Equinix Q1 FFO $8.86 Beats $8.64 Estimate, Sales $2.13B Miss $2.14B Estimate
Portfolio Pulse from Benzinga Newsdesk
Equinix (NASDAQ:EQIX) reported Q1 FFO of $8.86 per share, surpassing the $8.64 estimate, marking a 3.14% year-over-year increase. However, its sales of $2.13B fell short of the $2.14B estimate, despite a 6.46% increase from the previous year.
May 08, 2024 | 10:03 pm
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Equinix reported a Q1 FFO that exceeded expectations and a slight increase in earnings per share year-over-year, but sales missed estimates despite growth.
The positive earnings per share (EPS) beat may provide a short-term positive sentiment, counterbalanced by the slight miss in sales expectations. Given the close miss on sales and the positive growth year-over-year, the overall impact on EQIX's stock price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100