Earnings

Equinix Raises 2026 Outlook for Third Straight Quarter

The Tip Desk · October 29, 2026 · 3 min read

Annualized gross bookings hit a record $533 million, up 35% year over year, as the digital-infrastructure company lifted full-year revenue guidance to as much as $10.365 billion.

Equinix, Inc. (EQIX) raised its full-year 2026 revenue outlook for the third consecutive quarter after annualized gross bookings reached a record $533 million, up 35% year over year, from 23% year-over-year growth in the second quarter.

The digital-infrastructure company now expects 2026 revenue of $10.325 billion to $10.365 billion, about 12% growth, up from a prior range of $10.205 billion to $10.285 billion. It also lifted full-year adjusted EBITDA guidance to $5.290 billion to $5.330 billion, implying a margin of about 51% and roughly 200 basis points of expansion versus the prior year, and raised AFFO guidance to $4.340 billion to $4.380 billion, or $43.71 to $44.11 a share.

For the quarter ended September 30, revenue was $2.571 billion, up 11% as reported and 12% on a normalized and constant-currency basis. That followed 16% year-over-year growth in the second quarter, which included one-time xScale fees. Operating income was $600 million, up 27% from a year earlier, after a 35% increase in the prior quarter that also included those fees.

Net income attributable to common stockholders was $489 million, up 31% year over year, including a non-recurring fee tied to the atNorth joint venture. Diluted earnings were $4.93 a share, up 29%. Adjusted EBITDA was $1.321 billion, up 15% as reported and 14% on a normalized and constant-currency basis, with a 51% margin. The second quarter had posted a record 53% adjusted EBITDA margin. AFFO was $1.156 billion, or $11.64 a share.

Monthly recurring revenue grew double digits year over year for a fourth consecutive quarter. Interconnection revenue rose 10% year over year on both an as-reported and a normalized and constant-currency basis. Fabric revenue was up 24% on both bases. The company added 6,900 net interconnections, down from a record 9,700 in the second quarter.

Americas revenue was $1.148 billion, EMEA $878 million and Asia-Pacific $545 million. Worldwide colocation revenue was $1.826 billion, interconnection $465 million, managed infrastructure $108 million and other $43 million. Recurring revenue was $2.442 billion; non-recurring revenue was $129 million. Adjusted EBITDA by region was $560 million in the Americas, $456 million in EMEA and $305 million in Asia-Pacific.

The company said it accelerated new capacity delivery, with nearly 40% more cabinets planned for 2026 than initially anticipated. It introduced Fabric One, an any-to-any connectivity service with AWS and Google Cloud as lead integration partners, and announced Equinix Inference Exchange with NVIDIA and Together AI. It also launched EPIC liquid-cooling innovation centers and completed the atNorth investment with CPP Investments.

For the fourth quarter, Equinix expects revenue of $2.684 billion to $2.724 billion, or 12% to 13% growth on a normalized and constant-currency basis, and adjusted EBITDA of $1.328 billion to $1.368 billion, with a 49% to 50% margin. Full-year capital expenditures are expected at $5 billion to $6 billion.

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