Equinix shares fall on soft third-quarter forecast

July 29 (Reuters) - Equinix ‌shares fell ​3% ​on Wednesday as soft third-quarter forecast overshadowed a raised full-year and long-term outlook.

Here ‌are some details:

• For the third quarter, ⁠Equinix expects revenue of $2.53 billion to $2.58 billion, the midpoint ‌of which is below analysts' ‌estimate of $2.58 billion.

• Equinix raised its forecast for 2026 revenue to a range of $10.21 to $10.29 ​billion, from $10.14 billion to $10.24 billion.

• Equinix, which operates 281 data centres across the world, ⁠also raised its full-year adjusted funds from operations forecast to $42.69 to $43.29 ​per share from $42.31 to $43.11 per share.

• The specialised data centre operator now expects annual revenue ​growth of 10% to ‌13% through 2029, up from a prior range of 7% to 10%, and ⁠AFFO per share growth of 9% to 12% annually versus 5% to 9% earlier.

• Equinix, whose ⁠customers include Nvidia, Netflix, and Adobe, reported second-quarter revenue of $2.63 ​billion, above analysts' estimate of $2.58 billion.

• The company said customer demand remains broad-based and growing, and that it ‌is well positioned to meet the networking, cloud and AI infrastructure needs of ‌enterprises globally.

• Equinix provides organizations with secure, ⁠power-efficient space to house ‌their IT equipment ​along with connectivity solutions.

(Reporting by Nithyashree R B in Bengaluru; Editing by Shailesh ‌Kuber)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Sony makes acquisition proposal for Japan camera lens maker Tamron
• Exclusive-Intel providing chip technology to startup led by co-investor of Tan in rare deal
• US strikes $58.6 billion Patriot missile deal amid rising stockpile concerns