Equinix reported Q3 2019 revenues of $1.397 billion, up 9% year-over-year, which includes $8 million of negative foreign currency impact when compared to prior guidance rates. GAAP net income amounted to $121 million, a 16% decrease from the previous quarter including a $16 million increased income tax expense attributable to FX hedge gains.
Charles Meyers, President and CEO, Equinix, stated: “We had another great quarter, building on our market leadership and unlocking the power of Platform Equinix by expanding our geographic reach, enhancing our market-leading interconnection portfolio and launching new offerings that respond to the evolving needs of our customers. We have a clear view of our strategy and are actively building new capabilities that will enable us to achieve our vision for the future of Platform Equinix, allowing customers to reach everywhere, interconnect everyone and integrate everything on their digital transformation journey.”
Some highlights:
- Equinix achieved its best-ever third quarter bookings with strong performance across all three regions (Americas, EMEA and Asia-Pacific) with notable momentum in EMEA.
- Bookings this quarter spanned across more than 3,100 customers, with the majority of bookings composed of small to mid-sized multi-metro deals.
- In Q3, Equinix delivered record channel bookings, accounting for more than 30% of total bookings, with 60% of this activity going into the enterprise vertical. Interconnection growth again outpaced colocation revenues, growing 13% year-over-year on a normalized and constant currency basis, driven by solid traction across all interconnection products.
- Equinix has the most comprehensive global interconnection platform, comprising over 356,000 physical and virtual interconnections.
- In Q3, Equinix added 8,500 interconnections, more per quarter than our top 10 competitors combined.
- In the quarter, Equinix surpassed 20,000 virtual connections enabled by Equinix Cloud Exchange Fabric (ECX Fabric™), which accounted for more than 5% of total interconnections and serves more than 1,800 customers.