The third consecutive guidance raise and record bookings signal accelerating demand for Equinix's digital infrastructure, particularly AI workloads. Watch Q4 2026 results for continued momentum in interconnection and Fabric revenue, and monitor capital expenditure deployment against the $5B-$6B full-year target.
Price Chart
Executive Summary
Equinix reported Q3 2026 AFFO per share of $11.64, well above the $9.28 consensus, on revenue of $2.571B (above the $2.56B consensus). The company raised full-year 2026 guidance for the third consecutive quarter, citing strong demand and record gross bookings of $533M. Revenue grew 11% YoY and AFFO per share rose 18% YoY, driven by double-digit growth in interconnection and monthly recurring revenue.
Key Financial Metrics
Key Facts
- Q3 2026 AFFO per diluted share of $11.64 vs consensus of $9.28, a beat of 25.4%
- Revenue of $2.571B vs consensus of $2.56B, a beat of 0.4%
- Revenue grew 11% YoY on an as-reported basis and 12% on a normalized and constant currency basis
- Record annualized gross bookings of $533M, up 35% YoY
- Full-year 2026 revenue guidance raised to $10.325B-$10.365B from prior $10.205B-$10.285B
- Full-year 2026 AFFO per share guidance raised to $43.71-$44.11 from prior $42.69-$43.29
- Adjusted EBITDA margin of 51% in Q3, up 100 bps YoY
- Interconnection revenue grew 10% YoY; Fabric revenue up 24% YoY
- Net income attributable to common stockholders of $489M, up 31% YoY
- GAAP diluted EPS of $4.93, up 29% YoY
Financial Impact
Q3 AFFO per share of $11.64 beat consensus by $2.36 (25.4%); revenue beat by $11M (0.4%). Full-year AFFO per share guidance raised by $1.02-$0.82 at the midpoint.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Americas | $1.1B | +10.9% |
| EMEA | $878.0M | +12.0% |
| Asia-Pacific | $545.0M | +9.7% |
Risk Factors
- Elevated capital expenditure ($5B-$6B full-year) and negative free cash flow may pressure balance sheet metrics
- Total debt principal outstanding increased to $25.2B from $21.4B at year-end 2025
- Non-recurring revenue of $129M in Q3 was down from $248M in Q2 2026, though up from $101M in Q3 2025
- Foreign exchange headwinds could impact international revenue growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001101239-26-000178 |
| Document: eqix-20261028.htm | 0001101239-26-000178 |
| Document: 0001101239-26-000178-index-headers.html | 0001101239-26-000178 |
| Document: 0001101239-26-000178-index.html | 0001101239-26-000178 |
| Document: 0001101239-26-000178.txt | 0001101239-26-000178 |
| 8-K Data (Synthetic) | 0001101239-26-000178 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | S-3ASR | $1,019.00 | awaiting T+5 | awaiting T+5 | $1,036.67 (+1.73%) |
Oct 28, 2026 1d ago | 8-K | $1,035.75 | awaiting T+5 | awaiting T+5 | $1,036.67 (+0.09%) |
Oct 28, 2026 1d ago | Press Release | $1,028.50 | awaiting T+5 | awaiting T+5 | $1,036.67 (+0.79%) |
Oct 16, 2026 13d ago | Institutional Cluster | $975.71 $966.64 | ▼ −0.93% | ▼ −0.78% | $1,036.67 (+6.25%) |
Oct 1, 2026 28d ago | Press Release | $1,012.33 | awaiting T+5 | awaiting T+5 | $1,036.67 (+2.40%) |
Sep 4, 2026 7w ago | Press Release | $1,035.98 $998.72 | ▼ −3.60% | ▼ −2.39% | $1,036.67 (+0.07%) |
Aug 20, 2026 10w ago | Insider Cluster | $1,065.39 $1,044.41 | ▼ −1.97% | ▼ −2.44% | $1,036.67 (−2.70%) |
Jun 16, 2026 19w ago | Institutional Cluster | $1,094.68 $1,115.93 | ▲ +1.94% | ▲ +4.17% | $1,036.67 (−5.30%) |
Jun 8, 2026 20w ago | Insider Cluster | $1,059.84 $1,064.38 | ▲ +0.43% | ▼ −1.98% | $1,036.67 (−2.19%) |
Jun 3, 2026 21w ago | Insider Cluster | $1,089.15 $1,043.18 | ▼ −4.22% | ▼ −1.67% | $1,036.67 (−4.82%) |
US Market Status
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