Equinix Reports $212 Million in Net Income for Q3 2022

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Equinix Reports $212 Million in Net Income for Q3 2022

<p>  Equinix (<a href="https://www.financemagnates.com/tag/equinix/" target="_blank">NQ:EQIX</a>), a Nasdaq-listed digital infrastructure company, published its financials for the third quarter of 2022 on Thursday. However, revenues and operating income recorded a modest increase in comparison to the previous quarter. The net income of $212 million was 2% lower when compared to <a href="https://www.financemagnates.com/fintech/news/equinix-reports-216-million-in-net-income-for-q2-2022/">Q2 2022</a>.</p><p class="MsoNormal">According to Equinix, a mild net income decrease was caused by lower non-recurring fees of the xScale <a href="https://www.financemagnates.com/terms/d/data-center/" target="_blank" id="15e21ee2-47b7-466a-8723-403e3053c1b2_1" class="terms__main-term">data center</a> and a favorable tax settlement in the previous quarter. It was partially covered by higher operational performance and a lower net interest expense. The net income per share reached $2.30, decreasing 3% from the last three-month period. </p><p class="MsoNormal">Revenues stood at $1.8 billion, increasing 1% while operating income rose to $333 million, which is up 5% compared to the previous quarter. For Equinix, it was the 79th consecutive quarter of revenue growth, and any other S&P 500 company could not hold on to such a longstanding streak. </p><p class="MsoNormal">"We had another record quarter as global demand for digital infrastructure continues to grow and customer preferences trend convincingly toward architectures that are highly distributed, persistently hybrid, deeply cloud-connected, and increasingly on-demand -- all factors fueling our position as a trusted partner in digital transformation," Charles Meyers, the President and CEO of Equinix, said.</p><p class="MsoNormal">"Even in a complex and challenging macro environment, our expansive global reach and robust interconnected ecosystems continue to attract a wide and diverse customer set, as businesses prioritize digital investments and embrace Platform Equinix as a point of nexus to support hybrid and multicloud."</p><p class="MsoNormal">In October 2022, Equinix <a href="https://www.financemagnates.com/forex/equinix-commits-45m-to-building-its-second-data-centre-in-colombia/">dedicated</a> $45 million to build its second data center in Colombia. According to the announcement, the new facility should launch in the first half of 2023.</p><p class="MsoNormal">Outlook for Q4 and Full 2022</p><p class="MsoNormal">For the full year, Equinix is expecting a visible surge in revenue. According to the forecasts shaded by the publicly-listed company, total revenue should range between $7.240 and $7.260 billion, increasing by 9% year-over-year (YoY). </p><p class="MsoNormal">However, in Q4 2022 alone, the company expects a modest increase of approximately 1%. Revenues should range between $1.848 and $1.868 billion. </p><p class="MsoNormal">"This guidance includes a negative $35 million foreign currency impact when compared to the average <a href="https://www.financemagnates.com/tag/fx/" target="_blank">FX </a>rates in Q3 2022. Adjusted EBITDA is expected to range between $821 and $841 million," Equinix highlighted. </p>

This article was written by Damian Chmiel at www.financemagnates.com.

Source: Equinix Reports $212 Million in Net Income for Q3 2022