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Equinix projects 10-11% increase in 2021 annual revenue growth

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Data centre giants Equinix (NASDAQ: EQIX) has reported an 8% annual revenue increase year-over-year for the year ended December 31, 2020.

This year, Equinix is expecting revenue of $1.587 billion and $1.6 billion, up 2% due to timing of customer installations, according to the company.

The company’s 2020 annual revenues normalised and constant currency basis to approximately $6 billion, which represents Equinix’s 72nd consecutive quarter of revenue growth.

Equinix also reported 2020 operating income of $1.053 billion, which was a 10% decrease from the previous year, and an operating margin of 18%.

The company said this was partially due to increased acquisition costs and the prior year's gain on sale of assets contributed to the EMEA joint venture.

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"While 2020 brought about a landscape of challenges and change, Equinix continued to innovate and adapt, serving as a trusted partner to our customers on their digital transformation journey,” said Charles Meyers, President and CEO, Equinix.

“We continued to extend our market leadership, delivering approximately $6 billion of revenue and driving healthy growth both on the top-line and at the per-share level.

“As we look ahead, I am as optimistic as ever about our business and the expanding opportunity to serve our customers, partners and shareholders as the world's digital infrastructure company."

The digital infrastructure company continues to invest in its platform services and recently launched the availability of Equinix Metal, a fully automated and interconnected Bare Metal as a Service offering.

The company revealed that its interconnection revenues grew 14% year-over-year on a normalised and constant currency basis driven by its customers adopting Equinix Fabric.

Equinix now operates across 63 metros in 26 countries. In 2020, Equinix completed 16 new expansions, and new expansions planned in 2021 include the Geneva, Genoa, Madrid, Manchester, Muscat, New York and Osaka metros, with 44 large projects underway across 30 markets and 20 countries.

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