Digital infrastructure company Equinix, Inc has announced its financial results for the first quarter of 2023.
The Nasdaq-listed company continued its streak of growth with a 15% increase in revenue compared to Q1 2022. The numbers came at $2 billion for the three months between January and March and only increased 7% the previous quarter.
In the first three months of 2023, Equinix reported net income of $259 million, registering a surge of 101% compared to the previous quarter. The company attributed the result higher income from operations and lower net interest expense.
Operating income for Q1 reached $384 million, registering a 36% increase compared to the second fourth quarter of last year.
Charles Meyers, President and CEO, :
We had a strong start to the year, delivering nearly $2 billion of revenue for the quarter, as our outlook remains positive with the overall demand for digital transformation fueling our conviction around the long-term secular drivers of our business.
We look forward to our upcoming analyst day next month, where we plan to continue the discussion of the significant opportunity ahead and our strongly differentiated position in capturing this opportunity as we enable our customers to access all the right places, partners and possibilities.
Earlier in January, Equinix announced the appointment of Thomas Olinger to its board of directors.
