- Equinix (NASDAQ:EQIX) is off 2% in choppy trading after hours in the wake of posting Q3 results where revenues and FFO grew solidly though EPS fell short of consensus.
- Adjusted FFO was up to $210.4M, but net income came to $0.71/share vs. an expected $1.11. Revenues were up 10.7% Y/Y and up 3% sequentially. Recurring revenues (co-location, interconnection, managed services) were up 10% Y/Y to $646.7M.
- Gross margins were 53% compared to a year-ago 51%.
- The company also announced a deal with Oracle (ORCL) to bring Oracle's Cloud services to six global markets via the Equinix Cloud Exchange: Amsterdam, Chicago, London, Singapore, Sydney and Washington, D.C. Cloud is the fastest-growing part of Oracle's business, supporting 62M users and 23B transactions a day.
- Equinix is guiding to Q4 revenues of $701M-$705M vs. consensus of $701M. It expects Q4 EBITDA of $328M-$332M vs. an expected $327M. It sees full-year 2015 revenues of $2.696B-$2.7B, above consensus of $2.693B, and EBITDA of $1.267B-$1.271B, above an expected $1.26B.
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Conference call to come at 5:30 p.m. ET.
- Press Release