Equinix Delivers Record Bookings in Q3 2026 and Raises Full-Year Guidance

Executive Summary

On October 28, 2026, Equinix, Inc. filed a Form 8-K under Item 2.02 (Results of Operations and Financial Condition) announcing financial results for the third quarter ended September 30, 2026, and increasing full-year 2026 guidance for the third consecutive quarter.

Q3 2026 Financial Highlights

• Revenues: $2.571 billion, up 11% year-over-year on an as-reported basis and up 12% on a normalized and constant currency basis.
• Operating Income: $600 million, an increase of 27% compared to the prior-year period.
• Net Income Attributable to Common Stockholders: $489 million ($4.93 per diluted share), up 31% year-over-year from higher operating income and a non-recurring fee related to the atNorth joint venture investment.
• Adjusted EBITDA: $1.321 billion, up 15% year-over-year as-reported and 14% on a normalized and constant currency basis.
• AFFO & AFFO Per Share: AFFO reached $1.156 billion (+20% YoY as-reported; +14% normalized excluding joint venture fee), translating to $11.64 per diluted share (+18% YoY as-reported; +12% normalized).

Commercial & Operational Milestones

• Gross Bookings: Delivered record annualized gross bookings of $533 million, climbing 35% year-over-year.
• Interconnections: Added 6,900 net interconnections during the quarter; interconnection revenue rose 10% YoY, with Fabric revenue up 24% YoY.
• Capacity Expansion: Accelerated delivery timeline, planning nearly 40% more cabinet capacity in 2026 than initially projected.
• Product Innovations: Introduced Fabric One (cloud/network/AI connectivity with AWS and Google Cloud) and Equinix Inference Exchange (in collaboration with NVIDIA and Together AI).

Updated FY 2026 Guidance

• Revenues: Raised to $10.325B – $10.365B (previously $10.205B – $10.285B), representing ~12% year-over-year growth.
• Adjusted EBITDA: Raised to $5.290B – $5.330B (margin of ~51%), up from prior range of $5.210B – $5.270B.
• AFFO: Increased to $4.340B – $4.380B.
• AFFO per Share (Diluted): Increased to $43.71 – $44.11 (prior guidance: $42.69 – $43.29), reflecting 11% to 12% normalized growth.
• Q4 2026 Outlook: Revenue expected between $2.684B and $2.724B with Adjusted EBITDA between $1.328B and $1.368B.