Equinix Reports Q2 AFFO $9.91, Revenue $2.26B, CEO Adaire Fox-Martin Sees Robust Bookings and Resilient Market Position.

Equinix reported Q2 AFFO of $9.91, beating consensus of $9.19. Revenue was $2.26B, in line with expectations. CEO Adaire Fox-Martin said the company had a strong first half of 2025, achieving robust bookings and strong financial results. The company is confident in its trajectory and believes its unique market position and diverse ecosystems will continue to drive growth and returns for shareholders.

Equinix, Inc. (Nasdaq: EQIX) reported strong second-quarter (Q2) 2025 financial results, exceeding market expectations. The company's adjusted funds from operations (AFFO) reached $9.91 per share, surpassing the consensus estimate of $9.19. Revenue for the quarter amounted to $2.26 billion, in line with expectations.

Adaire Fox-Martin, CEO and President of Equinix, stated, "We had a strong first half of 2025, achieving robust bookings and strong financial results—further indication that our strategy is meeting the opportunity." She added, "Looking ahead to the next six months, we are confident in Equinix's trajectory and the strength of our distinct and resilient market position."

Equinix's revenue grew by 4% year-over-year (YoY) on an as-reported basis, or 5% on a normalized and constant currency basis. Operating income increased to $494 million, representing a 22% operating margin and a 13% increase YoY. Net income attributable to common stockholders grew by 22% YoY to $368 million, while adjusted EBITDA reached $1.129 billion, up 9% YoY.

The company's interconnection business continued to perform well, with 6,200 net interconnections added in Q2, bringing the total to over 492,000. Interconnection revenues crossed $400 million for the first time, representing a 9% YoY increase. Equinix Fabric, the company's interconnection platform, saw provisioned capacity exceed 100 terabits.

Equinix's guidance for the full year of 2025 was raised across all key financial metrics. Total revenues are now expected to range between $9.233 billion and $9.333 billion, an as-reported increase of 6-7% YoY or 7-8% on a normalized and constant currency basis. Adjusted EBITDA is expected to range between $4.517 billion and $4.597 billion, reflecting an adjusted EBITDA margin of 49%. AFFO per share is expected to range between $37.67 and $38.48, an 8-10% increase YoY.

Equinix continues to build for the future, with 59 major projects underway in 34 metros across 25 countries. The company added nine new projects since last quarter, further expanding its global footprint. High-value opportunities across its entire product set, driven by demand for AI, hybrid and multi-cloud, and networking infrastructure, are fueling the company's success.

References:
[1] https://www.equinix.com/newsroom/press-releases/2025/07/equinix-reports-second-quarter-2025-results