Equinix Q3 FFO Beats Estimates at $11.64 Per Share; Revenue Matches Forecasts

Equinix Inc. (EQIX) reported third-quarter funds from operations of $1.16 billion, or $11.64 per share, exceeding the $10.51 per-share average estimate of seven analysts surveyed by Zacks Investment Research, the data center operator said Wednesday. The Redwood City, California-based real estate investment trust posted net income of $489 million, or $4.93 per share, and revenue of $2.57 billion, matching Wall Street forecasts. Funds from operations is a closely watched REIT metric that adds back items such as depreciation and amortization to net income. For the quarter ending in December, Equinix expects revenue of $2.68 billion to $2.72 billion. Full-year FFO is projected at $43.71 to $44.11 per share, with revenue of $10.33 billion to $10.37 billion.