FX.co ★ Equinix Q1 AFFO Rises

Equinix Inc., a notable data center company, disclosed its financial report on Wednesday. It showcased that their adjusted funds from operations (AFFO) managed to amass $843 million, equating to $8.86 per share. This is an impressive increase from last year's same period, where they recorded $802 million or $8.59 per share.

In their first quarter performance, the FFO reported was $553 million, equivalent to $5.81 per share, a marginal increase compared to last year's same duration where the results were $548 million or $5.87 per share.

However, their earnings encountered a drop, falling to $231 million or $2.43 per share from the previous year's $259 million or $2.77 per share.

This decline came as a surprise to the analysts who were surveyed by Thomson Reuters, as they estimated earnings of $2.64 per share for the same period.

In contrast, the company's revenue saw a significant growth, soaring to $2.12 billion from a lesser figure of $1.9 billion the previous year.

Peering into the future, Equinix Inc. expects its AFFO to nestle between $3.29 billion and $3.37 billion and forecasts revenue to range from $8.692 billion to $8.792 billion for the fiscal year 2024. As for the second quarter, they anticipate revenue to lie between $2.148 billion and $2.168 billion.