NASDAQ$EQIX
Equinix Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Equinix reported record gross bookings and achieved its 87th consecutive quarter of revenue growth.
Equinix reported a 7% increase in quarterly revenues year-over-year, reaching $2.2 billion. The company's performance was driven by robust pricing, strong deal conversion rates, and meaningful billable cabinet improvement. A new joint venture is expected to nearly triple the capital invested in xScale data center portfolio.
- Revenues increased 7% year-over-year to $2.2 billion.
- Operating income was $425 million.
- Net income attributable to common stockholders was $297 million, or $3.10 per share.
- AFFO was $866 million, or $9.05 per share.
Headline financials
Revenue & EPS history
Equinix · Revenue · Quarterly
$2.2B
Revenue by segment
Equinix · $1.96B total across 4 segments · Q3 2023
- Colocation$1.46B+13.0%74.7%
- Interconnection$353M+10.8%18.0%
- Managed Infrastructure$114M+10.9%5.8%
- Other$30.5M-2.7%1.6%
Forward guidance
For the fourth quarter of 2024, the company expects revenues to range between $2.262 and $2.302 billion, and adjusted EBITDA is expected to range between $1.010 and $1.050 billion.
Tailwinds
- Revenue guidance includes a $26 million foreign currency benefit when compared to the average FX rates in Q3 2024.
- Adjusted EBITDA guidance includes a $12 million foreign currency benefit when compared to the average FX rates in Q3 2024.
- Full year revenue is expected to increase by approximately 7% over the previous year.
- The $36 million increase from previously issued revenue guidance is due to $12 million of better-than-expected operating performance and a $24 million positive foreign currency benefit when compared to the prior guidance rates.
- AFFO is expected to range between $3.338 and $3.378 billion, an as-reported increase of 11 - 12% over the previous year.
Headwinds
- Revenue guidance excludes the quarter-over-quarter impact of the power pass-through.
- Adjusted EBITDA guidance includes $8 million of integration costs related to acquisitions and higher seasonal spending.
- Recurring capital expenditures are expected to range between $94 and $114 million, consistent with our typical seasonal investments in Q4.
- Adjusted EBITDA margin of 47%.
- Total capital expenditures are expected to range between $2.850 and $3.100 billion.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+1.2%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+1.6%
Avg return
30 days after
57%
39 / 69 earnings
Positive
+14.6%
Q1 2012
Best reaction
-6.6%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -1.0% | -2.0% | |
| Q4 2025 | +10.4% | +9.7% | +11.8% | |
| Q3 2025 | +4.6% | +4.0% | -5.6% | |
| Q2 2025 | -1.5% | -2.3% | -1.4% | |
| Q1 2025 | +0.1% | +1.7% | +3.3% | |
| Q4 2024 | -1.3% | -0.4% | -10.4% | |
| Q3 2024 | +0.2% | -1.1% | +8.3% | |
| Q2 2024 | +3.2% | +4.4% | +4.3% | |
| Q1 2024 | +8.5% | +9.1% | +5.8% | |
| Q4 2023 | +5.1% | +2.8% | +2.1% | |
| Q3 2023 | +2.2% | +1.6% | +12.9% | |
| Q2 2023 | -5.7% | -3.8% | -3.4% | |
| Q1 2023 | +3.7% | +5.3% | +7.7% | |
| Q4 2022 | -0.9% | -1.6% | -5.2% | |
| Q3 2022 | +5.6% | +9.4% | +24.7% | |
| Q2 2022 | +10.8% | +8.2% | +4.5% | |
| Q1 2022 | +2.3% | -5.0% | -6.2% | |
| Q4 2021 | +2.7% | +2.9% | +8.7% | |
| Q3 2021 | -4.0% | -6.0% | -5.1% | |
| Q2 2021 | -6.6% | -2.7% | -2.0% | |
| Q1 2021 | -1.1% | -0.4% | +3.2% | |
| Q4 2020 | -4.4% | -5.4% | -11.0% | |
| Q3 2020 | -4.2% | -4.5% | -9.4% | |
| Q2 2020 | +3.4% | +3.5% | +4.6% | |
| Q1 2020 | -1.6% | -1.2% | -1.9% | |
| Q4 2019 | +3.6% | +5.7% | +1.2% | |
| Q3 2019 | -0.1% | -4.3% | -0.1% | |
| Q2 2019 | +4.8% | +2.8% | +11.5% | |
| Q1 2019 | +2.3% | +5.2% | +6.8% | |
| Q4 2018 | +5.8% | +6.0% | +11.1% | |
| Q3 2018 | +3.6% | +4.6% | +1.7% | |
| Q2 2018 | -0.6% | -1.6% | -3.8% | |
| Q1 2018 | -5.9% | -6.8% | -5.6% | |
| Q4 2017 | -6.6% | -7.6% | -3.8% | |
| Q3 2017 | +5.4% | +6.1% | +1.2% | |
| Q2 2017 | -0.8% | -2.0% | +2.8% | |
| Q1 2017 | +1.1% | +3.4% | +8.5% | |
| Q4 2016 | -2.5% | -2.2% | -1.8% | |
| Q3 2016 | -2.6% | +0.7% | -4.9% | |
| Q2 2016 | -0.6% | -2.5% | -0.5% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -1.1% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | +3.9% | — | — | |
| Q4 2014 | +2.8% | — | — | |
| Q3 2014 | +7.4% | — | — | |
| Q2 2014 | -0.3% | — | — | |
| Q1 2014 | +2.0% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q3 2013 | +4.2% | — | — | |
| Q2 2013 | -4.9% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | +5.3% | — | — | |
| Q3 2012 | +5.2% | — | — | |
| Q2 2012 | +12.5% | — | — | |
| Q1 2012 | +14.6% | — | — | |
| Q4 2011 | +2.0% | — | — | |
| Q3 2011 | -5.4% | — | — | |
| Q2 2011 | -1.5% | — | — | |
| Q1 2010 | -0.4% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | +0.2% | — | — | |
| Q4 2008 | +0.2% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q3 2009 | +0.0% | — | — | |
| Q2 2010 | -0.0% | — | — | |
| Q4 2009 | -0.0% | — | — | |
| Q2 2009 | -0.0% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro