Equinix Reports 5% QoQ Growth in Q3 Operating Income

Source: Fanny 2022-11-03

Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure companyTM, reported results for the quarter ended September 30, 2022.

Third Quarter 2022 Results Summary

Revenues

$1.8 billion, a 1% increase over the previous quarter
Includes a $17 million reduction in non-recurring revenues and a negative $9 million foreign currency impact when compared to prior guidance rates

Operating Income

$333 million, a 5% increase over the previous quarter, an operating margin of 18%

Net Income and Net Income per Share attributable to Equinix

$212 million, a 2% decrease from the previous quarter, primarily due to lower non-recurring xScale® fees, a Q2 favorable tax settlement, partially offset by higher income from operations from strong operating performance and lower net interest expense
$2.30 per share, a 3% decrease from the previous quarter

Adjusted EBITDA

$871 million, a 1% increase over the previous quarter, an adjusted EBITDA margin of 47%
Includes a negative $5 million foreign currency impact when compared to prior guidance rates
Includes $4 million of integration costs

AFFO and AFFO per Share

$712 million, a 3% increase over the previous quarter, primarily due to strong operating performance and lower income tax, partially offset by seasonally higher recurring capital expenditures
$7.73 per share, a 2% increase over the previous quarter
Includes $4 million of integration costs

Financial Results

Equinix