Equinix 1Q18 - High CapEx backed by continued strong earnings growth
On a like-for-like basis, revenue was up by 10% yoy to $1,216m, driven by strong demand in all regions, while EBITDA was 11% stronger at $580m, i.e. a 47.7% margin. 1Q18 FCF was strongly negative at -$251m, giving a total of -$687m for the last twelve-month period. This was due to high CapEx (30% of revenue in 1Q18) and dividends due to Equinix’s REIT status.
Equinix provides colocation space and related offerings. The company operates International Business Exchange? (IBX?) data centers across the Americas; Europe, Middle East and Africa and Asia-Pacific geographic regions where customers directly interconnect with a network ecosystem of partners and customers. The company's data center solutions include IBX Data Centers and xScale Data Centers. The company's Interconnection Solution connect businesses within and between its data centers across its global platform. The company's edge services help businesses deploy as-a-service networking, security and hardware across its data center footprint, as an alternative to buying, owning and managing the physical infrastructure.
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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