Wednesday, November 3, 2021

Equinix hits revenue of $1.675B, 31 major projects underway

Equinix reported quarterly revenue of $1.675 billion, up 8% on a normalize dand constant currency basis compared to a year earlier and up 1% over the previous quarter. Net income was $152 million, a 123% increase over the previous quarter, primarily due to lower debt redemption costs and operating performance.

The company said record channel bookings accounted for more than 35% of total bookings, nearly 50% of enterprise bookings, and more than 60% of new customers in Q3.

Charles Meyers, President and CEO, Equinix:

"The pandemic has triggered an accelerated need to digitize business models in virtually every segment of the economy, and our strong Q3 results are reflective of this increasing demand for digital services. As the world's digital infrastructure company, Equinix remains uniquely positioned to help businesses as they shift towards distributed, hybrid and multicloud as the clear architecture of choice."

Some additional highlights:

  • Interconnection revenues continued to outpace colocation revenues in Q3 with total interconnections increasing to more than 414,000
  • Significant milestones in the quarter included closing the GPX India acquisition to enter the strategic market of India and expanding the xScale program with a new agreement to form a $575 million joint venture in Australia.
  • 11 major data center openings and expansions were delivered in Q3, including the key markets of Frankfurt, New York and Singapore.
  • 31 additional major projects are underway across 23 markets in 16 countries.