Equinix Reports Third-Quarter 2024 Results: Record Gross Bookings and Growth Across Regions

Summary

Equinix, Inc. reported its third-quarter 2024 financial results, highlighting record gross bookings and revenue growth of 7% on both an as-reported and normalized constant currency basis over the same quarter last year, reaching $2.2 billion. The company experienced robust pricing, strong deal conversion rates, and meaningful improvements in billable cabinets, leading to solid performance against expectations. Equinix also accelerated its pursuit of growing artificial intelligence (AI) demand in the U.S. with a greater than $15 billion joint venture, which is expected to nearly triple the capital invested in its xScale data center portfolio once completed. The company's adjusted EBITDA was $1,048 million with a margin of 48%, and net income attributable to common stockholders was $297 million. Comprehensive income, net of tax, was $554 million. A press release with detailed financial information is furnished as Exhibit 99.1 to this report.