Equinix, Inc. operates as a global digital infrastructure and data center REIT focused on colocation, interconnection and related services for enterprises, cloud providers, networks and hyperscale customers. Company news commonly covers quarterly operating results, recurring revenue trends, bookings, backlog, data center asset performance and common stock dividends.
Equinix updates also include customer and partner deployments across its global data center footprint, product launches tied to AI and private connectivity, and capital markets activity such as senior note offerings by wholly owned finance subsidiaries. Other recurring developments include workforce initiatives and executive leadership changes within its technology-infrastructure business.
Equinix, Inc. (Nasdaq: EQIX) announces plans to open its first data center, BX1, in Bordeaux, France, in Q3 2021. This facility will connect directly to Equinix's IBX sites in Paris, enhancing digital connectivity for global businesses and local authorities in New Aquitaine. BX1 will serve as a landing hub for the AMITIE submarine cable, linking France with the U.S. and Great Britain. The data center will utilize 100% renewable energy and is designed to provide modular, scalable services while contributing to the area's growing digital economy.
Equinix (Nasdaq: EQIX) has announced significant enhancements to its Equinix Metal service, expanding its global reach and capabilities. The service is now available in 18 global metros, enabling businesses to leverage interconnected infrastructure with the agility of cloud services. Key updates include new networking features for hybrid multicloud architectures, software integrations, and a managed appliance as a service solution. These improvements allow clients to activate infrastructure globally and connect with a vast partner ecosystem, enhancing performance and reducing latency in digital operations.
Pure Storage (NYSE: PSTG) and Equinix (Nasdaq: EQIX) have partnered to introduce Pure Storage on Equinix Metal, enhancing storage as a service in a multi-cloud environment. This new offering streamlines infrastructure management, allowing enterprises to shift to a more flexible IT model without owning data centers. With 57% of businesses opting for hybrid IT, this solution promises to reduce costs and operational risks. The service is accessible in 18 global locations and supports various applications, including high-volume and cloud-native workloads.
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Equinix (Nasdaq: EQIX) and Vodafone announced plans to build a new subsea hub, GN1, in Genoa, Italy, enhancing global connectivity. This hub will serve as a landing point for the 2Africa cable, a major telecom project aiming to connect 16 African countries to Europe and the Middle East. GN1 will provide secure colocation and interconnection services and is set to utilize 100% renewable energy. The project responds to the increasing demand for digital infrastructure and aims to boost economic development in the region.
Equinix (Nasdaq: EQIX) has declared a quarterly cash dividend of $2.87 per share on its common stock. This dividend will be paid on March 17, 2021, to shareholders on record as of February 24, 2021. This announcement reinforces Equinix’s commitment to returning value to its shareholders while continuing to support its digital infrastructure services, which empower businesses to scale and interconnect their foundational systems.
Equinix reported its 2020 financial results, showing an 8% year-over-year revenue increase to approximately $6 billion, marking its 72nd consecutive quarter of revenue growth. However, operating income decreased by 10% to $1.053 billion, attributed to acquisition costs. Net income fell 27% to $370 million, primarily due to these costs and losses from debt extinguishment. For 2021, Equinix forecasts revenue between $6.580 - $6.640 billion, expecting a 10-11% increase over 2020, with adjusted EBITDA projected at $3.067 - $3.127 billion.
Equinix (Nasdaq: EQIX) announced the tax treatment for its 2020 distributions to shareholders. For the year, the total distribution per share is $10.640, comprising ordinary taxable dividends and return of capital. Each quarterly dividend of $2.66 was reported as both ordinary and qualified taxable dividends, with no return of capital. As the federal income tax return for the year ended December 31, 2020, is yet to be filed, shareholders are advised to consult tax advisors for specific reporting guidance. This information is critical for investors regarding tax liabilities.
Equinix has announced its participation in the Climate Neutral Data Centre Operator Pact, a significant initiative involving various European cloud infrastructure and data center providers. This Pact aims to ensure that European data centers achieve carbon neutrality by 2030, aligning with the European Green Deal. Key commitments include improving energy efficiency, utilizing 100% carbon-free energy, and implementing sustainable practices. Equinix's past efforts include sourcing 100% renewable energy for its EU sites. The European Commission will monitor progress biannually.
Equinix (Nasdaq: EQIX) has announced transformative updates to its digital infrastructure offerings, notably Equinix Fabric, now established as the preferred interconnection standard for enterprises. This expansion allows for enhanced connections across a global footprint, supporting over 27,500 customer connections, reflecting a 32% year-over-year growth. The platform will see increased market availability, reaching a total of 56 strategic markets by the end of 2021. Additionally, Network Edge now features a full suite of SD-WAN services, enhancing agility for enterprises as they modernize their networks.