Equinix stock: Q3 growth lifts 2026 guidance again

Equinix reported stronger operating momentum for the quarter ended September 30, 2026, and raised its full-year outlook for the third consecutive quarter. The company disclosed the results on Wednesday, October 28, in a Equinix press release.

Equinix stock traded at 921.40 euros on Lang & Schwarz at 11:33 CET on Friday, October 30. The quote provides the current trading context, while the company's latest results remain the main driver for investors assessing the outlook.

Growth Broadens Across Equinix

Revenue reached 2.571 billion US dollars in the third quarter, up 11 percent from the same period a year earlier on an as-reported basis. On a normalized and constant-currency basis, revenue increased 12 percent. Recurring revenue was 2.442 billion US dollars, compared with 2.215 billion US dollars a year earlier.

Adjusted EBITDA rose 15 percent year over year to 1.321 billion US dollars on an as-reported basis. The adjusted EBITDA margin was 51 percent, compared with 50 percent in the prior-year quarter. Operating income increased 27 percent to 600 million US dollars.

Equinix also reported adjusted funds from operations of 1.156 billion US dollars. Diluted AFFO per share rose 18 percent to 11.64 US dollars on an as-reported basis. Excluding the benefit of a non-recurring fee related to the atNorth joint venture, AFFO increased 14 percent on a normalized and constant-currency basis and AFFO per share rose 12 percent. That distinction matters because the joint-venture fee boosted the reported quarter.

Annualized gross bookings reached a record 533 million US dollars, an increase of 35 percent from the prior year. Equinix added 6,900 net interconnections, while interconnection revenue increased 10 percent. Fabric revenue grew 24 percent. The company said it is planning nearly 40 percent more cabinet deliveries in 2026 than initially anticipated.

Full-Year Outlook Moves Higher

Equinix now expects 2026 revenue of 10.325 billion to 10.365 billion US dollars, compared with its previous range of 10.205 billion to 10.285 billion US dollars. The revised range implies approximately 12 percent growth for the year. Adjusted EBITDA guidance rose to 5.290 billion to 5.330 billion US dollars, with a margin of approximately 51 percent.

Full-year AFFO guidance increased to 4.340 billion to 4.380 billion US dollars. Diluted AFFO per share is expected at 43.71 to 44.11 US dollars, representing 11 percent to 12 percent normalized and constant-currency growth. Equinix continues to expect total capital expenditures of 5 billion to 6 billion US dollars, excluding real estate acquisitions and xScale.

For the fourth quarter, management expects revenue of 2.684 billion to 2.724 billion US dollars and an adjusted EBITDA margin of 49 percent to 50 percent. Monthly recurring revenue is expected to grow 10 percent to 11 percent year over year, while total revenue growth is expected at 12 percent to 13 percent on a normalized and constant-currency basis.

Chief Executive Officer Adaire Fox-Martin said the results reflected double-digit growth in key metrics, accelerated capacity delivery and broad-based demand. The company also highlighted Fabric One, Equinix Inference Exchange and its EPIC liquid-cooling initiative as products aimed at enterprise, cloud and artificial-intelligence workloads.

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