Equinix reported Q2 revenue of $172.0 million, a 9% increase over the previous quarter and an 87% increase over the same quarter last year. Net income for the second quarter was $2.2 million compared to net income of $5.4 million in the previous quarter and net income of $1.2 million in the same quarter last year. This reflects a negative $3.0 million quarter-over-quarter fluctuation related to foreign exchange, and a specific $3.1 million increase in stock-based compensation expense related to the executive change in our European operations.
During the quarter, Equinix completed on-schedule expansions in the London, Paris, Silicon Valley and Washington D.C. markets, adding approximately 2,750 cabinet equivalents in the U.S., and 2,600 cabinet equivalents in Europe.
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