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Equinix: 1Q24 Results

REAL ESTATE

Equinix (EQIX: Baa2 / BBB / BBB+): 1Q24 Results


Results were in-line with Revenue $2,127m and Adj EBITDA 992m

  • Net Debt $13.3bn ; ND/EBITDA 3.6x
  • Asian revenue grew 8.7% yoy and is now 22% of total

The company is guiding for 1-2% growth in Q2. They have had 85 consecutive quarters of growth. The CEO, Charles Meyers, will be replaced by Adaire Fox-Martin in late Q2. Equinix have stated that the Audit Committee’s independent investigation reported that EQIX’s accounts were accurate and appropriate.

Earnings call 5:30 PM EDT {https://event.choruscall.com/mediaframe/webcast.html?webcastid=wxa6vhEZ}

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