Equinix, Inc.

(NASDAQ Global Select)
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Bullish +75

Equinix stock: Q3 growth lifts 2026 guidance again

Earnings report Guidance raised New AI features AI-generated analysis

πŸ“ˆ Equinix reported third-quarter revenue of $2.571 billion, up 11% on an as-reported basis and 12% on a normalized constant-currency basis.

πŸ’° Adjusted EBITDA increased 15% year over year to $1.321 billion, with margins expanding to 51%.

πŸ“Š Annualized gross bookings hit a record $533 million, representing a 35% increase from the prior year.

πŸ—οΈ The company added 6,900 net interconnections and saw Fabric revenue grow by 24% during the quarter.

πŸš€ Management raised full-year 2026 guidance for revenue, adjusted EBITDA, and AFFO per share for the third consecutive quarter.

πŸ”₯ Equinix plans to deliver nearly 40% more cabinets in 2026 than initially anticipated due to strong demand.

πŸ€– New products like Fabric One and the Equinix Inference Exchange are targeting enterprise AI workloads.

πŸ’΅ Diluted AFFO per share rose 18% to $11.64, excluding a non-recurring fee from a joint venture.

πŸ“… For Q4 2026, management expects revenue between $2.684 billion and $2.724 billion with margins of 49-50%.

πŸ”§ CEO Adaire Fox-Martin attributed results to double-digit growth in key metrics and accelerated capacity delivery.

Bullish Signals
  • Equinix reported third-quarter revenue of $2.571 billion, up 11% on an as-reported basis and 12% on a normalized constant-currency basis.
  • Adjusted EBITDA increased 15% year over year to $1.321 billion, with margins expanding to 51%.
  • Annualized gross bookings hit a record $533 million, representing a 35% increase from the prior year.
  • The company added 6,900 net interconnections and saw Fabric revenue grow by 24% during the quarter.
  • Management raised full-year 2026 guidance for revenue, adjusted EBITDA, and AFFO per share for the third consecutive quarter.
  • Equinix plans to deliver nearly 40% more cabinets in 2026 than initially anticipated due to strong demand.
  • New products like Fabric One and the Equinix Inference Exchange are targeting enterprise AI workloads.
  • Diluted AFFO per share rose 18% to $11.64, excluding a non-recurring fee from a joint venture.
Full Analysis
Equinix Inc. reported robust third-quarter results for the period ended September 30, 2026, driven by double-digit operating growth and accelerated capacity delivery. Third-quarter revenue reached $2.571 billion, representing an 11% increase on an as-reported basis and a 12% rise on a normalized, constant-currency basis. Adjusted EBITDA surged 15% year over year to $1.321 billion, while operating income climbed 27% to $600 million, reflecting improved operational efficiency and strong demand across its digital infrastructure portfolio. The company achieved record annualized gross bookings of $533 million, a 35% increase from the prior year, fueled by significant growth in Fabric revenue which rose 24%. Equinix added 6,900 net interconnections during the quarter, and its recurring revenue grew to $2.442 billion. Management highlighted specific product innovations including Fabric One, the Equinix Inference Exchange, and the EPIC liquid-cooling initiative, which are attracting enterprise and cloud workloads focused on artificial intelligence. Following these strong results, Equinix raised its full-year 2026 guidance for revenue, adjusted EBITDA, and AFFO per share for the third consecutive quarter. The company now expects 2026 revenue between $10.325 billion and $10.365 billion, implying approximately 12% growth. Additionally, Equinix plans to deliver nearly 40% more cabinets in 2026 than initially anticipated, signaling a major expansion in its data center capacity to meet surging market demand.