Digital infrastructure company Equinix, Inc. (NASDAQ:EQIX) today reported results for the quarter ended June 30, 2024.

Quarterly revenues increased 7% over the same quarter last year to $2.2 billion, or 8% on a normalized and constant currency basis. The result includes a $6 million negative foreign currency impact when compared to prior guidance rates.

Net income increased 45% year-over-year to $301 million and adjusted EBITDA surpassed the $1 billion quarterly threshold for the first time.

Operating Income amounted to $436 million, a 20% increase over the previous quarter, due to strong operating performance and a gain on the sale of Equinix’s Silicon Valley 12 xScale asset contributed into its newly created Americas xScale joint venture.

The company forecasts revenues of $8.692 – $8.772 billion for the full year, an increase of 6 – 7% over the previous year, or a normalized and constant currency increase of 7 – 8%, excluding the year-over-year impact of the power pass-through.

Equinix continues to invest broadly to further enhance the scale and reach of its industry-leading data center services portfolio. The company currently has 54 major projects underway in 36 markets, across 24 countries, including 15 xScale projects, representing more than 11,000 cabinets of retail capacity and more than 30 megawatts of xScale capacity to be delivered through the end of 2024.