Equinix Inc (EQIX) Releases Earnings Results, Beats Expectations By $0.45 EPS

Equinix Inc (EQIX) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $3.55 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.45. Analysts had a consensus of $3.10. The company posted revenue of $900.50 million in the period, compared to analysts expectations of $894.28 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Equinix Inc. Equinix Inc was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Equinix Inc was Initiated by Goldman to “Buy” on Jul 5, 2016. Company shares were Reiterated by Canaccord Genuity on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 390 from a previous price target of $370 .

Equinix Inc closed down -5.51 points or -1.45% at $373.46 with 5,41,057 shares getting traded on Tusday. Post opening the session at $379.22, the shares hit an intraday low of $371.413 and an intraday high of $380 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 8, 2016, Stephen M Smith (CEO & President) sold 3,621 shares at $368.18 per share price. According to the SEC, on Jun 2, 2016, Keith D Taylor (Chief Financial Officer) sold 5,500 shares at $363.85 per share price. On Jun 2, 2016, Yau Tat Lee (President – Asia Pacific) sold 1,607 shares at $366.62 per share price, according to the Form-4 filing with the securities and exchange commission.

Equinix Inc. is a networking company. The Company provides data center offerings primarily consisting of colocation interconnection solutions and managed IT infrastructure services. The Company’s colocation offerings include Cabinets Power and IBXflex. Cabinets allows customer for colocating networking server and storage equipment. Power is an element of increasing importance in customers’ colocation decisions. IBXflex allows customers to deploy mission-critical operations personnel and equipment on-site at its IBX data centers. The Company’s interconnection solutions enable scalable reliable and cost-effective interconnection and traffic exchange between Equinix customers. The Company offers managed IT infrastructure services such as Equinix Professional Services which offers practical guidance and proven solutions to help customers optimize and future-proof the data center architectures.

Equinix Inc

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