Equinix had a strong second quarter, beating revenue, EPS, and FFO expectations. Strategic partnerships with some of the largest firms in the world along with secular tailwinds make this company very interesting. High insider selling combined with potential accounting fraud poses massive risks to potential shareholders.
Equinix, Inc. (NASDAQ:EQIX ) TD Cowen's 10th Annual Communications Infrastructure Summit August 13, 2024 1:15 PM ET Company Participants Jon Lin - Executive Vice President and General Manager, Data Center Services Conference Call Participants Michael Elias - TD Cowen Michael Elias Well good morning, everyone and welcome to TD Cowen's 10th Annual Communications Infrastructure Summit. My name is Michael Elias, and I'm the Communications Infrastructure Analyst here at TD Cowen.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Equinix (EQIX) have what it takes?
Equinix (EQIX) posts stellar Q2 results, backed by strong demand for its colocation and interconnection services.
Equinix, Inc. (NASDAQ:EQIX ) Q2 2024 Earnings Conference Call August 7, 2024 5:30 PM ET Company Participants Chip Newcom - Senior Director of IR Adaire Fox-Martin - CEO and President Keith Taylor - CFO Conference Call Participants Simon Flannery - Morgan Stanley Nick Del Deo - MoffettNathanson David Barden - Bank of America James Schneider - Goldman Sachs Michael Elias - TD Cowen Michael Rollins - Citi Operator Good afternoon, and welcome to the Equinix Second Quarter Earnings Conference Call [Operator Instructions]. I would now like to turn the call over to Chip Newcom, Senior Director of Investor Relations.
Although the revenue and EPS for Equinix (EQIX) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Equinix (EQIX) came out with quarterly funds from operations (FFO) of $9.22 per share, beating the Zacks Consensus Estimate of $8.82 per share. This compares to FFO of $8.04 per share a year ago.
Equinix raised its annual adjusted core earnings forecast on Wednesday, betting on strong demand for its data center operation services amid growing adoption of generative artificial intelligence technology.
Equinix's (EQIX) Q2 earnings are likely to have benefited from the robust demand for data centers and expansionary efforts. However, higher interest expenses may have hurt it.
Equinix has been one of the best performing REITs over the last few years, despite the Federal Reserve's hawkish policy. There is a lot to like: EQIX provides an essential digital service, it has a great track record and enjoys a clear tailwind. Unfortunately, the stock seems way too expensive for my taste and I think other REITs might offer better value at the moment.
Equinix (EQIX) reachead $771.90 at the closing of the latest trading day, reflecting a +0.34% change compared to its last close.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Equinix (EQIX) have what it takes?