Equinix Reports $216 Million in Net Income for Q2 2022

Nasdaq-listed digital infrastructure company, Equinix published its financial results for the second quarter of 2022 yesterday. The company witnessed a sharp surge in net income as the number touched $216 million, which is 47% higher compared to the previous quarter.

According to Equinix, the strong operating performance of the company and a favorable tax settlement played an important role in its growth during the last quarter. Operating income in Q2 touched $318 million, which is up 19% compared to the previous quarter.

With a spike of almost 5%, revenues for the second quarter of 2022 came in at $1.8 billion. The number includes a negative foreign currency impact of almost $20 million.

Charles Meyers, the President and CEO of Equinix, commented: "With record Q2 gross bookings that sizably surpassed the prior peak, Equinix had an outstanding first half of 2022, and our business continued to deliver strong and consistent results. The demand environment and our pipeline remain robust despite a complex global macroeconomic and political landscape, as we continue to enable digital leaders on their transformation journey."

In May 2022, Equinix announced the extension of its collaboration with Colt to facilitate digital transformation in France. Earlier this year, the company acquired data centers in Chile and Peru.

Outlook

For the full year of 2022, Equinix is expecting a decent surge in revenues. According to the details shared by the Nasdaq-listed firm, the company’s revenues are expected to range between $7.259 and $7.299 billion.

“For the third quarter of 2022, the Company expects revenues to range between $1.827 and $1.847 billion, a 1 - 2% increase over the prior quarter on both an as-reported and normalized and constant currency basis. This guidance includes a negative $12 million foreign currency impact when compared to the average FX rates in Q2 2022. Adjusted EBITDA is expected to range between $831 and $851 million,” Equinix highlighted.