{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1259159457", "close" : "1259182857", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

Equinix 3Q profit more than triples as sales grow

Equinix 3rd-quarter profit more than triples, driven by solid demand

  • On 5:52 pm EDT, Wednesday October 21, 2009

FOSTER CITY, Calif. (AP) -- Data center service provider Equinix Inc. said Wednesday its third-quarter profit more than tripled as revenue grew thanks to solid demand.

The company earned $18.8 million, or 47 cents per share, up from a profit of $5.6 million, or 15 cents per share, in the same period a year earlier.

Revenue rose 24 percent to $227.6 million from $183.7 million.

Analysts, on average, were expecting a profit of 30 cents per share on sales of $224.1 million, according to a poll by Thomson Reuters.

For the full year, Equinix forecast sales of $875 million to $880 million. Analysts are expecting $872 million.

Separately, the company also agreed to buy Switch & Data Facilities Co. in a cash and stock deal worth about $689 million.

Shares fell $5.75, or 5.9 percent, to $93 in after-hours trading. The stock had closed down 44 cents at $97.75.

Top Stories

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.