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Equinix

Equinix (EQIX) Q2 2026 Earnings

Reported Jul 29, 2026 at 4:13 PM ET · SEC Source

Q2 26 EPS

$4.83

BEAT +0.73%

Est. $4.80

Q2 26 Revenue

$2.63B

BEAT +1.68%

Est. $2.58B

vs S&P Since Q2 26

-4.0%

TRAILING MARKET

EQIX +0.3% vs S&P +4.3%

Market Reaction

Did EQIX Beat Earnings? Q2 2026 Results

Equinix posted a convincing beat across both top and bottom lines in Q2 2026, with revenue climbing 16.4% year over year to $2.63 billion against a consensus estimate of $2.58 billion, while diluted EPS of $4.83 edged past the $4.79 estimate by 0.73%… Read more Equinix posted a convincing beat across both top and bottom lines in Q2 2026, with revenue climbing 16.4% year over year to $2.63 billion against a consensus estimate of $2.58 billion, while diluted EPS of $4.83 edged past the $4.79 estimate by 0.73%. The standout driver was a powerful combination of record commercial momentum and accelerating AI-related demand, with annualized gross bookings of $424.00 million growing 23% year over year and a record 9,700 net interconnections added in the quarter. Adjusted EBITDA reached $1.40 billion at a 53% margin, up 24% year over year, as the company expanded capacity with 52 projects now underway across 33 markets. Institutional interest has been building alongside the results, with major investors adding meaningful positions in recent months. Looking ahead, Equinix raised its full-year 2026 revenue guidance to $10.21 billion to $10.29 billion, representing 11% to 12% growth, and lifted its longer-term annual revenue growth outlook to 10% to 13% through 2029, citing stronger-than-expected demand and firmer pricing.

Key Takeaways

  • • Monthly recurring revenue grew 11% YoY on both as-reported and normalized constant currency basis
  • • Annualized gross bookings of $424 million grew 23% YoY, the second-highest volume on record
  • • Record 9,700 net interconnections added in the quarter
  • • One-time xScale fees contributed to revenue and profit growth
  • • Strong underlying operating performance across all regions

EQIX Forward Guidance & Outlook

For Q3 2026, Equinix expects revenues of $2.525–$2.575 billion (9–11% YoY growth as-reported, 10–12% normalized and constant currency), and adjusted EBITDA of $1.275–$1.315 billion (~51% margin). For full-year 2026, the company raised guidance: revenues of $10.205–$10.285 billion (11–12% growth), adjusted EBITDA of $5.210–$5.270 billion (~51% margin, ~2% expansion YoY), AFFO of $4.240–$4.300 billion (13–14% growth), AFFO per share of $42.69–$43.29 (11–13% growth), total capex of $5.0–$6.0 billion, and expected cash dividends of ~$2.039 billion. The long-term outlook (2027–2029) was also raised: annual revenue growth of 10–13% (from 7–10%), adjusted EBITDA margin of 53%+ by 2029 (from 52%+), AFFO per share growth of 9–12% (from 5–9%), annual capex of $5.0–$7.0 billion (from $3.0–$4.0 billion), and dividend per share growth approximating AFFO per share growth.

24/7 Wall St

EQIX YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

EQIX Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26
24/7 Wall St

EQIX Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“We delivered an exceptionally strong Q2. Monthly recurring revenue grew double digits for the third straight quarter, new interconnections on our platform hit a record level, and disciplined execution drove robust profit growth.”

— Adaire Fox-Martin, Q2 2026 Earnings Press Release

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