2023-05-03 16:10:31 ET
- Equinix press release ( NASDAQ: EQIX ): Q1 FFO of $5.87 beats by $0.54 .
- Revenue of $2B (+15.6% Y/Y) beats by $30M .
- Closed approximately 4,000 deals across more than 3,000 customers
- Customer deployments across multiple regions increased to 76% of total recurring revenue, an increase of 1% quarter over quarter, demonstrating the value of the Equinix global platform.
- $384 million, a 36% increase over the previous quarter, due to strong operating performance and flat quarter-over-quarter SG&A spend and an operating margin of 19%.
- $944 million, a 13% increase over the previous quarter, and an adjusted EBITDA margin of 47%.
- 2023 Guidance: Revenues $8.175 - $8.275 billion, an increase of 13 - 14% over the previous year, or a normalized and constant currency increase of 14 - 15%
- An increase of $30 million compared to prior guidance at the mid-point
- Adjusted EBITDA $3.635 - $3.715 billion, a 45% adjusted EBITDA margin, an increase of $20 million compared to prior guidance at the mid-point
- Assumes $33 million of integration costs
- AFFO and AFFO per Share $2.927 - $3.007 billion, an increase of 8 - 11% over the previous year, or a normalized and constant currency increase of 10 - 13%
- An increase of $44 million compared to prior guidance at the mid-point
- $31.15 - $32.00 per share, an increase of 5 - 8% over the previous year, or a normalized and constant currency increase of 8 - 11%.
For further details see:
Equinix FFO of $5.87 beats by $0.54, revenue of $2B beats by $30M