Core Viewpoint - Equinix Inc. reported strong financial results for Q1 2025, with adjusted funds from operations (AFFO) per share of $9.67, exceeding estimates and reflecting a 9.1% year-over-year increase, driven by robust demand for digital infrastructure and services [1][2] Financial Performance - Total quarterly revenues reached $2.23 billion, surpassing the Zacks Consensus Estimate of $2.22 billion, and increased by 4.6% year over year [2] - Recurring revenues were $2.087 billion, up 3.8% from the previous year, while non-recurring revenues rose 17.9% to $138 million [3] - Adjusted EBITDA was reported at $1.067 billion, a 7.6% increase year over year, with an adjusted EBITDA margin of 48% [4] - AFFO increased by 12.3% from the prior year to $947 million [4] Balance Sheet Position - As of March 31, 2025, Equinix had $7.6 billion in available liquidity and total debt of approximately $18.2 billion, with a net leverage ratio of 3.4 [5] Dividend Announcement - Equinix's board declared a quarterly cash dividend of $4.69 per share, payable on June 18, 2025, to shareholders on record as of May 21, 2025 [6] 2025 Guidance Revision - For Q2 2025, Equinix projects revenues between $2.244 billion and $2.264 billion, indicating a 1% increase over the prior quarter, with adjusted EBITDA expected in the range of $1.095-$1.115 billion [7] - The company raised its 2025 AFFO per share guidance to between $37.36 and $38.17, suggesting a 7-9% increase from the previous year [7] - Total revenue for 2025 is estimated to be between $9.175 billion and $9.275 billion, reflecting a growth of 5-6% from 2024 [8]