EQIX Stock Recent News

Equinix (EQIX) posts stellar Q2 results, backed by strong demand for its colocation and interconnection services.

Equinix, Inc. (NASDAQ:EQIX ) Q2 2024 Earnings Conference Call August 7, 2024 5:30 PM ET Company Participants Chip Newcom - Senior Director of IR Adaire Fox-Martin - CEO and President Keith Taylor - CFO Conference Call Participants Simon Flannery - Morgan Stanley Nick Del Deo - MoffettNathanson David Barden - Bank of America James Schneider - Goldman Sachs Michael Elias - TD Cowen Michael Rollins - Citi Operator Good afternoon, and welcome to the Equinix Second Quarter Earnings Conference Call [Operator Instructions]. I would now like to turn the call over to Chip Newcom, Senior Director of Investor Relations.

Although the revenue and EPS for Equinix (EQIX) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Equinix raised its annual adjusted core earnings forecast on Wednesday, betting on strong demand for its data center operation services amid growing adoption of generative artificial intelligence technology.

REDWOOD CITY, Calif. , Aug. 7, 2024 /PRNewswire/ --  Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today announced that its Board of Directors has declared a quarterly cash dividend of $4.26 per share on its common stock.

REDWOOD CITY, Calif. , Aug. 7, 2024 /PRNewswire/ -- Quarterly revenues increased 7% over the same quarter last year to $2.2 billion, or 8% on a normalized and constant currency basis Net income increased 45% year-over-year to $301 million and adjusted EBITDA surpassed the $1 billion quarterly threshold for the first time Closed first multi-hundred-megawatt xScale campus in Atlanta; continue to augment and extend xScale portfolio to support cloud and AI training workload demands Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today reported results for the quarter ended June 30, 2024.

Equinix's (EQIX) Q2 earnings are likely to have benefited from the robust demand for data centers and expansionary efforts. However, higher interest expenses may have hurt it.

Equinix has been one of the best performing REITs over the last few years, despite the Federal Reserve's hawkish policy. There is a lot to like: EQIX provides an essential digital service, it has a great track record and enjoys a clear tailwind. Unfortunately, the stock seems way too expensive for my taste and I think other REITs might offer better value at the moment.

Equinix (EQIX) reachead $771.90 at the closing of the latest trading day, reflecting a +0.34% change compared to its last close.

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Equinix (EQIX) have what it takes?