Equinix, a leader in digital infrastructure, has reported its 87th consecutive quarter of revenue growth, with third-quarter revenues reaching $2.2 billion, reflecting a 7% year-over-year increase. Net income rose to $297 million, or $3.10 per share, although it marked a slight decline from the previous quarter.
The company has also announced a major initiative to expand its AI infrastructure through a $15 billion joint venture with CPP Investments and GIC. This strategic partnership aims to nearly triple Equinix's xScale data center portfolio, enabling the construction of new facilities across multiple U.S. campuses to support the rising demand for AI and hyperscale workloads.
“This quarter marked a record-breaking achievement for gross bookings as well as our 87th consecutive quarter of growth,” said CEO Adaire Fox-Martin, who highlighted the robust demand for AI-enabling digital infrastructure from a broad customer base. Equinix currently has 57 major projects underway across 35 markets in 22 countries.
Based on continued demand and strong performance, the company has raised its revenue guidance for 2024, projecting annual revenues between $8.75 and $8.79 billion.
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