Global Footprint and Data Center Operations - The company's global footprint includes 268 IBX data centers, including 20 xScale data centers and the MC1 data center, across 73 markets worldwide[145] - Cabinet utilization rates were approximately 78% and 80% as of September 30, 2024 and 2023, respectively[150] - The company plans to expand its IBX data centers in existing markets that are at or near capacity within the next year[256] Revenue Composition and Customer Concentration - Recurring revenues comprised more than 90% of total revenues over the past three years, with more than 90% of monthly recurring revenue bookings coming from existing customers[154] - The largest customer accounted for approximately 3% of recurring revenues for both the three and nine months ended September 30, 2024 and 2023[154] - The top 50 customers accounted for approximately 36% of recurring revenues for the three and nine months ended September 30, 2024 and 37% for the same period in 2023[154] - Non-recurring revenues are expected to represent less than 10% of total revenues for the foreseeable future[155] Financial Performance and Regional Breakdown - Total revenues for Q3 2024 increased by $140 million (7%) year-over-year, reaching $2.201 billion, with recurring revenues accounting for 94% of total revenues[172] - Americas revenues grew by $45 million (5%) in Q3 2024, driven by $29 million from new IBX data centers and increased customer orders[173][174] - EMEA revenues increased by $34 million (5%) in Q3 2024, with $6 million attributed to new IBX data centers and higher customer orders[174] - Asia-Pacific revenues surged by $61 million (14%) in Q3 2024, primarily due to $51 million from non-recurring services to joint ventures and $10 million from new IBX data centers[175] - Americas revenue for the nine months ended September 30, 2024, increased by $31 million (8%) to $442 million, driven by non-recurring services and IBX data center expansion[214][228] - Asia-Pacific revenue grew by $12 million (15%) to $93 million, primarily due to higher compensation costs and bad debt expenses[214][218] - Total revenue for the nine months ended September 30, 2024, increased by $44 million (7%) to $682 million, with consistent growth across all regions[214] Cost of Revenues and Expenses - Total cost of revenues increased by $29 million (3%) in Q3 2024, with Americas costs rising by $28 million (7%) due to higher depreciation, rent, and utilities expenses[176][177] - EMEA cost of revenues decreased by $32 million (8%) in Q3 2024, driven by lower power costs in the UK and France[178] - Asia-Pacific cost of revenues increased by $33 million (14%) in Q3 2024, primarily due to $22 million in costs for non-recurring services and $8 million in higher depreciation from IBX expansions[179] - Americas sales and marketing expenses increased by $31 million (8%), driven by higher compensation, travel, and advertising costs[216] - Asia-Pacific sales and marketing expenses rose by $12 million (15%), mainly due to higher bad debt expenses and compensation costs[218] - Americas general and administrative expenses increased by $93 million (12%), primarily due to higher depreciation and compensation costs[220][222] Income from Operations and Adjusted EBITDA - Income from operations increased by $44 million (12%) in Q3 2024, with EMEA contributing $50 million (30%) growth, partially offset by a $21 million (24%) decline in Americas income due to higher depreciation and business growth costs[189] - EMEA income from operations increased by $50 million or 30% (26% on a constant currency basis) due to higher revenues from IBX data center expansion and lower utilities costs[190] - Asia-Pacific income from operations increased by $15 million or 12% (14% on a constant currency basis) driven by higher revenues from non-recurring services and IBX data center expansion[191] - Americas adjusted EBITDA increased by $22 million or 5% (7% on a constant currency basis) due to higher revenues from IBX data center expansion and organic growth[200] - EMEA adjusted EBITDA increased by $62 million or 20% (19% on a constant currency basis) driven by higher revenues from IBX data center expansion and lower utilities costs[200] - Asia-Pacific adjusted EBITDA increased by $28 million or 13% (14% on a constant currency basis) due to higher revenues from non-recurring services and IBX data center expansion[201] - EMEA income from operations increased by $55 million (11%), driven by IBX data center expansion and organic growth[229] - Asia-Pacific income from operations surged by $100 million (29%), supported by non-recurring services and lower utilities costs[230] - Adjusted EBITDA for the nine months ended September 30, 2024, increased by $294 million (11%), with Asia-Pacific contributing $118 million (18%)[238][241] - Adjusted EBITDA for the nine months ended September 30, 2024, was $3.076 billion, compared to $2.782 billion in the same period in 2023[248] Financial Instruments and Debt - The company issued $750 million in 5.500% senior notes due June 15, 2034 in May 2024[165] - The company issued €600 million in 3.650% senior notes due September 3, 2033 and CHF100 million in 1.558% senior notes due September 4, 2029 in September 2024[167] - The company established a new $2.0 billion "at the market" (ATM) program in October 2024, allowing for the sale of common stock, though no sales have been made under this program to date[169] - The company has approximately $14.7 billion in principal from senior notes and $694 million in principal from term loans, mortgage payable, and other loans payable as of September 30, 2024[264] - The company has $3.6 billion in foreign currency debt obligations, with $1.9 billion denominated in Euro and $668 million in British Pound as of September 30, 2024[274] - A 10% fluctuation in the U.S. Dollar against foreign currencies would impact the company's obligation to settle foreign currency debt by approximately $399 million (weaker USD) or $327 million (stronger USD)[274] - The company has $5.4 billion in cross-currency interest rate swaps, with $2.2 billion designated as net investment hedges and $1.0 billion as cash flow hedges as of September 30, 2024[275] Cash Flow and Capital Expenditures - Net cash provided by operating activities increased by $50 million to $2,268 million for the nine months ended September 30, 2024, compared to $2,218 million in the same period in 2023[262] - Net cash used in investing activities increased by $883 million to $2,826 million for the nine months ended September 30, 2024, compared to $1,943 million in 2023[262] - Net cash provided by financing activities increased by $1.012 billion to $1,245 million for the nine months ended September 30, 2024, compared to $233 million in 2023[262] - Capital expenditures increased by $294 million, and real estate acquisitions increased by $134 million for the nine months ended September 30, 2024[263] - Proceeds from senior notes increased by $622 million, and proceeds from the 2020 and 2022 ATM Programs increased by $675 million for the nine months ended September 30, 2024[263] Dividends and Shareholder Returns - The company paid a quarterly cash dividend of $4.26 per share on September 18, 2024 and declared another $4.26 per share dividend payable on December 11, 2024[162] Acquisitions and Joint Ventures - The company entered into an agreement to acquire three data centers in the Philippines for $180 million, expected to close in Q1 2025[165] - The company entered into a joint venture agreement in October to develop and operate xScale data centers in the Americas region, subject to regulatory approval and other closing conditions[168] Interest and Tax Expenses - Interest income increased to $35 million with an annualized yield of 5.32%, up from $23 million and 3.93% in the same period last year[192] - Interest expense increased to $117 million from $102 million due to debt issuances in 2024, including Senior Notes[193] - Income tax expense increased to $54 million with an effective tax rate of 15.4%, up from $20 million and 6.8% in the same period last year[198] - Interest income for the nine months ended September 30, 2024, rose to $88 million, with an annualized yield of 5.88%, driven by time deposits and loan interest[231] Net Income and Funds from Operations - Net income for the nine months ended September 30, 2024, was $828 million, compared to $742 million in the same period in 2023[248] - FFO attributable to common stockholders for the nine months ended September 30, 2024, was $1.759 billion, compared to $1.605 billion in the same period in 2023[252] - AFFO attributable to common stockholders for the nine months ended September 30, 2024, was $2.586 billion, compared to $2.328 billion in the same period in 2023[252] Liquidity and Cash Position - The company had $3.2 billion in cash, cash equivalents, and short-term investments as of September 30, 2024[254] - The company had $3.9 billion of additional liquidity available from its $4.0 billion revolving facility[254] Currency Impact - The U.S. dollar's weakness relative to the British Pound had a favorable impact on revenue and operating income for the nine months ended September 30, 2024[253] - The U.S. dollar's strength relative to the Japanese Yen had an unfavorable impact on revenue and operating income for the nine months ended September 30, 2024[253] Lease and Contractual Commitments - Total lease payments amount to approximately $5.6 billion, with $2.8 billion in unaccrued capital expenditure contractual commitments and $2.0 billion in other non-capital purchase commitments[264][265] Depreciation and Operational Evaluation - The company excludes depreciation from its results of operations when evaluating its operations, as it relates to initial construction costs of IBX data centers[245]

Equinix Investor Relations Contacts: Equinix Media Contacts: invest@equinix.com press@equinix.com FOR IMMEDIATE RELEASE EQUINIX REPORTS THIRD-QUARTER 2024 RESULTS th Record Gross Bookings and a Dif erentiated Market Position Drive the Company's 87 Quarter of Consecutive Revenue Growth • Quarterly revenues increased 7% on both an as-reported and normalized and constant currency basis over the same quarter last year to $2.2 billion • Robust pricing, strong deal conversion rates and meaningful billable cabinet ...

REDWOOD CITY, Calif., Oct. 30, 2024 /PRNewswire/ -- Quarterly revenues increased 7% on both an as-reported and normalized and constant currency basis over the same quarter last year to $2.2 billion Robust pricing, strong deal conversion rates and meaningful billable cabinet improvement translated into strong performance against expectations Accelerated pursuit of growing artificial intelligence (AI) demand in the U.S. with the signing of a greater than $15 billion joint venture, expected to nearly triple th ...

Equinix, Inc. (EQIX) is scheduled to report third-quarter 2024 results on Oct. 30 after market close. The company's quarterly results are likely to reflect year-over-year growth in revenues and adjusted funds from operations (FFO) per share. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the previous quarter, this Redwood City, CA-based data center real estate investment trust (REIT) reported a surprise of 4.5% in terms of AFFO per share. Its quarterly results reflected steady ...

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In its upcoming report, Equinix (EQIX) is predicted by Wall Street analysts to post quarterly earnings of $8.70 per share, reflecting an increase of 6.2% compared to the same period last year. Revenues are forecasted to be $2.2 billion, representing a year-over-year increase of 6.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Prior to a ...

Core Insights - The Federal Reserve announced a 50 basis point cut in interest rates on September 18, marking the first cut in over three years, aimed at addressing a slowing economy and a soft labor market, with no further meetings anticipated until November [1] Group 1 - The interest rate cut is a response to economic conditions, indicating a proactive approach by the Federal Reserve to stimulate growth [1] - The decision reflects concerns over the labor market, suggesting potential weaknesses that could impact consumer spending and overall economic activity [1] - The timing of the cut, being the first in over three years, highlights a significant shift in monetary policy as the Federal Reserve adapts to current economic challenges [1]

REDWOOD CITY, Calif., Oct. 4, 2024 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced that it will hold its quarterly conference call on Wednesday, October 30, 2024, at 5:30 p.m. ET (2:30 p.m. PT). The company will discuss third-quarter results for the period ended September 30, 2024. To hear the conference call live, please dial 1-517-308-9482 (domestic and international) and reference the passcode (EQIX). A simultaneous live webcast of the call will ...

REDWOOD CITY, Calif., Oct. 1, 2024 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced the signing of a joint venture (JV) agreement, subject to closing conditions, in the form of a limited liability partnership with GIC and Canada Pension Plan Investment Board (CPP Investments), with the intent to raise over US$15 billion in capital together with its partners. Driven by increasing artificial intelligence (AI) and cloud growth, the JV is intended to acc ...

All three of these REITs have solid upside. Real estate investment trusts (REITs) have done well the past few months with the anticipation of interest rate cuts. Now those cuts have arrived, and there are still plenty of high-quality REITs with solid upside. In today's video, I will cover 3 REITs to add to your buy list. One of them is Equinix (EQIX 1.23%). Watch this short video to learn more, consider subscribing to the channel, and check out the special offer in the link below. *Stock prices used were en ...