Equinix surpasses $1bn EBITDA for Q2

Equinix has surpassed a $1 billion EBITDA in Q2 2024 for the first time, reaching $1.036bn. The company Equinix has surpassed a $1 billion EBITDA in Q2 2024 for the first time, reaching $1.036bn. Furthermore, the quarter's results saw operating income up 20 percent compared to the previous quarter to $436m 
 

Adaire Fox-Martin, CEO and president of Equinix, said: "Our strong performance in the second quarter, marked by record gross bookings, reinforces our belief that we are uniquely positioned to support our customers and partners in their business transformation agendas. As a key enabler of AI and cloud innovations on a global scale, we are excited about the opportunities that lie ahead."

Keith Taylor, Equinix CFO, said: "We continue to invest across our platform with 54 major projects currently underway in 36 markets in 24 countries, including 15 xScale scale projects. Since our last earnings call, we opened 10 projects across eight metros, including new data centers in Johor, Lusaka, Silicon Valley, and Warsaw. 2024 capex is expected to range between $2.8bn and $3.1bn, including about $240m of recurring capex."

Fox-Martin added: "But many CIOs like during the early days of cloud are looking to ensure that they have an AI strategy. We are beginning to see the beginnings of enterprise training and enterprise funnel as we look at customers, looking to evolve their strategy into proof of concept, and beyond that into working production systems," noting that the company expects to see demand in its retail data centers as well as the xScale facilities.