Equinix Reports Strong Q2 Performance and Raises Outlook Amid Rising AI Demand
Equinix reported strong financial results for its second quarter, with recurring revenue growing by 11% year over year. The company raised both its full-year and long-term outlooks due to robust performance in bookings, which increased 23% to $424 million, and record interconnection additions of 9,700. Management highlighted the acceleration of data center capacity expansion driven by AI infrastructure demand from enterprise customers. The company is delivering over 7,000 cabinets ahead of schedule as part of its broader strategy across 52 major projects in 33 markets. CFO Olivier Leonetti noted that adjusted EBITDA margin expanded to 53%, and AFFO per share increased 18%. Equinix expects annual revenue growth between 10-13% through 2029, with a target of 9-12% for AFFO-per-share. The company also anticipates capital expenditures in the range of $5 billion to $6 billion this year.
Tickers: $EQIX
Topics: AI infrastructure data centers interconnection demand revenue growth