Equinix Lifts 2026 Revenue Outlook A Third Straight Time As Bookings Reach $533 Million

Equinix, which runs data centers where companies rent space and power and connect directly to one another, raised its full-year 2026 guidance for the third consecutive quarter after third-quarter revenue of $2.571 billion, up 11% from a year earlier. Operating income rose 27% to $600 million, the company said in its results release on Wednesday.

Record bookings and double-digit growth

Annualized gross bookings hit a record $533 million, up 35% from a year earlier. Revenue growth was 12% on a normalized, constant-currency basis, against 11% as reported.

Interconnection revenue, which comes from the links between customers inside and across Equinix sites, rose 10% on both as-reported and normalized constant-currency bases. Fabric revenue climbed 24% on both bases, and the company added 6,900 net interconnections. Monthly recurring revenue grew by double digits for the fourth straight quarter.

Net income attributable to common stockholders rose 31% to $489 million, helped by higher operating income and a non-recurring fee tied to its investment in the atNorth joint venture. Earnings per diluted share were $4.93, up 29%. Adjusted EBITDA was $1.321 billion, up 15% as reported and 14% normalized.

A higher bar for 2026

Equinix now expects 2026 revenue of $10.325 billion to $10.365 billion, from a prior range of $10.205 billion to $10.285 billion. Adjusted EBITDA is guided to $5.290 billion to $5.330 billion, and AFFO, a cash-earnings measure used by real estate investment trusts, to $4.340 billion to $4.380 billion, or $43.71 to $44.11 per share.

For the fourth quarter, it expects revenue of $2.684 billion to $2.724 billion. Total capital spending is guided to $5 billion to $6 billion. Nearly 40% more cabinets are now planned for delivery in 2026 than initially anticipated.

CEO Adaire Fox-Martin said the company delivered "double-digit growth across the key metrics that drive long-term value creation." The company also introduced Fabric One and Equinix Inference Exchange, the latter with NVIDIA and Together AI, and completed its atNorth investment alongside CPP Investments.

Debt climbs as the build-out grows

Total debt principal outstanding was $25.217 billion at September 30, up from $21.417 billion at the end of 2025. Over the first nine months, the company took in $5.399 billion from senior notes and spent $4.392 billion on property, plant and equipment other than real estate.

Free cash flow was negative $801 million for the nine months, compared with negative $970 million a year earlier. Equinix holds a conference call on the results at 5:30 p.m. ET on Wednesday.

The company's call Wednesday at 5:30 p.m. ET is where management discusses the outlook behind the raised range.

Sources

• 8-K Filing — EQUINIX INC (EQIX) — SEC EDGAR
• Exhibit a991eqix-q326xpr.htm — EQUINIX INC 8-K exhibit — SEC EDGAR
• Equinix Reports Third-Quarter Results and Raises 2026 Guidance — prnewswire.com