Reuters logo
UPDATE 1-Equinix profit beats; sees strong 3rd-qtr rev
July 25, 2012 / 8:33 PM / 5 years ago

UPDATE 1-Equinix profit beats; sees strong 3rd-qtr rev

* Q2 EPS $0.73 vs est $0.60

* Q2 rev $466.3 mln vs est $467.1 mln

* Sees Q3 rev $492 mln-$498 mln vs est $485.2 mln

* Shares rise 5 pct after market close (Adds details, Brazil expansion, share movement)

July 25 (Reuters) - Equinix Inc reported a better-than-expected second-quarter profit on higher demand for its datacenter services from telecom operators and forecast strong third-quarter revenue.

Shares of the Redwood City, California-based company, which also offers colocation services where it provides cabinets and server storage space on rent, were up 5 percent in extended trading.

Equinix, which counts BT Group Plc, AT&T Inc Apple Inc and IBM among its customers, forecast third-quarter revenue of between $492 million and $498 million.

Analysts had expected revenue of $485.2 million, according to Thomson Reuters I/B/E/S.

Separately, the company also announced it would add a new datacenter and expand another in Brazil, adding 1,520 cabinets at a cost of $34 million.

Net income for the second-quarter rose to $37.6 million, or 73 cents per share, from $30.7 million, or 64 cents per share, a year earlier.

Revenue rose 18 percent to $466.3 million.

Analysts expected second-quarter earnings of 60 cents per share on revenue of $467.1 million.

Shares of Equinix, which recently said it is giving serious thought to converting itself into a real estate investment trust , were up 4 percent in after-market trade. They closed at $161.37 on Wednesday on the Nasdaq. (Reporting by Siddharth Cavale in Bangalore; Editing by Sriraj Kalluvila)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below