Equinix reported earnings today, beating Q2 guidance and raising their full year estimates for both revenue and EBITDA. Again. After all, they just did that in April. As mentioned earlier on this blog, Equinix was the first pure internet infrastructure player to report and their results could give us a glimpse of the extent to which this sector is being hurt by the economy. Well, Equinix shrugged off the macro trends without slowing down.
Now, I don’t know where their stock goes from here, their valuation is high so some outperformance was probably built in. But when you put their numbers together with AT&T’s decent results this morning, one has to feel a little less worried about the economy’s effects on the telecom sector in general. Tomorrow morning we hear from Level 3, let’s hope the streak continues.
On seeing the past performance of Equinix I am confident about its success in future.