Equinix Revenue Hits $1.45 Billion As All Data Centers ‘Remain Operational’
'The Equinix business continues to perform well and show resiliency through these times of uncertainty,' says Equinix President and CEO Charles Meyers.
The coronavirus pandemic isn’t slowing down Equinix as the data center colocation giant generated $1.45 billion in revenue during the first quarter with its more than 200 data centers around the globe remaining operational.
With the majority of the Equinix data centers being identified by local governments as essential businesses or critical infrastructure, the company has kept its data centers operational during the COVID-19 pandemic, which helped boost total sales by 6 percent year over year with net income of $119 million in the first quarter, which ended March 31. The quarter marked the 69th consecutive quarter of sales growth for Equinix.
“The Equinix business continues to perform well and show resiliency through these times of uncertainty, enabling us to remain focused on the clear set of priorities we laid out at the beginning of the year—investing in our people, evolving our platform and service portfolio to meet the changing needs of customers, expanding our go-to-market engine to fuel long-term growth, and simplifying our business to drive operating leverage and enhance our customer experience,” said Charles Meyers, president and CEO of Equinix, in a statement.
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Approximately 30 percent of bookings in the first quarter came from Equinix channel partners, including wins around digital transformation and COVID-19 responses.
In terms of the coronavirus pandemic, Equinix, which made CRN’s 2020 Data Center 50 list, has taken precautionary measures to minimize the risk of operational impact on employees, customers and partners.
The company has implemented tools such as an appointment-based system to control timing and frequency of visits, while also encouraging customers to leverage its IBX (International Business Exchange) technicians via Smart Hands in order to restrict visits and minimize the number of people and the amount of time spent in data centers. Equinix Smart Hands is an around-the-clock, on-site, operational support service for remote management, installation and troubleshooting for data center equipment.
Equinix has temporarily closed all of its corporate offices and instructed non-IBX employees across the globe to work from home. “We extend our gratitude to all the front-line workers who are helping to keep us safe and healthy during this global pandemic,” said Meyers.
During the first quarter, Equinix signed a roughly $10 billion initial joint venture partnership with GIC, Singapore’s sovereign wealth fund, to develop and operate its hyperscale xScale data centers in Japan. The company also recently closed its $335 million acquisition of bare metal automation startup Packet.
The data center colocation and interconnection specialist provided full-year 2020 revenue guidance of between $5.88 billion and $5.99 billion, approximately a 7 percent increase compared with 2019.