impact - The company experienced a favorable foreign currency impact on revenue and operating income due to a weaker U.S. dollar against the British Pound during the first half of 2024[200]. - A hypothetical 10% strengthening of the U.S. Dollar would have resulted in a reduction of revenues by approximately $140 million for the six months ended June 30, 2024[219]. - An immediate 100-basis point increase in interest rates could increase annual interest expense by approximately $6 million based on the total balance of term loan borrowings as of June 30, 2024[222].

REDWOOD CITY, Calif., Aug. 7, 2024 /PRNewswire/ -- Quarterly revenues increased 7% over the same quarter last year to $2.2 billion, or 8% on a normalized and constant currency basis Net income increased 45% year-over-year to $301 million and adjusted EBITDA surpassed the $1 billion quarterly threshold for the first time Closed first multi-hundred-megawatt xScale campus in Atlanta; continue to augment and extend xScale portfolio to support cloud and AI training workload demands Equinix, Inc. (Nasdaq: EQIX), ...

Monty Rakusen VAL Vanguard Real Estate ETF (VNQ) Price % Change -15.82% SPDR® S&P 500® ETF Trust (SPY) Price % Change 23.44% Equinix Inc (EQIX) Price % Change 7.35% 40.00% Jul '22 Jan '23 Jan 24 Jul '23 Jul '24 Seeking Alpha 0. Jul 28, 2024, 10:32 AM EDT Powered by YCHARTS Not every REIT has suffered, however. Equinix, Inc. (EQIX) during the same timeframe is actually up 7% on a stock price point of view (excluding dividend), much better than the real estate market. Equinix over the last decade has been a f ...

The upcoming earnings release of Equinix will be of great interest to investors. The company's earnings report is expected on August 7, 2024. The company is forecasted to report an EPS of $8.82, showcasing a 9.7% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.16 billion, reflecting a 6.86% rise from the equivalent quarter last year. Empirical research indicates that these revisions in estimates have a direc ...

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. As such, the Zacks rating upgrade for Equinix is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revisions, and t ...

Thus, the number one thing that investors should understand about AI is the way it works. In most cases, whether a chatbot or a generative model, the AI is a series of probabilistic calculations trying to determine the likelihood of two data points being related and then repeating this series of calculations as many times as is necessary to go through its whole data source to answer the question or create an image that is an average of several images together to represent what the user requested. Equinix (E ...

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NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Equinix, Inc. (NASDAQ: EQIX). Shareholders who purchased shares of EQIX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/equinix-loss-submission-form/?id=88042&from=3 ALLEGATIONS: The complaint alleges tha ...

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Equinix, Inc. (NASDAQ: EQIX) between May 3, 2019 and March 24, 2024, both dates inclusive (the "Class Period"), of the important July 1, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Equinix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or cost ...