Equinix Reports Financial Results for the Third Quarter of 2020

Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company, today discloseded its financial results for the quarter ended September30, 2020, representing the company's 71st consecutive quarter of revenue growth.

The company reported revenue of $1.520 billion, a 3% increase over the previous quarter and operating income of $288 million, a 2% increase over the previous quarter and an operating margin of 19%. Net income was $67 million, a 50% decrease from the previous quarter and diluted earnings per share were $0.74, $0.74 per share, a 51% decrease from the previous quarter. On an adjusted basis, EBITDA was $737 million, a 49% EBITDA margin. AFFO was $580 million, a 4% increase over the previous quarter and diluted earnings per share were $6.48, a 2% increase over the previous quarter.

Charles Meyers, President and CEO, Equinix stated:" As businesses navigate the economic, health and societal changes happening in the world, Equinix is in a unique position to help our customers adapt, respond and accelerate their digital transformation – a key driver for economic recovery. Companies in every sector are embracing digital transformation as a critical business priority, and we are well-positioned to help our customers scale with agility and create digital advantage. We continue to invest in our strategy, evolving our platform in response to evolving customer needs, expanding our global reach to accelerate digital delivery, committing to a more sustainable future and ensuring that our culture is widely recognized as a place that attracts, embraces, inspires and develops exceptional and diverse talent."