Equinix Reports Record Revenue Growth and Expands AI Capabilities

Equinix, a leader in digital infrastructure, reported strong financial results for the third quarter, marking its 87th consecutive quarter of revenue growth. The company generated revenues of $2.2 billion for the quarter ended September 30, a 7% increase year-over-year. Net income rose to $297 million, translating to $3.10 per share, although it showed a slight decline compared to the previous quarter.

Equinix also announced plans to expand its AI capabilities through a $15 billion joint venture with CPP Investments and GIC. This partnership aims to nearly triple the xScale data center portfolio, facilitating the construction of new facilities across multiple U.S. campuses to accommodate growing AI and hyperscale workloads.

"Our 87th consecutive quarter of revenue growth was also a record-breaking one for gross bookings," said CEO Adaire Fox-Martin. She noted continued robust demand for AI-enabling digital infrastructure from a diverse customer base. The company has 57 major projects underway in 35 markets across 22 countries and has raised its revenue guidance for the full year 2024, projecting revenues between $8.75 and $8.79 billion.