Equinix posts 13% Y/Y increase in revenues in 2023
Digital infrastructure company Equinix, Inc. (NASDAQ:EQIX) has reported results for the quarter and year ended December 31, 2023.
Revenues for 2023 amounted to $8.188 billion, a 13% increase over the previous year on an as-reported basis or 15% on a normalized and constant currency basis.
Operating income reached $1.443 billion, a 20% increase over the previous year, and an operating margin of 18% due to strong operating performance.
Net income for 2023 was $969 million, a 38% increase over the previous year, primarily due to operating performance strength and other income.
Adjusted EBITDA reached $3.702 billion, a 45% adjusted EBITDA margin, an increase of 10% compared to last year on an as-reported basis.
Charles Meyers, CEO and President of Equinix, commented:
“2023 was another strong year for Equinix—we delivered more than $8 billion of revenues, achieving an amazing 21 years of consecutive quarterly revenue growth, all while driving AFFO per share performance above the top end of our long-term expectations. We made substantial progress on our ambitious agenda, positioning the business to capitalize on the immense opportunities that lie ahead. Digital transformation, especially in an AI-driven world, is as important as ever to our customers.
In this context, the significance of Platform Equinix and its strong competitive advantages has never been more crucial. We plan to continue our focus on creating a platform that allows our customers to build hybrid and multicloud infrastructure, when they want, where they want, and with the ecosystem of partners they need.”