Equinix's quarterly revenues increased 10% over the same quarter last year to $1.8 billion, or 11% on a normalized and constant currency basis, representing the company's 79th consecutive quarter of revenue growth—the longest streak of any S&P 500 company. Net income amounted to $212 million, a 2% decrease from the previous quarter, primarily due to lower non-recurring xScale® fees, a Q2 favorable tax settlement, partially offset by higher income from operations from strong operating performance and lower net interest expenses.
Charles Meyers, President and CEO, Equinix: "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. 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."
- Equinix continued to expand its Data Center Services with 46 major builds underway in 31 markets, across 21 countries. Recent activity includes:
- A $74 million expansion to Indonesia with plans for an International Business Exchange™ (IBX) data center in the heart of Jakarta, scheduled to open by the second half of 2024.
- A $45 million investment in Colombia for the construction of BG2, Equinix's second IBX data center in Bogotá, scheduled to open in the first half of 2023.
- The addition of six recently approved projects in Q3 in Barcelona, Milan, Montreal, Jakarta, Silicon Valley and Tokyo.
- Equinix continues to extend its leadership as the most interconnected platform with four cloud on-ramp wins this quarter bringing Equinix's portfolio to more than 200 on-ramps across 44 markets. Equinix now has 11 metros enabled with five or more on-ramps to the largest cloud players.
- ~55% of expansion cabinets are in metros that generate >$100M of annual revenues, leveraging established ecosystem density and installed customer base
https://www.equinix.com/newsroom/press-releases/2022/11/equinix-reports-third-quarter-2022-results
