Digital infrastructure company Equinix, Inc has announced its financial results for the first quarter of 2022. The company reported strong growth across different segments of its business for the first three months of the year.
From January to March, Equinix saw quarterly revenue of $1.7 billion, a 9% rise from the same period last year. Operating revenue went up 7% compared to the previous quarter to $267 million. Net income in Q1 stood at $147 million, making a 20% QoQ increase.
Charles Meyers, the President and CEO of Equinix, said:
Charles Meyers
We had a great start to 2022. While there are a number of macroeconomic factors we continue to proactively manage, the business continues to perform exceptionally well. The underlying demand for digital infrastructure continues to rise as enterprises in diverse sectors across the globe prioritize digital transformation and service providers continue to innovate, distribute and scale their infrastructure globally in response to that demand.
Equinix saw strong increases in revenue amid a jump in demand of its services. In 2022, the digital infrastructure company expanded its global presence in Munich, Chile and Peru and acquired West African data center and connectivity solutions provider MainOne.
The company stated that for the second quarter of 2022, it expects 4-5% increase compared to Q1. Equinix also expects strong growth in revenues and EBITA for the full year.
Additionally, the company plans to further expands its footprint in the near future.
The company said:
For the full year of 2022, total revenues are expected to range between $7.291 and $7.341 billion, a 10 – 11% increase over the previous year, or a normalized and constant currency increase of approximately 10%. This updated increase in full-year guidance of $89 million includes $42 million of better-than-expected business performance, $50 million from the MainOne acquisition, and a negative $3 million foreign currency impact when compared to the prior guidance rates.
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