Equinix Reports Second-Quarter 2025 Results

Equinix, Inc., the world’s digital infrastructure company, has released its financial results for the second quarter of 2025. The company reported strong financial performance and customer momentum, indicating that its strategy and execution are effectively capturing market opportunities.

Financial Highlights

For the quarter ended June 30, 2025, Equinix reported:

• Revenues: $2.256 billion, a 4% increase over the same quarter of the previous year on an as-reported basis, or a 5% increase on a normalized and constant currency basis.
• Operating Income: $494 million, an operating margin of 22%, a 13% increase over the same quarter of the previous year.
• Net Income Attributable to Common Stockholders: $368 million, a 22% increase over the same quarter of the previous year.
• Net Income per Share: $3.75 per share, a 19% increase over the same quarter of the previous year.
• Adjusted EBITDA: $1.129 billion, an adjusted EBITDA margin of 50%, a 9% increase over the same quarter of the previous year on an as-reported basis.
• AFFO: $972 million, an 11% increase over the same quarter of the previous year.
• AFFO per Share: $9.91 per share, a 7% increase over the same quarter of the previous year.

Business and Operational Highlights

Equinix continues to build for the future to meet the growing demand from enterprises and service providers. The company currently has 59 major projects underway in 34 metros across 25 countries, including 12 xScale® projects. Notable developments include:

• Completion of the acquisition of three data centers in Manila, Philippines.
• Deployment of Hyundai Motor Group's dedicated private-cloud platform within Equinix data centers globally.
• EssilorLuxottica's choice of Equinix to enhance operational efficiency and support global expansion.
• Groq's expansion of its global data center network with Equinix, establishing its first European data center footprint in Helsinki, Finland.
• Schneider Electric's collaboration with Equinix to lower the overall carbon footprint of its digital infrastructure.
• Zetaris's collaboration with Equinix to accelerate agentic AI innovation across industries worldwide.

Strategic Initiatives and Corporate Developments

Equinix has raised its guidance across all key financial metrics for 2025, reflecting confidence in its business trajectory. The company expects:

• Revenues: $9.233 - $9.333 billion, a 6 - 7% as-reported increase over the previous year.
• Adjusted EBITDA: $4.517 - $4.597 billion, reflecting an adjusted EBITDA margin of 49%.
• AFFO: $3.703 - $3.783 billion, a 10 - 13% as-reported increase over the previous year.
• AFFO per Share: $37.67 - $38.48, an 8 - 10% as-reported increase over the previous year.
• Total Capital Expenditures: $3.792 - $4.292 billion, including non-recurring capital expenditures of $3.520 - $4.000 billion.

Management's Perspective

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

Future Outlook

For the third quarter of 2025, Equinix expects revenues to range between $2.314 and $2.334 billion, an increase of 3% at the midpoint over the previous quarter on an as-reported basis. Adjusted EBITDA is expected to range between $1.139 and $1.159 billion. Recurring capital expenditures are expected to range between $70 and $90 million.

SEC Filing: EQUINIX INC [ EQIX ] - 8-K - Jul. 30, 2025