Equinix raises earnings forecast due to strong data center demand, positive.

From Investing.com: 2024-08-07 17:46:48

Equinix raises adjusted core earnings forecast, citing strong demand for data center services due to generative AI adoption. Data center infrastructure crucial for training large language models. Acquired three data centers in Philippines to bolster presence in Southeast Asia. Expects FY 2024 earnings between $4.07-4.13 billion, third-quarter revenue $2.19-2.21 billion.
Adjusted core earnings for Q2 at $1.04 billion, up 4% from previous quarter. Adjusted funds from operations at $9.22 per share, up 4% sequentially. Company’s revenue in Q2 at $2.16 billion, in line with analyst estimates. Analysts predict FY 2024 earnings at around $4.10 billion. Equinix well positioned for growth in data center market.



Read more at Investing.com: Equinix raises annual adjusted core earnings forecast on strong data center demand By Reuters