Equinix, a major data infrastructure provider in the financial services industry, yesterday released its results for the quarter ended 31 March 2022 (Q1 2022). The company saw record growth across different business segments for the reported period.
Quarterly revenues reached $1.7 billion in Q1 2022, which is 9% higher compared to the same period last year. Operating income touched $267 million, up by 7% compared to the previous quarter. Net income for the reported period came in at $147 million, an increase of 20% compared to the previous quarter.
Equinix noted that in the first quarter of 2022, more than 4,200 deals were executed. Q1 2022 remained solid for Equinix Metal and Network Edge digital services offerings.
Charles Meyers, President and CEO of Equinix, said: “We had a great start to 2022. While there are a number of macroeconomic factors we continue to proactively manage, the business continues to perform exceptionally well. The underlying demand for digital infrastructure continues to rise as enterprises in diverse sectors across the globe prioritize digital transformation and service providers continue to innovate, distribute and scale their infrastructure globally in response to that demand.”
In the past year, Equinix saw strong growth in revenues amid a jump in the demand for its services. This year, the company enhanced its global presence and completed the $320 million acquisition of MainOne.
Outlook
Regarding performance in 2022, Equinix is expecting strong growth in revenues and EBITDA. The company is also planning to expand its operations in the near future.
“For the full year of 2022, total revenues are expected to range between $7.291 and $7.341 billion, a 10 – 11% increase over the previous year, or a normalized and constant currency increase of approximately 10%. This updated increase in full-year guidance of $89 million includes $42 million of better-than-expected business performance, $50 million from the MainOne acquisition, and a negative $3 million foreign currency impact when compared to the prior guidance rates,” Equinix added.
Equinix, a major data infrastructure provider in the financial services industry, yesterday released its results for the quarter ended 31 March 2022 (Q1 2022). The company saw record growth across different business segments for the reported period.
Quarterly revenues reached $1.7 billion in Q1 2022, which is 9% higher compared to the same period last year. Operating income touched $267 million, up by 7% compared to the previous quarter. Net income for the reported period came in at $147 million, an increase of 20% compared to the previous quarter.
Equinix noted that in the first quarter of 2022, more than 4,200 deals were executed. Q1 2022 remained solid for Equinix Metal and Network Edge digital services offerings.
Charles Meyers, President and CEO of Equinix, said: “We had a great start to 2022. While there are a number of macroeconomic factors we continue to proactively manage, the business continues to perform exceptionally well. The underlying demand for digital infrastructure continues to rise as enterprises in diverse sectors across the globe prioritize digital transformation and service providers continue to innovate, distribute and scale their infrastructure globally in response to that demand.”
In the past year, Equinix saw strong growth in revenues amid a jump in the demand for its services. This year, the company enhanced its global presence and completed the $320 million acquisition of MainOne.
Outlook
Regarding performance in 2022, Equinix is expecting strong growth in revenues and EBITDA. The company is also planning to expand its operations in the near future.
“For the full year of 2022, total revenues are expected to range between $7.291 and $7.341 billion, a 10 – 11% increase over the previous year, or a normalized and constant currency increase of approximately 10%. This updated increase in full-year guidance of $89 million includes $42 million of better-than-expected business performance, $50 million from the MainOne acquisition, and a negative $3 million foreign currency impact when compared to the prior guidance rates,” Equinix added.
Source: https://www.financemagnates.com/institutional-forex/equinix-reports-9-yoy-surge-in-q1-revenues/