Equinix is projecting 2021 revenue to increase 10% to 11% as it continues to expand its data center and cloud exchange footprint as well as services.
In the first quarter, Equinix is expecting revenue of $1.587 billion and $1.6 billion, up 2% sequentially due to timing of customer installations.
Equinix provides digital infrastructure and is organized as a real estate investment trust. However, Equinix has expanded into the platform and software markets too with the launch of Equinix Metal as well as Equinix Fabric and Equinix Network Edge.
For 2020, Equinix delivered $37 million, or $4.18 a share, in net income on revenue of $6 billion, up 8% from a year ago. The bulk of Equinix revenue comes from colocation followed by cloud interconnection and managed infrastructure.
In the fourth quarter, Equinix reported revenue of $1.56 billion with net income of $51 million, or 57 cents a share.
For the year, Equinix built out 16 new facilities.