Equinix raises annual results forecast on steady data center demand
The company has benefited from the increased demand for data center infrastructure amid a surge in artificial intelligence usage.
Major cloud firms, including Google, have pledged significant investments this year to expand on AI, underscoring robust demand for AI-related products and solutions.
Equinix provides organizations with secure, resilient and power-efficient environments to house their IT equipment within its data centers, while offering shared infrastructure and connectivity solutions.
The company now expects annual revenue to be between $9.23 billion and $9.33 billion, compared with prior projection of $9.18 billion to $9.28 billion.
It now expects annual per-share funds from operations, a key measure of cash flow, to be in the range of $37.67 to $38.48 per share, compared with previous forecast of $37.36 to $38.17.
In the second quarter ended June 30, the company's revenue rose 4.6 per cent to $2.26 billion, in line with estimates, according to data compiled by LSEG.
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