Equinix Posts 11% Rise in 2021 Revenue

Equinix (Nasdaq: EQIX), a major data infrastructure provider in the financial services industry, released its financials for the fourth quarter of 2021, reporting a revenue of $1.7 billion. It was a yearly increase of around 6.25 percent, making it the 76 consecutive quarter to see growth.

However, the quarterly net income decreased by 19 percent to $123 million. The adjusted earnings per share came in at $1.36, compared to $1.68 in the same quarter of the previous year.

Additionally, the numbers for the entire year improved significantly. The company reported $6.636 billion as its yearly revenue which saw an increase of 11 percent. On a normalized and constant currency basis, this jump was 8 percent.

Moreover, operating income jumped by 5 percent to $1.1 billion with a margin of 17 percent. It mostly benefited from the strong operating performance and lower acquisition cost.

The adjusted EBITDA came in 47 percent higher at $3.14 billion. The overall net income for the year was $500 million, which was 35 percent higher than the previous year and mostly due to lower interest expense and debt extinguishment costs related to balance sheet refinancing initiatives. In addition, the adjusted earnings per share climbed 32 percent to $5.53.

“Businesses globally continue to prioritize digital transformation as a foundational source of competitive advantage,” said Charles Meyers, the President and CEO at Equinix.

“Equinix also made significant progress in scaling and transforming our data center business and in accelerating our digital services portfolio to deliver on the promise of physical infrastructure at software speed.”

Indeed, the company expanded its presence heavily on the global map with new partnerships and data centers. Furthermore. it entered the African market with the acquisition of MainOne for $350 million.

Strong Outlook

Now, the data infrastructure company is bullish with its 2022 outlook. It is expecting to generate yearly revenue of between $7.202 billion and $7.252 billion, with the adjusted EBITDA between $3.307 billion and $3.337 billion.

Meyers added: “As we enter 2022, the underlying performance of our business is exceptionally strong, and we remain well-positioned to deliver against our long-term targets and strengthen our position as the world's digital infrastructure company.”