Recession, recovery, whatever, it doesn’t seem to matter much when eqix reports. This quarter [1] includes two months of data from the Switch & Data acquisition, which boosts the numbers of course. Revenues of $296.1 met guidance and expectations, even beating Paolo’s projections [2] by a hair. Adjusted EBITDA of $132.2M and earnings per share of $0.21 were a bit higher and lower, respectively, than forecast. As for the Switch & Data acquisition, the integration is reported to be going well and is ahead of schedule.
Guidance for the second quarter was for revenues of $335-338M and EBITDA of $136-139M, which of course reflect a full quarter of the Switch & Data revenue. For the full year, Equinix tightened its revenue guidance to $1.225B to $1.235B and raised its adjusted EBITDA guidance to $535-540M. That’s about as tight as guidance gets I’d say.
On the expansion front, Equinix opened its $80M DC6 facility [3], adding 1,750 cabinets to the company’s extensive footprint in the Washington DC area. And Equinix also announced plans to expand its SG2 facility [4] in Singapore, adding another 850 cabinets in what will be Phase 3 of the buildout. Phase 2 itself is just being completed this year, scheduled for September. Phase 3 will then be complete next summer.