Equinix cashes in on Verizon data centre acquisition.
Global interconnection and data centre company, Equinix reported results from its second quarter which surpassed Wall Street expectations.
The data centre giant reported an increase of 18 percent year-over-year in second quarter revenue, which rose to $1.06 billion.
According to Equinix, the majority of its earnings have been generated from its acquisition of Verizon’s 29 data centres, which Equinix completed in Q2 2017.
Along with the completion of the Verizon data centre acquisition, Equinix now also serves 42 percent of the Fortune 500 and 30 percent of the Global 2000.
The company has increasingly worked on expanding its global footprint, and in Q2 58 percent of its revenues were collected from customers across three regions, while 84 percent were from global customers in multiple metros.
Steve Smith, President and CEO, Equinix said: “Q2 was another strong quarter for Equinix, surpassing the milestone of $1 billion in quarterly revenues for the first time in the company’s history. A key highlight in the quarter was the completion of the acquisition of Verizon’s Americas data centre portfolio, strengthening our global market leadership and providing additional capacity to meet customer demand.
“As the shift to digital impacts businesses across all segments, private, secure and distributed interconnection continues to grow as a core design principle of IT, resulting in key new customer wins, and healthy and growing market share for Equinix.”
In June and July 2017, Equinix furthered its global expansion with the opening of new data centres in Amsterdam, Frankfurt and Silicon Valley. This increased Equinix’s global data centres to 182 IBX sites across 44 markets and 22 countries.
The company expects its revenue for the third quarter of the year to range between $1.13 and $1.14 billion, demonstrating an increase of 7% from the previous quarter.