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Equinix (EQIX) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Equinix (EQIX - Free Report) reported revenue of $2.02 billion, up 11.1% over the same period last year. EPS came in at $8.04, compared to $2.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.02 billion, representing a surprise of +0.09%. The company delivered an EPS surprise of +7.06%, with the consensus EPS estimate being $7.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
Geographic Revenues- Americas: $889.71 million versus the three-analyst average estimate of $911.34 million. The reported number represents a year-over-year change of +7.1%.
Geographic Revenues- Asia-Pacific: $441.94 million versus the three-analyst average estimate of $433.04 million. The reported number represents a year-over-year change of +14.2%.
Geographic Revenues- EMEA: $686.76 million compared to the $675.12 million average estimate based on three analysts. The reported number represents a change of +14.6% year over year.
Revenue- Non-recurring revenues: $100.84 million compared to the $100.60 million average estimate based on four analysts. The reported number represents a change of -8.1% year over year.
Revenue- Recurring revenues: $1.92 billion versus $1.92 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.3% change.
Revenue- Recurring revenues- Managed infrastructure: $111.63 million versus the three-analyst average estimate of $115.24 million. The reported number represents a year-over-year change of +5.6%.
Revenue- Recurring revenues- Colocation: $1.42 billion versus the three-analyst average estimate of $1.42 billion. The reported number represents a year-over-year change of +13.3%.
Revenue- Recurring revenues- Other: $34.86 million versus the three-analyst average estimate of $32.15 million. The reported number represents a year-over-year change of +17.7%.
Revenue- Recurring revenues- Interconnection: $347.04 million versus the three-analyst average estimate of $343.75 million. The reported number represents a year-over-year change of +10.1%.
Net Earnings Per Share (Diluted): $2.21 versus the five-analyst average estimate of $1.88.
Shares of Equinix have returned +2.8% over the past month versus the Zacks S&P 500 composite's +3% 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.
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Equinix (EQIX) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Equinix (EQIX - Free Report) reported revenue of $2.02 billion, up 11.1% over the same period last year. EPS came in at $8.04, compared to $2.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.02 billion, representing a surprise of +0.09%. The company delivered an EPS surprise of +7.06%, with the consensus EPS estimate being $7.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
- Geographic Revenues- Americas: $889.71 million versus the three-analyst average estimate of $911.34 million. The reported number represents a year-over-year change of +7.1%.
- Geographic Revenues- Asia-Pacific: $441.94 million versus the three-analyst average estimate of $433.04 million. The reported number represents a year-over-year change of +14.2%.
- Geographic Revenues- EMEA: $686.76 million compared to the $675.12 million average estimate based on three analysts. The reported number represents a change of +14.6% year over year.
- Revenue- Non-recurring revenues: $100.84 million compared to the $100.60 million average estimate based on four analysts. The reported number represents a change of -8.1% year over year.
- Revenue- Recurring revenues: $1.92 billion versus $1.92 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.3% change.
- Revenue- Recurring revenues- Managed infrastructure: $111.63 million versus the three-analyst average estimate of $115.24 million. The reported number represents a year-over-year change of +5.6%.
- Revenue- Recurring revenues- Colocation: $1.42 billion versus the three-analyst average estimate of $1.42 billion. The reported number represents a year-over-year change of +13.3%.
- Revenue- Recurring revenues- Other: $34.86 million versus the three-analyst average estimate of $32.15 million. The reported number represents a year-over-year change of +17.7%.
- Revenue- Recurring revenues- Interconnection: $347.04 million versus the three-analyst average estimate of $343.75 million. The reported number represents a year-over-year change of +10.1%.
- Net Earnings Per Share (Diluted): $2.21 versus the five-analyst average estimate of $1.88.
View all Key Company Metrics for Equinix here>>>Shares of Equinix have returned +2.8% over the past month versus the Zacks S&P 500 composite's +3% 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.