Digital infrastructure company Equinix reported third-quarter revenue slightly under market expectations, with record bookings across the company.
GAAP net income for the quarter came to $152 million million or $1.68 per share. Quarterly revenues increased 10% over the same quarter last year to $1.675 billion. Analysts were expecting a revenue of $1.68 billion.
Charles Meyers, President and CEO, Equinix, said the pandemic has triggered an accelerated need to digitize business models in virtually every segment of the economy.
"Our strong Q3 results are reflective of this increasing demand for digital services. As the world's digital infrastructure company, Equinix remains uniquely positioned to help businesses as they shift towards distributed, hybrid and multicloud as the clear architecture of choice," Meyers said.
For the fourth quarter of 2021, Equinix expects revenues between $1.685 billion and $1.705 billion. For the full year, the company expects revenue between $6.614 billion and $6.634 billion.
In September, Equinix announced that it completed the acquisition of the India operations of GPX Global Systems, Inc and the company opened a new 5G and edge technology development center.