Equinix, the global interconnection and data center company, posted a net profit of $143.5m, up from $67.6m a year earlier as the revenue grew from $1.26bn to $1.38bn compared with the same quarter last year, as the company reported results for the quarter ended June 30, 2019.
The company reported the colocation business brought in the majority of that revenue, at $1bn, while the interconnection business grew to $219m. Equinix expects revenue for quarter 3 on the similar lines and for the full year of 2019, company’s revenues are expected to range between $5.565 and $5.595 billion, a 10% increase over the previous year.
Charles Meyers, President and CEO, Equinix said “Equinix had another strong quarter, as it continues to deliver distinctive and durable value for customers pursuing their digital transformation initiatives. As a variety of trends are making global businesses think differently about their infrastructure, Equinix is responding by both investing across its traditional strengths and layering in incremental capabilities that make it an easier-to-use, more accessible global platform. We see a large and expanding market opportunity, and we believe Equinix is uniquely positioned to capture this opportunity as customers prioritize digital transformation and adopt hybrid and multicloud as their architecture of choice.”
