Equinix Delivers Strong Performance in Q1 2024 with Revenue of $2.13Bn

The world's digital infrastructure company Equinix, Inc. had strong start to the year, generating revenue of $2.13 billion in the first quarter, an increase of 6% compared to the year-ago quarter and 1% over the previous quarter.

The operating income for Q1 2024 stood at $364 million, growing 5% from the prior quarter, with an operating margin of 17%. Net income reached $231 million, 2% higher over the previous quarter. Net income per share attributable to common stockholders was $2.43, up slightly 1% on a quarterly basis.

Quarterly adjusted EBITDA rose 8% from the prior quarter to $992 million, with an adjusted EBITDA margin of 47%.

Regarding Q2 2024, Equinix forecasts revenues between $2.148 and $2.168 billion, up about 1 - 2% over the previous quarter. As for the full year of 2024, total revenues are expected to range between $8.692 and $8.792 billion, rising 6 - 7%.

"The rapidly evolving AI landscape continues to serve as a catalyst for economic expansion, creating immense potential for Equinix as our customers recognize the importance of digital initiatives in driving long-term revenue growth and operational efficiency," said Charles Meyers, President and CEO, Equinix. "This strong demand from customers across multiple sectors positions Platform Equinix as the trusted partner for digital leaders to interconnect and enhance the foundational digital infrastructure that powers our world."

In Q1, the company has appointed new CEO​, and Chief Customer and Revenue Officer​.