Equinix (EQIX) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Equinix (EQIX) reported revenue of $2.11 billion, up 12.8% over the same period last year. EPS came in at $7.30, compared to $1.39 in the year-ago quarter.
The reported revenue represents no surprise over the Zacks Consensus Estimate of $2.11 billion. With the consensus EPS estimate being $7.25, the EPS surprise was +0.69%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Equinix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
EMEA - Cabinet Equivalent Capacity: 137,200 versus 137,500 estimated by three analysts on average.
Asia-Pacific - Cabinet Equivalent Capacity: 81,500 versus 81,417 estimated by three analysts on average.
EMEA - Weighted average price per cabinet (MRR per cabinet): $1,991 versus the three-analyst average estimate of $1,996.31.
Asia - Pacific - Weighted average price per cabinet (MRR per cabinet): $2,104 compared to the $2,164.31 average estimate based on three analysts.
Geographic Revenues- EMEA: $751.17 million versus $713.99 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24.8% change.
Geographic Revenues- Americas: $931.71 million versus the five-analyst average estimate of $934.94 million. The reported number represents a year-over-year change of +6.9%.
Geographic Revenues- Asia-Pacific: $427.61 million compared to the $458.27 million average estimate based on five analysts. The reported number represents a change of +7.6% year over year.
Geographic Revenues- Americas- Non-recurring: $38.97 million versus $42.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.
Revenue- Non-recurring revenues: $134.45 million versus the seven-analyst average estimate of $116.27 million. The reported number represents a year-over-year change of +38%.
Revenue- Recurring revenues: $1.98 billion compared to the $1.99 billion average estimate based on seven analysts. The reported number represents a change of +11.4% year over year.
Revenue- Recurring revenues- Managed infrastructure: $115.17 million compared to the $116.48 million average estimate based on six analysts. The reported number represents a change of +8.2% year over year.
Revenue- Recurring revenues- Colocation: $1.47 billion compared to the $1.48 billion average estimate based on six analysts. The reported number represents a change of +12.2% year over year.
View all Key Company Metrics for Equinix here>>>
Shares of Equinix have returned +1.7% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Equinix, Inc. (EQIX) : Free Stock Analysis Report
