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How Equinix (EQIX) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/29/2026
Equinix Inc., is an American multinational internet and data center company headquartered in Redwood City, California. · Wikipedia
More about the company
It specialized in internet connectivity and data center colocation centers, commonly known as carrier hotels, until the company converted to a real estate investment trust (REIT) in January 2015. It is listed on the Nasdaq stock exchange under the ticker symbol EQIX. As of 2025, the company operates 260 data centers in 33 countries, across five continents and employed more than 13,000 people worldwide.
Key growth driver: Americas — the fastest-growing revenue line: $1,251, +25% y/y. · by the Q2 2026 report
How does Equinix make money?
Equinix brought in $2.63 billion of revenue in Q2 2026, up 16.4% year over year. The largest source was Americas: $1.25 billion, or 48% of the total, followed by EMEA ($845M, 32%) and Asia-Pacific ($529M, 20%). Net income for the quarter was $479 million, up 30.2% year over year.
Revenue by source, Q2 2026
- Americas$1.25B · 48% · +24.6%
- EMEA$845M · 32% · +10.2%
- Asia-Pacific$529M · 20% · +9.1%
Shares of $2.63B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is EQIX’s next earnings date?
Wednesday, October 28, 2026confirmed · after market close
Equinix (EQIX) is scheduled to report results for the quarter ending Sep 2026 on Oct 28, 2026. Consensus EPS forecast: $9.28 (5 analysts), vs $9.83 in the same quarter last year.
What time does EQIX report? Usually after market close: the last 4 results releases reached the SEC at 4:13 pm, 4:11 pm, 4:11 pm, 4:11 pm ET.
Last report: Jul 29, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$2,625
+16.4%
Gross profit
$1,395
+19.0%
53.1% margin
Operating income
$665
+34.6%
25.3% margin
Net income
$479
+30.2%
$4.83 diluted EPS
Verdict: An exceptionally strong quarter for Equinix as revenue grew 16% and operating income jumped 35% on broad-based demand plus one-time xScale fees, though rising interest expense from heavier debt issuance is a growing drag on profit conversion.
OCF $1,784M (6mo); dividends paid $1,029M (6mo); raised FY2026 revenue guidance to $10.205-10.285B and long-term outlook (2027-2029 revenue growth raised to 10-13%).
Source and notation
* marks non-cash / ≈ estimated. Source: Equinix press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- debt load increased (Q2 2026)
Most likely because interest expense rose to $151M (+12% y/y) as total debt principal grew to $22.15B, driven by $2.4B of new senior notes issuance in 1H26; free cash flow remained negative (-$560M for 1H26) due to elevated capex for data center capacity expansion (52 projects underway across 33 markets). Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗EQIX earnings history: past report dates
| Jul 29, 2026 Wed | 4:13 pmafter market close | Jun 30, 2026 | $2.6B+16% y/y | $4.83+29% y/y |
| Apr 29, 2026 Wed | 4:11 pmafter market close | Mar 31, 2026 | $2.4B+10% y/y | $4.20+20% y/y |
| Feb 11, 2026 Wed | 4:11 pmafter market close | Dec 31, 2025 | ≈$2.4B+7% y/y | ≈$2.70 |
| Oct 29, 2025 Wed | 4:11 pmafter market close | Sep 30, 2025 | $2.3B+5% y/y | $3.81+23% y/y |
| Jul 30, 2025 Wed | 4:15 pmafter market close | Jun 30, 2025 | $2.3B+4% y/y | $3.75+19% y/y |
| Apr 30, 2025 Wed | 4:12 pmafter market close | Mar 31, 2025 | $2.2B+5% y/y | $3.50+44% y/y |
| Feb 12, 2025 Wed | 4:11 pmafter market close | Dec 31, 2024 | ≈$2.3B+20% y/y | ≈−$0.19 |
| Oct 30, 2024 Wed | 4:18 pmafter market close | Sep 30, 2024 | $2.2B+7% y/y | $3.10+6% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Equinix: 5-year financials
| 2025 | 9,217 | 1,848 | 1,350 | 1,856 |
| 2024 | 8,748 | 1,328 | 815 | 1,643 |
| 2023 | 8,188 | 1,443 | 969 | 1,375 |
| 2022 | 7,263 | 1,200 | 705 | 1,152 |
| 2021 | 6,636 | 1,108 | 500 | 1,043 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2026Diluted share count rose 11.0% over 2020–2025, roughly 2% a year; SBC of $498M = 5.4% of revenue (XBRL). data.sec.gov ↗
- Nov 2025On 11/19/2025 the SEC said it had concluded its investigation (opened in April 2024 after a short-seller report) without recommending enforcement action. sec.gov ↗
- Dec 2025The disclosure class action (N.D. Cal., 2024) was settled for $41.5M in cash; the court approved the settlement on 12/19/2025, with the payment covered by insurance. storage.courtlistener.com ↗
- Feb 20262025 10-K cover: a single class of common stock (Nasdaq: EQIX); the per-share dividend rose from $12.40 (2022) to $18.76 (2025). data.sec.gov ↗
Scoring: 2.0 −0.5 (criterion 1: diluted shares +11% over 5 years — regular at-market REIT equity issuance) = 1.5
- Share classes
- Single class of common stock (10-K cover: Common Stock, Nasdaq).
- Dilution
- Diluted shares +11.0% over 2020–2025 (≈2% a year, at-market issuance to fund data centers) → −0.5; SBC 5.4% of revenue (<10%).
- Disclosure
- Full 10-K/10-Q reporting; the SEC inquiry into the Hindenburg report was closed without action.
- Dividends
- REIT dividend rising: $12.40 (2022) → $18.76 (2025) per share.
- Lawsuits & regulators
- The 2024 class action (N.D. Cal.) was settled for $41.5M (<$50M, paid by insurance) → no deduction; on 11/19/2025 the SEC closed its investigation without recommending action, and no further action by the NDCA U.S. Attorney's Office is expected.
- Related parties
- No material related-party transactions in the 2026 proxy.
How the score works · checked as of Sep 2026
Equinix (EQIX) earnings: FAQ
How does Equinix make money?
Equinix brought in $2.63 billion of revenue in Q2 2026, up 16.4% year over year. The largest source was Americas: $1.25 billion, or 48% of the total, followed by EMEA ($845M, 32%) and Asia-Pacific ($529M, 20%). Net income for the quarter was $479 million, up 30.2% year over year.
When is EQIX's next earnings date?
Equinix (EQIX) is scheduled to report on Oct 28, 2026, after market close.
What time does EQIX report earnings?
Equinix is scheduled to report after market close on Oct 28, 2026. Its last results releases were filed after market close, most recently at 4:13 pm ET on Jul 29, 2026.
When did EQIX last report earnings?
Equinix reported Q2 2026 results on Jul 29, 2026.
What is the EPS estimate for EQIX's next earnings?
The consensus EPS forecast is $9.28 (5 analysts), vs $9.83 in the same quarter last year.
Where can I find Equinix's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to EQIX's filings; this page breaks the latest report down in a Sankey chart.
What was EQIX's net income in Q2 2026?
Equinix reported net income of $479M for Q2 2026 (+30.2% year over year), under US GAAP.
Does Equinix pay dividends?
Yes. In 2025, Equinix paid $1,856M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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