Equinix Q1 revenue and profit miss estimates, raises 2026 outlook

Equinix

29/04/2026 21:42

Overview

Digital infrastructure provider's Q1 revenue rose 10% yr/yr but missed analyst expectations

Q1 net income increased 21% yr/yr but missed analyst estimates

Company raised full-year 2026 outlook after record gross bookings and strong AI demand

Outlook

Equinix raises 2026 revenue outlook to $10.144-$10.244 bln, up $21 mln from prior guidance

Company expects 2026 adjusted EBITDA of $5.165-$5.245 bln, up $24 mln from prior guidance

Equinix sees Q2 2026 revenue to range between $2.571 and $2.611 bln, with adjusted EBITDA of $1.349-$1.389 bln

Result Drivers

AI-RELATED DEMAND - About 60% of the company's largest deals were AI-related, supporting growth in bookings and revenue

RECURRING REVENUE GROWTH - Monthly recurring revenue grew 12% yr/yr as reported and 10% on a normalized and constant currency basis

RECORD BOOKINGS - Delivered largest first-quarter annualized gross bookings in company's history, leading to a record backlog

Company press release: ID:nPn5HFfXDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$2.44 bln
$2.52 bln (24 Analysts)
Q1 EPS
$4.20
Q1 Net Income
Miss
$415 mln
$428.95 mln (11 Analysts)
Q1 Income From Operations
Miss
$577 mln
$617.31 mln (17 Analysts)
Q1 Pretax Profit
Miss
$471 mln
$494.36 mln (16 Analysts)
Q1 Basic EPS
$4.22
Q1 Gross Profit
$1.26 bln
Q1 Operating Expenses
$681 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Equinix Inc is $1,128.00, about 4.8% above its April 28 closing price of $1,076.40

The stock recently traded at 62 times the next 12-month earnings vs. a P/E of 50 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)