Equinix Sees 70th Consecutive Quarter of Revenue Growth in Q2

Global interconnection and data center company Equinix has reported its financial results for the second quarter ended on the 30th of June 2020, in which the company has achieved its 70th consecutive quarter of revenue growth.

During the three-month period, Equinix achieved one of its strongest quarters in terms of interconnection growth and activity across the company's history.

In the second quarter of 2020, the Data Center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term company posted revenues of $1.47 billion. This is an increase of 6 percent over the same quarter of the previous year. It is slightly higher than the previous quarter (Q1) by 2 percent.

Operating income for the second quarter was $282 million. This is higher from the first quarter of 2020 by 11 percent. Equinix also reported an operating margin of 19 percent for the period.

Net income came in at $133 million for Q2 of 2020. This is 12 percent higher than the previous quarter.

Equinix forecasts up to 8% uptick in full-year revenue

Looking to the future, Equinix expects revenues for the whole of 2020 to fall in the range of $5.919 - $5.989 billion. This would equal an uptick of 6 - 8 percent from the previous year or a normalized and constant currency increase of 8 - 9 percent.

Commenting on the results, Charles Meyers, President and CEO, Equinix said in the statement: "Even in the face of an uncertain macro environment created by the global pandemic, the Equinix business continues to perform well.

"The demand drivers for digital infrastructure have never been stronger, and our relevance in enabling our customers to respond effectively to their digital transformation imperatives continues to increase.

"The power of our global platform and the resiliency and adaptability of our global teams are helping us create distinct and durable value for our customers, driving strong business results and allowing us to remain focused on delivering a positive impact to our many stakeholders as we build an enduring and sustainable culture and business."