Equinix Releases Financial Results for First Quarter 2021

Equinix, Inc.​, the world’s digital infrastructure company, has reported financial results for the first quarter ended March 31, 2021.

Revenues

$1.596 billion, a 2% increase over the previous quarter

Includes a $6 million negative foreign currency impact when compared to prior guidance rates

Operating Income

$298 million, a 30% increase over the previous quarter and an operating margin of 19%

Adjusted EBITDA

$773 million, a 48% adjusted EBITDA margin, due to strong operating performance including lower than expected utilities and repairs and maintenance expenses

Includes a $3 million negative foreign currency impact when compared to prior guidance rates

Includes $4 million of integration costs

Net Income and Net Income per Share attributable to Equinix

$156 million, a 207% increase over the previous quarter, primarily due to strong operating performance and lower acquisition and debt redemption costs

$1.74 per share, a 205% increase over the previous quarter

AFFO and AFFO per Share

$627 million, a 21% increase over the previous quarter

$6.98 per share, a 21% increase over the previous quarter

Includes $4 million of integration costs

"We had a great start to the year, and as businesses continue to navigate towards a post-pandemic world, Equinix is uniquely well-positioned. Digital transformation continues to accelerate, and businesses across a broad range of verticals are recognizing that their infrastructure can be a key source of competitive advantage in an increasingly digital world”, Charles Meyers, President and CEO, Equinix said, “Q1 also marked a milestone for Equinix as we are now the market leader in retail colocation in all three regions of the world, taking the number-one spot in Asia-Pacific for the first time. Demand is strong with global IT spend expected to rebound above pre-pandemic levels as enterprises increase hybrid cloud spending, and service providers build out their delivery platforms to tap into this demand.”