Equinix turns positive after mixed results, light guidance
- Down AH yesterday after missing Q4 EPS estimates (while beating on revenue) and offering light guidance, Equinix (EQIX +2.3%) is now higher. Shares are less than $2 away from an all-time high of $235.84.
- The data center owner is guiding for Q1 revenue of $634M-$638M (below a $647.6M consensus), and full-year revenue of "greater than" $2.63B (below a $2.69B consensus). Forex is respectively expected to impact Q1 and full-year revenue by $19M and $100M.
- While 2015 revenue guidance implies 8% Y/Y growth, AFFO is expected to rise 12% to "greater than" $810M. Capex is expected to rise to $700M-$800M from 2014's $660.2M.
- Q4 AFFO was $194.5M (+10% Y/Y), and 2014 AFFO $761.7M (+12%). Quarterly business metrics were solid: Billed cabinets +2% Q/Q and +10% Y/Y to 97.9K; monthly recurring revenue per cabinet +1% and +2% to $2,001; and cross-connects +4% and +14% to 146.8K.
- Q4 results, PR, earnings slides (.pdf)
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