Equinix 2Q Profit Fell to $68.3 Million on Debt Extinguishment Charge

By Jeffrey T. Lewis

Equinix Inc. reported a decline in profit in the second quarter from a year earlier after it booked a charge related to debt extinguishment.

The Redwood City, CA-based data center and internet interconnection company said net income fell 56% from the second quarter of last year to $68.3 million, while revenue increased 13% to $1.66 billion. Net income per share attributable to Equinix fell 56% to $0.76.

Equinix said it took a $101 million debt extinguishment charge in the quarter related to the completion in June of a $1.25 billion redemption of 2027 notes.

The company said it expects to have revenue in the third quarter in a range from $1.67 billion to $1.69 billion and 2021 revenue in a range from $6.62 billion to $6.66 billion. Equinix will pay a quarterly cash dividend of $2.87 per share of its common stock.

Equinix reported record bookings across the company, and said it exceeds 400,000 interconnections, giving it a critical role in business infrastructure for businesses.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

July 28, 2021 16:43 ET (20:43 GMT)

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