Equinix raises annual revenue forecast, shares fall on downbeat quarterly revenue
29/04/2026 22:50
April 29 - Data center firm Equinix EQIX.O raised its full-year revenue forecast and projected second-quarter revenue above Wall Street estimates on Wednesday, as enterprise customers invest in AI solutions. Shares of the California-based company, however, fell over 3% in extended trading, as it reported first-quarter revenue below expectations. Equinix provides organizations with secure, resilient and power-efficient environments to house their IT equipment within its data centers, while offering shared infrastructure and connectivity solutions. The company now sees fiscal 2026 revenue between $10.14 billion and $10.24 billion, compared to its earlier projection of $10.12 billion to $10.22 billion. It expects second-quarter revenue to range between $2.57 billion and $2.61 billion, above analysts' average estimate of $2.52 billion, according to data compiled by LSEG. For the first quarter ended March 31, Equinix reported revenue of $2.44 billion, missing an estimate of $2.52 billion. Adjusted funds from operations, a key cash flow metric, came in at $10.79 per share in the first quarter, also missing estimates of $10.88 per share. In February, Equinix and Canada Pension Plan Investment Board announced plans to acquire Nordic data center operator atNorth from private equity firm Partners Group in a deal valued at about $4 billion. (Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid) ((Juby.Babu@thomsonreuters.com))