Yahoo Finance Equinix (EQIX) Reports Q2 Earnings: What Key Metrics Have to Say
Equinix (EQIX) reported $2.16 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 7%. EPS of $9.22 for the same period compares to $2.21 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.16 billion, representing a surprise of +0.10%. The company delivered an EPS surprise of +4.54%, with the consensus EPS estimate being $8.82.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Equinix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
EMEA - Cabinet Equivalent Capacity
: 134,100 versus 141,283 estimated by three analysts on average.
Asia-Pacific - Cabinet Equivalent Capacity
: 80,500 versus the three-analyst average estimate of 84,958.
EMEA - Weighted average price per cabinet (MRR per cabinet)
: $1,890 compared to the $2,121.10 average estimate based on three analysts.
Asia - Pacific - Weighted average price per cabinet (MRR per cabinet)
: $2,108 compared to the $2,190.17 average estimate based on three analysts.
Geographic Revenues- EMEA
: $721 million versus the five-analyst average estimate of $743.59 million. The reported number represents a year-over-year change of +5%.
Geographic Revenues- Americas
: $966 million versus $949.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8.6% change.
Geographic Revenues- Asia-Pacific
: $472 million versus $463.80 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.
Geographic Revenues- Americas- Non-recurring
: $50 million versus $45.35 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +37.9% change.
Revenue- Non-recurring revenues
: $135 million versus $115.58 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +33.9% change.
Revenue- Recurring revenues
: $2.02 billion versus $2.04 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +5.6% change.
Revenue- Recurring revenues- Managed infrastructure
: $116 million versus $120.49 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
Revenue- Recurring revenues- Colocation
: $1.50 billion versus the five-analyst average estimate of $1.50 billion. The reported number represents a year-over-year change of +5.3%.
View all Key Company Metrics for Equinix here>>>
Shares of Equinix have returned +2.3% over the past month versus the Zacks S&P 500 composite's -5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Equinix, Inc. (EQIX) : Free Stock Analysis Report
