Jun 2026 (Q2 FY26) — Jul 29, 2026
Equinix Q2 FY26 — Record Bookings and Significant Guidance Raise
Read the full callEquinix (EQIX) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Equinix earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,625 | +16.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 25.3 | +3.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 479 | +30.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
19 of 20 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Hampton xScale campus lease signing | lease signed in Q4 2025 for half the Hampton campus (2 of 4 buildings, ~120 MW of 240 MW) | Sep 2025 | we closed 134 megawatts of xScale leases, including Hampton, which contributed approximately $120 million in nonrecurring fees | Achieved* |
| Full-year AFFO growth | 9% to 11% growth over the previous year | Dec 2025 | We're raising AFFO guidance by approximately $50 million | Revised Up |
| Full-year adjusted EBITDA margin | approximately 51%, a 200 basis point improvement over 2025 | Dec 2025 | We are raising adjusted EBITDA guidance by $62 million resulting in an adjusted EBITDA margin of approximately 51%, a 200 basis point improvement over last year | On Track |
1 of EQUINIX INC's 54 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 51 more targets are in the full ledger.
Claimed
- Monthly recurring revenue (MRR) growth accelerated to 11% year-over-year on a normalized and constant currency basis.
- Annualized gross bookings grew 23%, reaching $424 million, the second highest volume on record.
- Added a record 9,700 net interconnections.
- AFFO per share grew 18% year-over-year on a normalized and constant currency basis.
- Full-year 2026 revenue guidance raised to 11-12% growth, and AFFO per share growth to 10-12%.
Qualified
- Churn was 1.8% in Q2 FY26, primarily due to renewal process execution and some delayed churn, though expected to be near the lower end of the typical 2% to 2.5% range for the back half of the year.
Price
$975.71 −1.04% · −$10.27
Performance +19.9% 1Y
1Y: $813.93 on 17 Oct 2025 → $975.71. High $1,115.94 (22 Jun 2026), low $726.09 (4 Dec 2025).
- Previous close
- $985.98
- 52-week range
- $726.09 – $1,115.94
- One year
- +18.25%
Overview
- Symbol
- EQIX
- Sector
- Real Estate
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
19 of 20 judged targets kept · 34 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Hampton xScale campus lease signing | lease signed in Q4 2025 for half the Hampton campus (2 of 4 buildings, ~120 MW of 240 MW) | Sep 2025 | we closed 134 megawatts of xScale leases, including Hampton, which contributed approximately $120 million in nonrecurring fees | Achieved* |
| Full-year AFFO growth | 9% to 11% growth over the previous year | Dec 2025 | We're raising AFFO guidance by approximately $50 million | Revised Up |
| Full-year adjusted EBITDA margin | approximately 51%, a 200 basis point improvement over 2025 | Dec 2025 | We are raising adjusted EBITDA guidance by $62 million resulting in an adjusted EBITDA margin of approximately 51%, a 200 basis point improvement over last year | On Track |
Claimed
- Monthly recurring revenue (MRR) growth accelerated to 11% year-over-year on a normalized and constant currency basis.
- Annualized gross bookings grew 23%, reaching $424 million, the second highest volume on record.
- Added a record 9,700 net interconnections.
- AFFO per share grew 18% year-over-year on a normalized and constant currency basis.
- Full-year 2026 revenue guidance raised to 11-12% growth, and AFFO per share growth to 10-12%.
Qualified
- Churn was 1.8% in Q2 FY26, primarily due to renewal process execution and some delayed churn, though expected to be near the lower end of the typical 2% to 2.5% range for the back half of the year.
The full ledger
Open EQUINIX INC’s full ledger
A free account opens 5 company ledgers a month. All 54 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Equinix Q1 FY26 — Record sales activity as AI inferencing demand drives second straight quarter of double-digit MRR growth
Read the full callDec 2025 (Q4 FY25) — Feb 11, 2026
Equinix Q4 FY25 — Record Bookings and Strong AI-Driven Demand
Read the full callEvery analysed call
Equinix earnings calls (EQIX)
Financials
What the filings say
Net profit, year on year: +30% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,201 | 2,261 | 2,225 | 2,256 | 2,316 | 2,420 | 2,444 | 2,625 |
| Expenses | 1,776 | 2,158 | 1,767 | 1,762 | 1,842 | 1,998 | 1,867 | 1,960 |
| Operating profit | 425 | 103 | 458 | 494 | 474 | 422 | 577 | 665 |
| Operating margin | 19.3% | 4.6% | 20.6% | 21.9% | 20.5% | 17.4% | 23.6% | 25.3% |
| Interest | 117 | 126 | 122 | 135 | 128 | 142 | 148 | 151 |
| Profit before tax | 350 | 0 | 392 | 405 | 399 | 312 | 471 | 523 |
| Tax rate | 15.4% | — | 12.5% | 9.4% | 6.3% | 15.4% | 11.9% | 8.8% |
| Net profit | 297 | -14 | 343 | 368 | 374 | 265 | 415 | 479 |
| EPS ($ per share) | 3.11 | — | 3.52 | 3.76 | 3.82 | — | 4.22 | 4.86 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 890 | 1,391 | 1,760 | 2,260 | 2,965 | 3,934 | 4,749 | 6,099 |
| Total liabilities | 13,025 | 15,125 | 16,373 | 17,037 | 18,805 | 20,137 | 21,533 | 25,963 |
| Fixed assets | 11,026 | 12,153 | 14,503 | 15,446 | 16,650 | 18,601 | 19,249 | 23,584 |
| Investments | 5 | 10 | 5 | 0 | — | 0 | 527 | 1,500 |
| Total assets | 20,245 | 23,966 | 27,007 | 27,919 | 30,311 | 32,651 | 35,085 | 40,141 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,815 | 1,993 | 2,310 | 2,547 | 2,963 | 3,217 | 3,249 | 3,911 |
| Cash from investing | -3,076 | -1,945 | -3,427 | -3,007 | -3,363 | -3,224 | -3,937 | -6,484 |
| Cash from financing | 471 | 1,202 | 816 | 414 | 857 | 211 | 1,723 | 1,272 |
| Net cash flow | -823 | 1,259 | -261 | -76 | 359 | 188 | 986 | -1,258 |
| Capital expenditure | -4,375 | -4,328 | -4,765 | -5,705 | -4,804 | -5,946 | -6,469 | -9,616 |
| Free cash flow | -2,559 | -2,335 | -2,455 | -3,158 | -1,841 | -2,729 | -3,220 | -5,705 |
EQIX revenue by segment
Americas grew from 44% to 48% of revenue over the last two years.
| Segment | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Americas | 44% | 45% | 44% | 44% | 45% | 45% | 45% | 48% | +24.6% |
| EMEA | 34% | 33% | 34% | 34% | 34% | 34% | 34% | 32% | +10.2% |
| Asia Pacific | 22% | 22% | 23% | 21% | 22% | 21% | 22% | 20% | +9.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
EQIX operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Interconnections | 482K+We now have more than 482,000 total interconnections deployed on our industry-leading platform.Source: earnings call transcript | 486K+Interconnection revenues grew a healthy 9% year-over-year on a normalized and constant currency basis with more than 486,000 total interconnections now deployed.Source: earnings call transcript | 499K+We added 7,100 net physical and virtual connections in Q3, bringing our total to more than 499,000.Source: earnings call transcript | 500K+We also crossed an extraordinary milestone in Q4, surpassing 0.5 million interconnections worldwide.Source: earnings call transcript | 500K+This is a structural competitive advantage given the more than 500,000 live interconnections across our ecosystem.Source: earnings call transcript | — | — |
| Net interconnection additions | 6,000We added an incremental 6,000 underlying interconnections in Q4.Source: earnings call transcript | 3,900And finally, we had strong seasonal gross interconnection additions, resulting in a healthy net 3,900 total interconnections added in Q1.Source: earnings call transcript | 7,100We added 7,100 net physical and virtual connections in Q3, bringing our total to more than 499,000.Source: earnings call transcript | 7,800We added 7,800 net interconnections in the quarter, including our adjustments.Source: earnings call transcript | 5,800We increased physical and virtual net interconnections by 5,800 with particular strength in fabric additions.Source: earnings call transcript | 9,700We added 9,700 net interconnections, our most ever and AFFO per share grew 18% on a normalized and constant currency basis.Source: earnings call transcript | +67.2% |
| MRR churn rate | 2.5%Global Q4 MRR churn was 2.5%, as planned, due to the previously discussed deferral of MRR churn from late September into early October.Source: earnings call transcript | 2.4%Global Q1 MRR churn was 2.4%, as expected.Source: earnings call transcript | — | — | 1.7%Churn came at 1.7%, primarily due to the benefit of some delayed churn and through focus and execution during our renewal process.Source: earnings call transcript | 1.8%Churn was 1.8% primarily due to our renewal process execution and some delayed churn.Source: earnings call transcript | +0.1 pt |
| Capital expenditures Recurring | $115MFor the quarter, capital expenditures were approximately $1 billion, including seasonally higher recurring CapEx of $115 million as planned.Source: earnings call transcript | $26MCapital expenditures were $750 million, including seasonally lower recurring CapEx of $26 million as expected.Source: earnings call transcript | $64MCapital expenditures were approximately $1.14 billion, including a recurring CapEx of $64 million.Source: earnings call transcript | — | — | — | +146.2% |
| Properties Stabilized assets | 177Our now 177 stabilized assets increased revenues by 3% year-over-year on both an as-reported and constant currency basis.Source: earnings call transcript | 190Our now 190 stabilized assets increased recurring revenues by 3% year-over-year on a constant currency basis and are collectively 82% utilized and generated a 26% cash-on-cash return on the gross PP&E invested.Source: earnings call transcript | 188Our now 188 stabilized assets increased revenues by 4% year-over-year on a constant currency basis and are collectively 82% utilized and generate a 26% cash-on-cash return on the gross PP&E invested.Source: earnings call transcript | 187Related to our now 187 stabilized assets, revenues increased by 6% year-over-year on a constant currency basis.Source: earnings call transcript | 192Our 192 stabilized assets increased recurring revenue by 6% year-over-year, are collectively 82% utilized and generated a 26% cash-on-cash return on growth PP&ESource: earnings call transcript | 194Our 194 stabilized assets are collectively 82% utilized and generated a 27% cash-on-cash yields on gross PP&E We continue to achieve these outsized returns on assets we have delivered in recent years.Source: earnings call transcript | +1% |
| Occupancy rate Stabilized assets | 83%Stabilized assets were collectively 83% utilized and generated a 27% cash-on-cash return on the gross PP&E invested.Source: earnings call transcript | 82%Our now 190 stabilized assets increased recurring revenues by 3% year-over-year on a constant currency basis and are collectively 82% utilized and generated a 26% cash-on-cash return on the gross PP&E invested.Source: earnings call transcript | 82%Our now 188 stabilized assets increased revenues by 4% year-over-year on a constant currency basis and are collectively 82% utilized and generate a 26% cash-on-cash return on the gross PP&E invested.Source: earnings call transcript | 82%These stabilized assets are collectively 82% utilized and generated a 27% cash-on-cash return on the gross PP&E invested on a constant currency basis.Source: earnings call transcript | 82%Our 192 stabilized assets increased recurring revenue by 6% year-over-year, are collectively 82% utilized and generated a 26% cash-on-cash return on growth PP&ESource: earnings call transcript | 82%Our 194 stabilized assets are collectively 82% utilized and generated a 27% cash-on-cash yields on gross PP&E We continue to achieve these outsized returns on assets we have delivered in recent years.Source: earnings call transcript | 0 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 42% ↑ 5 pt
As EQIX cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
457 filings between Nov 3, 2025 and Sep 4, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$61.23M
383 sales by 10 insiders
91% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 72
- Option exercise — converted options into shares
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Meyers Charles J | — | $15.73M | May 6, 2026 |
| Fox-Martin Adaire | — | $12.36M | Jun 2, 2026 |
| MORANDI BRANDI GALVIN | — | $8.25M | Jun 8, 2026 |
| TAYLOR KEITH D | — | $6.56M | Mar 12, 2026 |
| Abdel Raouf | — | $6.27M | Jun 2, 2026 |
| PAISLEY CHRISTOPHER B | — | $4.48M | Aug 18, 2026 |
| Lin Jonathan | — | $2.63M | Jun 2, 2026 |
| Pletcher Kurt | — | $2.54M | Aug 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 4, 2026 | Paladin Michael Shane Chief Customer & Rev Officer | Sale | 307 | $317.7K |
| Sep 2, 2026 | Paladin Michael Shane Chief Customer & Rev Officer | Sale 10b5-1 plan | 53 | $53.4K |
| Sep 2, 2026 | Paladin Michael Shane Chief Customer & Rev Officer | Sale 10b5-1 plan | 150 | $152.8K |
| Sep 1, 2026 | Paladin Michael Shane Chief Customer & Rev Officer | Option exercise 10b5-1 plan | 510 | $0 |
| Aug 20, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 135 | $145.2K |
| Aug 18, 2026 | PAISLEY CHRISTOPHER B Director | Sale 10b5-1 plan | 125 | $137.9K |
| Aug 3, 2026 | PAISLEY CHRISTOPHER B Director | Sale | 4,000 | $4.08M |
| Jun 8, 2026 | MORANDI BRANDI GALVIN Chief People Officer | Sale 10b5-1 plan | 3,726 | $4.01M |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 10 | $10.6K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 11 | $11.7K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 400 | $423.0K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 295 | $313.0K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 600 | $636.9K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 9 | $9.5K |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 4 | $4.2K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 285 | $300.7K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 11 | $11.7K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 15 | $15.8K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 120 | $126.4K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 19 | $20.1K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 13 | $13.8K |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 315 | $332.7K |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 4 | $4.2K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 13 | $13.8K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 2 | $2.1K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 3 | $3.2K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 31 | $33.1K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 1 | $535 |
| Jun 2, 2026 | Fox-Martin Adaire CEO and President | Sale 10b5-1 plan | 120 | $126.3K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 1 | $525 |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 5 | $5.3K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 18 | $19.3K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 12 | $12.6K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 14 | $15.0K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 5 | $5.3K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 8 | $8.5K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 13 | $13.8K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 15 | $15.4K |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 9 | $9.5K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 12 | $13.0K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 2 | $2.1K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 3 | $3.2K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 29 | $31.0K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 1 | $535 |
| Jun 2, 2026 | Abdel Raouf EVP, Global Operations | Sale 10b5-1 plan | 15 | $16.2K |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 0 | $262 |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 11 | $11.6K |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 6 | $6.3K |
| Jun 2, 2026 | Pletcher Kurt Chief Legal Officer | Sale 10b5-1 plan | 3 | $3.2K |
| Jun 2, 2026 | Lin Jonathan Chief Business Officer | Sale 10b5-1 plan | 8 | $8.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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