Equinix reports record Q2 gross bookings

Equinix reported Q2 revenue of $1.8 billion, a 5% increase over the previous quarter and up 10% on both an as-reported and normalized and constant currency basis over the same quarter last year.

This represents the company’s 78th consecutive quarter of revenue growth —- the longest streak of any S&P 500 company, according to Equinix.

Charles Meyers, President and CEO, Equinix, states “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.”

Q2 net income was $216 million, a 47% increase over the previous quarter, primarily due to strong operating performance and a favorable tax settlement. EPS amounted to $2.37 per share, a 46% increase over the previous quarter.

Some highlights:

Equinix has 49 major projects underway across 34 metros in 21 countries, including new data center builds in Dublin, Montréal, New York, Paris, Warsaw and the company’s first build in Chennai, India.
In May, Equinix closed the acquisition of four data centers from Empresa Nacional De Telecomunicaciones S.A. (“Entel”), a leading Chilean telecommunications provider (the “Entel Chile Acquisition”), extending Platform Equinix into Chile and bringing its global footprint to 70 metros across 31 countries.
Equinix expects to close on the acquisition of one additional data center from Entel to enter Lima, Peru, in Q3.
Equinix continued to strengthen its leadership position in the cloud ecosystem through the company’s xScale program, which experienced strong leasing activity from top hyperscalers in Q2. The xScale portfolio has now leased more than 170 megawatts globally, with 11 xScale builds currently under development, of which more than 80% is pre-leased.
Equinix’s Future First sustainability strategy was recently recognized by Sustainalytics as among the best large-cap REITs for ESG. Equinix was also ranked seventh on the U.S. Environmental Protection Agency’s National Top 100 list of the largest green power users.