This earnings season has been pretty positive so far for internet infrastructure. Yesterday after the market closed, Equinix added to the list of positive earnings reports with better than expected revenue and earnings. Here are their key numbers in some context:
|$ in millions
|Cash COS||162.8||169.1||174.8||174.3||184.2||Q2: Cash GM of 68-69%|
|Cash SG&A||113.2||112.4||120.5||126.9||135.4||Q2: 135-139, 2014: 530-550|
|Adjusted EBITDA||243.5||244.2||245.2||263.5||260.4||Q2: 267-273, 2014: >1105B|
|Earnings Per Share||0.71||0.58||0.72||0.88||0.81|
|Ongoing Capex||34.0||40.2||41.0||68.0||44.9||Q2: 60, 2014: 200|
|Expansion Capex||41.7||82.7||130.0||134.8||60.1||Q2: 105-115, 2014: 350-450|
They nudged full year guidance for both revenues and EBITDA a bit higher, while Q2 guidance for revenue of $594-598 was also above the composite analyst estimate of $588.
Equinix has been consistently busy expanding on multiple fronts for many years now. At the moment, lots of the new space they have under construction is in APAC, while not all much is going on in here the US. Here though it is ecosystem development they are investing resources in, with today’s Cloud Exchange announcement being the latest example.
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