Equinix: Performance in International Markets

Raina Brown - Author

Jan. 19 2018, Updated 10:35 a.m. ET

The Americas

Equinix (EQIX) saw solid growth in both its organic and Verizon (VZ) assets. This growth can be attributed to 87 diverse sets of assets. Equinix’s 3Q17 revenues in the Americas rose 12% quarter-over-quarter and 40% YoY (year-over-year) on an as-reported basis.

Equinix’s EBITDA[1. earnings before interest, tax, depreciation, and amortization] rose 13.0% quarter-over-quarter and 45.0% YoY. The company’s fill rate and core interconnection metrics improved quarter-over-quarter. Although EQIX locations experienced major hurricanes in Miami and Houston, these events didn’t affect these locations significantly.

As of 3Q17, EQIX operates the following IBX data centers in North America:

  • Atlanta, Georgia
  • Boston, Massachusetts
  • Chicago, Illinois
  • Culpeper, Virginia
  • Dallas, Texas
  • Denver, Colorado
  • Houston, Texas
  • Los Angeles, California
  • Miami, Florida
  • New York, New York
  • Philadelphia, Pennsylvania
  • Seattle, Washington
  • San Jose, California
  • Toronto, Ontario
  • Washington, D.C. metro area

Equinix’s locations in South America include:

  • Bogotá, Colombia
  • Rio De Janeiro, Brazil
  • São Paulo, Brazil
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Among Equinix’s key revenue drivers for EMEA (Europe, Middle East, and Africa) were record bookings led by cloud verticals as service providers. The company’s 3Q17 revenues in this region rose 5.0% quarter-over-quarter and 12.0% YoY on an as-reported basis.

Equinix’s EBITDA rose 3.0% quarter-over-quarter and 21.0% YoY. Sustained growth in campus expansions and Telecity metros for 2018 are driving growth in the EMEA markets.

In this region, EQIX operates in Bulgaria, Finland, France, Germany, Ireland, Italy, and the Netherlands. It also operates in Poland, Sweden, Switzerland, Turkey, the United Arab Emirates, and the United Kingdom.


In the Asia-Pacific region, EQIX operates in Australia, China, Hong Kong, Indonesia, Japan, and Singapore.

Record bookings with strong performance figures in Australia, Hong Kong, and Singapore, as well as exports from Chinese and Korean firms, helped Equinix’s revenues grow. The company’s 3Q17 revenues rose 3.0% quarter-over-quarter and 9% YoY on an as-reported basis. Its EBITDA increased 2.0% quarter-over-quarter and 16.0% YoY.

Among Equinix’s competitors, Digital Realty Trust (DLR) operates in Asia, Europe, and Canada. Cyrus One (CONE) operates in the US, London, and Singapore, and CoreSite Realty (COR) operates in the US.

EQIX forms ~4.2% of the iShares Core US REIT ETF (USRT).


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