Equinix (EQIX) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Equinix reported $2.2 billion in revenue for Q3 2024, a year-over-year increase of 6.8%, with an EPS of $9.05 compared to $2.93 a year ago [1] - The revenue matched the Zacks Consensus Estimate, with a slight surprise of -0.01%, while the EPS exceeded expectations by 4.02% [1] Financial Performance Metrics - Americas Cabinet Equivalent Capacity was 144,300, slightly below the estimated 147,433 [3] - EMEA Cabinet Equivalent Capacity was 136,900, exceeding the estimate of 128,092 [3] - Asia-Pacific Cabinet Equivalent Capacity was 88,200, above the estimate of 80,442 [3] - EMEA geographic revenues reached $743 million, close to the estimate of $744.93 million, reflecting a year-over-year change of +4.8% [3] - Americas geographic revenues were $958 million, compared to the estimate of $981.27 million, with a year-over-year change of +4.9% [3] - Asia-Pacific geographic revenues were $500 million, surpassing the estimate of $476.21 million, showing a year-over-year change of +14% [3] - Recurring revenues totaled $2.06 billion, slightly below the estimate of $2.07 billion, with a year-over-year change of +5% [3] - Non-recurring revenues were $142 million, exceeding the estimate of $128.69 million, with a year-over-year change of +42% [3] - Managed infrastructure recurring revenues were $118 million, slightly below the estimate of $120.57 million, with a year-over-year change of +3.9% [3] - Interconnection recurring revenues were $384 million, slightly above the estimate of $381.01 million, with a year-over-year change of +8.9% [3] Stock Performance - Equinix shares returned +2.6% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]