Equinix Q3 Profit Rises

(RTTNews) - Equinix, Inc. (EQIX) Wednesday reported third-quarter net income that increased from last year as revenues increased 12%.

Net income for the quarter was $275.8 million or $2.93 per share, up from $211.8 million or $2.30 per share last year.

Revenues for the quarter rose 12% to $2.06 billion from $1.84 billion last year.

Analysts polled by Thomson Reuters expected earnings of $2.16 per share and revenues of $2.06 billion.

Funds from operations for the quarter was $562.1 million or $5.97 per share, compared to $488.4 million or $5.30 per share last year. Adjusted funds from operations for the quarter was $771.6 million or $8.19 per share, compared to $712.0 million or $7.73 per share last year.

Looking forward to full year 2023, the company expects adjusted FFO per share of $31.87 to $32.19 and revenues of $8.166 billion to $8.206 billion.

For the fourth quarter, the company expects revenues to be between $2.088 billion and $2.128 billion.