Equinix: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 04:33 PM ET
Last Updated - Jun 21, 2023, 11:15 PM EDT
REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.
The Redwood City, California-based real estate investment trust said it had funds from operations of $801.8 million, or $8.59 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $7.92 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
