Equinix Reports 7% Increase in Quarterly Revenues and Closes First xScale Campus in Atlanta
Equinix, Inc., a global digital infrastructure company, reported its second quarter results for 2024 on August 7, 2024. The company saw a 7% increase in quarterly revenues over the same quarter last year, reaching $2.2 billion. Net income also increased by 45% year-over-year to $301 million, and adjusted EBITDA surpassed the $1 billion quarterly threshold for the first time. The company also announced the closure of its first multi-hundred-megawatt xScale campus in Atlanta to support cloud and AI training workload demands. For 2024, Equinix expects revenues to be between $8.692 billion and $8.772 billion, an increase of 6-7% over the previous year. The company also anticipates an adjusted EBITDA of $4.066 - $4.126 billion and an AFFO of $3.310 - $3.370 billion.