Equinix Q2 FY2026: revenue up 16.0%, EPS up 28.8%, guidance raised
Equinix beat on both lines and raised full-year and long-term guidance: revenue rose 16.0% to $2.625 billion and GAAP EPS came in at $4.83 against a $4.8161 consensus. The catch is that $248 million of revenue was non-recurring, up from $113 million, so read the recurring line - $2.377 billion, up 10.9% - as the real trend. View: Bullish.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $4.83 edged past the $4.8161 consensus and rose 28.8% from $3.75 a year ago, helped by operating income of $665 million, up 35%. For a REIT, AFFO per share matters more than GAAP EPS, and it hit $11.78, up 18.9% from $9.91. Both numbers point the same way: profits grew faster than revenue.
Revenue came in at $2.625 billion, up 16.0% from $2.256 billion a year earlier and 7.4% above last quarter's $2.444 billion. Be careful with that 16.0%: non-recurring revenue nearly doubled to $248 million from $113 million, and management attributes the quarter to one-time xScale fees, while recurring revenue of $2.377 billion grew 10.9%. Gross margin improved to 53.1% from 52.0% a year ago.
Q3 revenue is guided to $2.525-$2.575 billion, or 9-11% growth, and full-year 2026 revenue to $10.205-$10.285 billion, up 11-12%. That full-year range was lifted by $100 million before a $49 million currency drag, and AFFO per share guidance was raised to $42.69-$43.29. Management also lifted its 2027-2029 outlook to 10-13% annual revenue growth from 7-10%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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