Equinix reports 39% rise in net income for 2019
Net income for 2019 was $507 million, a 39% increase over the previous year.
Global interconnection and data center company Equinix Inc (NASDAQ:EQIX) has posted a set of solid results for 2019, with revenues and income staging a rise from the preceding year.
- Revenues for full year 2019 amounted to $5.562 billion, up 10% over the previous year. In normalized and constant currency terms, the increase was 9%.
- Operating income totalled $1.170 billion in 2019, which is 20% higher than a year earlier, The operating margin was 21%.
- Adjusted EBITDA for 2019 were $2.688 billion, with adjusted EBITDA margin being 48%.
- Equinix reported net income of $507 million for 2019, up 39% over the previous year.
Interconnection revenues grew 13% year-over-year on an as-reported basis and 14% on a normalized and constant currency basis, driven by strong customer response to Equinix Cloud Exchange Fabric (ECX Fabric), good traction in new internet exchange markets, and solid interconnection net adds.
In the final quarter of 2019, Equinix added an incremental 7,400 interconnections, fueled by high gross adds from new streaming services, expanding inter-metro connections, and seasonably lower churn. Peak internet exchange traffic grew by 10% this quarter, helped by new OTT video offerings.
Equinix achieved its second best gross and net bookings in the fourth quarter with strong performance across all three regions (Americas, EMEA and Asia-Pacific) and notable momentum in Asia-Pacific. In 2019, Equinix closed over 17,000 deals, demonstrating the significant scale of the company’s go-to-market engine and the differentiated nature of the Equinix value proposition.
In the fourth quarter of 2019, the financial services vertical achieved its third highest bookings led by capital markets providers and multinational financials as cloud adoption accelerates.
In terms of global presence, Equinix continued to expand the reach of its platform and currently operates across 55 metros in 26 countries including the recently completed acquisition of three Axtel data centers that serve two new strategic technology metros in Mexico. And, the company plans to build out new markets in Hamburg and Muscat this year.
