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Equinix (EQIX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Equinix (EQIX - Free Report) reported $2.06 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 12%. EPS of $8.19 for the same period compares to $2.30 a year ago.
The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $2.06 billion. With the consensus EPS estimate being $7.79, the EPS surprise was +5.13%.
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:
EMEA - Cabinet Equivalent Capacity: 136,200 versus the three-analyst average estimate of 135,250.
Asia-Pacific - Cabinet Equivalent Capacity: 80,400 versus the three-analyst average estimate of 80,833.
EMEA - Weighted average price per cabinet (MRR per cabinet): $1,976 versus $1,917.92 estimated by three analysts on average.
Asia - Pacific - Weighted average price per cabinet (MRR per cabinet): $2,118 versus the three-analyst average estimate of $2,124.
Geographic Revenues- EMEA: $708.71 million compared to the $695.09 million average estimate based on five analysts. The reported number represents a change of +19.8% year over year.
Geographic Revenues- Americas: $913.69 million compared to the $912.39 million average estimate based on five analysts. The reported number represents a change of +8% year over year.
Geographic Revenues- Asia-Pacific: $438.62 million compared to the $452.01 million average estimate based on five analysts. The reported number represents a change of +8.9% year over year.
Geographic Revenues- Americas- Non-recurring: $41.41 million versus $40.20 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change.
Revenue- Non-recurring revenues: $99.99 million versus the six-analyst average estimate of $101.45 million. The reported number represents a year-over-year change of +8.1%.
Revenue- Recurring revenues: $1.96 billion compared to the $1.96 billion average estimate based on six analysts. The reported number represents a change of +12.2% year over year.
Revenue- Recurring revenues- Managed infrastructure: $113.63 million versus the five-analyst average estimate of $112.75 million. The reported number represents a year-over-year change of +10.9%.
Revenue- Recurring revenues- Colocation: $1.46 billion versus $1.46 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
Shares of Equinix have returned -1% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Equinix (EQIX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Equinix (EQIX - Free Report) reported $2.06 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 12%. EPS of $8.19 for the same period compares to $2.30 a year ago.
The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $2.06 billion. With the consensus EPS estimate being $7.79, the EPS surprise was +5.13%.
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:
- EMEA - Cabinet Equivalent Capacity: 136,200 versus the three-analyst average estimate of 135,250.
- Asia-Pacific - Cabinet Equivalent Capacity: 80,400 versus the three-analyst average estimate of 80,833.
- EMEA - Weighted average price per cabinet (MRR per cabinet): $1,976 versus $1,917.92 estimated by three analysts on average.
- Asia - Pacific - Weighted average price per cabinet (MRR per cabinet): $2,118 versus the three-analyst average estimate of $2,124.
- Geographic Revenues- EMEA: $708.71 million compared to the $695.09 million average estimate based on five analysts. The reported number represents a change of +19.8% year over year.
- Geographic Revenues- Americas: $913.69 million compared to the $912.39 million average estimate based on five analysts. The reported number represents a change of +8% year over year.
- Geographic Revenues- Asia-Pacific: $438.62 million compared to the $452.01 million average estimate based on five analysts. The reported number represents a change of +8.9% year over year.
- Geographic Revenues- Americas- Non-recurring: $41.41 million versus $40.20 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.8% change.
- Revenue- Non-recurring revenues: $99.99 million versus the six-analyst average estimate of $101.45 million. The reported number represents a year-over-year change of +8.1%.
- Revenue- Recurring revenues: $1.96 billion compared to the $1.96 billion average estimate based on six analysts. The reported number represents a change of +12.2% year over year.
- Revenue- Recurring revenues- Managed infrastructure: $113.63 million versus the five-analyst average estimate of $112.75 million. The reported number represents a year-over-year change of +10.9%.
- Revenue- Recurring revenues- Colocation: $1.46 billion versus $1.46 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
View all Key Company Metrics for Equinix here>>>Shares of Equinix have returned -1% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.