U.S. Markets open in 9 hrs 21 mins
  • S&P Futures

    3,604.75
    +28.75 (+0.80%)
     
  • Dow Futures

    29,820.00
    +274.00 (+0.93%)
     
  • Nasdaq Futures

    11,970.25
    +65.00 (+0.55%)
     
  • Russell 2000 Futures

    1,838.90
    +21.80 (+1.20%)
     
  • Crude Oil

    43.49
    +0.43 (+1.00%)
     
  • Gold

    1,821.30
    -16.50 (-0.90%)
     
  • Silver

    23.41
    -0.23 (-0.96%)
     
  • EUR/USD

    1.1854
    +0.0008 (+0.0711%)
     
  • 10-Yr Bond

    0.8570
    +0.0280 (+3.38%)
     
  • Vix

    22.66
    -1.04 (-4.39%)
     
  • GBP/USD

    1.3334
    +0.0012 (+0.0907%)
     
  • USD/JPY

    104.4920
    +0.0040 (+0.0038%)
     
  • BTC-USD

    18,402.08
    +69.57 (+0.38%)
     
  • CMC Crypto 200

    370.27
    +8.85 (+2.45%)
     
  • FTSE 100

    6,333.84
    -17.61 (-0.28%)
     
  • Nikkei 225

    26,188.77
    +661.40 (+2.59%)
     

Equinix: 3Q Earnings Snapshot

·1 min read

REDWOOD CITY, Calif. (AP) _ Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The Redwood City, California-based real estate investment trust said it had funds from operations of $579.7 million, or $6.48 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $6.03 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $66.7 million, or 74 cents per share.

The data center operator, based in Redwood City, California, posted revenue of $1.52 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.5 billion.

Equinix expects full-year funds from operations in the range of $24.38 to $24.61 per share, with revenue in the range of $5.98 billion to $6 billion.

The company's shares have risen 30% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $756.07, an increase of 33% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EQIX at https://www.zacks.com/ap/EQIX