EarningsQ2 2026 Earnings Report
MX:EQIX Q2 2026 EPS Results
Actual EPS$88.36
Consensus EPS$86.48
Beat/MissBeat by +$1.88
One Year Ago EPS$68.60
MX:EQIX Q2 2026 Revenue Results
Actual Revenue$48.02B
Expected Revenue$47.38B
Beat/MissBeat by +$641.06M
YoY Revenue Growth+16.36%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:EQIX Upcoming Earnings
Equinix's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:EQIX Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based demand and execution with multiple record metrics (MRR +11%, bookings +23%, record interconnections), margin expansion, upgraded near- and long-term guidance, and sizeable, conviction-driven CapEx to capture AI-related opportunity. Key risks include the sizeable acceleration in capital spending, higher expected leverage and cost of capital, concentration of build activity in power-constrained metros, and dependence on sustained AI demand. On balance, the positives—elevated bookings, recurring revenue acceleration, margin improvement, and liquidity—outweigh the manageable execution and market risks.Company Guidance
Accelerating Recurring Revenue Growth
Monthly recurring revenue (MRR) growth accelerated to 11% year-over-year on a normalized and constant currency basis, marking the third straight quarter of double-digit MRR growth; total revenues increased 16% YoY.
Record Sales Momentum and Bookings
Annualized gross bookings grew 23% to $424 million (second highest on record); total sales activity (bookings + presales) grew over 30% with approximately $110 million of preselling and a record backlog.
Strong Profit and Margin Expansion
Adjusted EBITDA margin reached 53%, up 300 basis points YoY (approximately +150 bps excluding scale leasing fees); AFFO per share grew 18% YoY on a normalized and constant currency basis.
Raised Near-Term and Long-Term Guidance
Raised 2026 guidance: revenue growth to 11%–12%, AFFO per share growth to 10%–12%, and adjusted EBITDA margin to ~51% for the full year; long-term outlook (2027–2029) updated to 10%–13% annual revenue growth and 9%–12% AFFO per share growth.
Aggressive, Demand-Backed Capacity Expansion
2026 CapEx guidance increased to $5.0–$6.0 billion (company will double the number of cabinets delivered in H2); plans to invest $5–$7 billion annually in CapEx through 2029, with ~80% of expansion focused on top 25 metros.
Operational Traction and Ecosystem Strength
Added a record 9,700 net interconnections and 4,200 net cabinet billings in the quarter; Secure Cabinet Express cabinet orders up >30% YoY; cloud router bookings up ~170% YoY; ecosystem includes 8 of top 10 model providers and 8 of top 10 neo-clouds.
High Returns on Stabilized Assets and Solid Liquidity
194 stabilized assets are ~82% utilized and generated a ~27% cash-on-cash yield on growth PP&E; available liquidity approximately $7.7 billion and net leverage of ~3.6x adjusted EBITDA.
Product and Leadership Enhancements
Launched Fabric GeoZones (sovereignty feature) in preview with ~80 enterprises; added Chief Product Officer and EVP Global Markets to strengthen product and regional execution.
MX:EQIX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed