Equinix (EQIX) Misses Q2 EPS, Revenues Beat

Equinix (NASDAQ: EQIX) reported Q2 EPS of $1.52, $0.12 worse than the analyst estimate of $1.64. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.46 billion. AFFO was $6.35 per share, a 2% increase over the previous quarter.

GUIDANCE:

Revenues

• $5.919 - $5.989 billion, a 6 - 8% increase over the previous year, or a normalized and constant currency increase of 8 - 9%
• An increase of $23 million due to a foreign currency benefit when compared to the prior guidance FX rates

Adjusted EBITDA

• $2.781 - $2.851 billion, a 47% adjusted EBITDA margin
• An increase of $11 million due to a foreign currency benefit when compared to the prior guidance FX rates
• Assumes $20 million of integration costs

AFFO and AFFO per Share

• $2.107 - $2.177 billion, an increase of 9 - 13% over the previous year, or a normalized and constant currency increase of 14 - 18%; an increase of $54 million compared to prior guidance, including an $11 million foreign currency benefit
• $23.87 - $24.67 per share, an increase of 5 - 8% over the previous year, or a normalized and constant currency increase of 8 - 12%; reaffirms prior full-year AFFO per share guidance while fully absorbing the dilution impact from the $1.7 billion public offering of common stock
• Assumes $20 million of integration costs

For earnings history and earnings-related data on Equinix (EQIX) click here.

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