Equinix: Q2 Earnings Snapshot
By AP News
Published - Aug 08, 2024, 10:05 AM ET
Last Updated - Aug 08, 2024, 10:05 AM EDT
REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Redwood City, California, said it had funds from operations of $877 million, or $9.22 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $8.82 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.
