Equinix shares fall on soft third-quarter forecast

Equinix shares fall on soft third-quarter forecast July 29 : Equinix shares fell 3 per cent on Wednesday as soft third-quarter forecast overshadowed a raised full-year and long-term outlook. Here are some details: • For the third quarter, Equinix expects revenue of $2.53 billion to $2.58 billion, the midpoint of which is below analysts' estimate of $2.58 billion. • Equinix raised its forecast for 2026 revenue to a range of $10.21 to $10.29 billion, from $10.14 billion to $10.24 billion. • Equinix, which operates 281 data centres across the world, also raised its full-year adjusted funds from operations forecast to $42.69 to $43.29 per share from $42.31 to $43.11 per share. • The specialised data centre operator now expects annual revenue growth of 10 per cent to 13 per cent through 2029, up from a prior range of 7 per cent to 10 per cent, and AFFO per share growth of 9 per cent to 12 per cent annually versus 5 per cent to 9 per cent earlier. • Equinix, whose customers include Nvidia, Netflix, and Adobe, reported second-quarter revenue of $2.63 billion, above analysts' estimate of $2.58 billion. • The company said customer demand remains broad-based and growing, and that it is well positioned to meet the networking, cloud and AI infrastructure needs of enterprises globally. • Equinix provides organizations with secure, power-efficient space to house their IT equipment along with connectivity solutions.