Wednesday, February 13, 2013

Equinix Revenue Grew 4% YoY in Q4

Equinix reported Q4 2012 revenue of $506.5 million, a 4% increase over the previous quarter and a 20% increase over the same quarter last year. This result included $18.4 million in revenues from the Company’s Asia Tone and ancotel acquisitions for the quarter and excluded $2.8 million of revenues from discontinued operations.  Net income for Q4 was $44.9 million, or $0.92 per share and diluted net income per share attributable to Equinix of $0.88.

“2012 was a milestone year for Equinix. We delivered half a billion dollars of revenue in the fourth quarter, underscoring the scale and reach of our business,” said Steve Smith, CEO of Equinix. “With our entry into Mainland China, Jakarta and Dubai as well as our continued investment in existing markets, we now have over 7 million of gross square feet of capacity, making us the largest retail colocation provider in the world. We believe the value of our global interconnection platform and the strength of our business ecosystems puts us in a strong position to deliver exceptional value to our customers.”

Some notes from the company's earnings presentation:

  • For 2012, ongoing CAPEX amounted to about 8% of 2012 revenues
  • Equinix expects its ongoing CAPEX to trend down to 5% of revenues over time.
  • Equinix now has 24 U.S. IBX data centers -- the average age is 6.9 years.
  • The current average utilization for Equinix data centers is 85%.