Equinix’s Record $533 Million Bookings Rise 35% Year on Year in Third Quarter
Key Facts
Equinix posted record annualized gross bookings of $533 million in the third quarter of 2026, up 35% year on year, and said growth came amid strong demand and improved pricing. The results reflect increased activity in data centers and interconnection, while the company raised its full-year outlook after reporting results. Chief Executive Adaire Fox-Martin said Equinix had "accelerated capacity additions to meet broad-based demand." Bookings led the quarter’s indicators, alongside growth in revenue and operating income. The stock did not rise on November 2; it closed at $993.69, compared with $1,013.70 on October 30, according to EL7 data.
Revenue totaled $2.571 billion for the quarter, up 11% from the same period a year earlier on a reported basis and 12% on a normalized and constant-currency basis. Operating income rose to $600 million, up 27% year on year, with Equinix attributing the increase mainly to strength in underlying operating performance. Adjusted earnings per share were $4.93, topping analysts’ estimate of $4.12, while revenue was $2.57 billion versus expectations of $2.56 billion, according to Investing.com. The combination of revenue and earnings growth with record bookings points to broadening operating momentum during the quarter. Fox-Martin said the quarterly results and higher full-year outlook reflected the company’s "premium position and increasing importance."
Interconnection revenue grew 10% year on year on both reported and normalized, constant-currency bases, while Equinix Fabric revenue increased 24% year on year on both bases. The company added 6,900 net interconnections in the third quarter, an operating indicator of expanding use of its infrastructure to connect companies and their networks. These metrics provide context for bookings, as demand growth extended to the company’s connectivity services and digital platform. In the second quarter of 2026, annualized gross bookings had risen 23% year on year, reaching the second-highest level in the company’s history, while 9,700 interconnections were added, a quarterly record. Bookings growth therefore accelerated in the third quarter compared with the previous quarter’s rate, although the number of connections added was below the record set then.
The company’s response to demand reflects capacity expansion and faster delivery; it said it plans to deliver about 40% more cabinets during 2026 than originally planned. Fox-Martin said the company had accelerated capacity additions to meet broad-based demand, without limiting it to a single workload type. Equinix had attributed demand to traditional workloads and artificial intelligence, as well as improved pricing. Capacity expansion and execution of delivery plans are part of monitoring the company’s ability to accommodate elevated bookings. The company forecasts fourth-quarter 2026 revenue of between $2.684 billion and $2.724 billion.
In market trading, Equinix shares gained when results were announced on October 28: They rose 0.83% during the regular session to $1,007.66, then climbed 2.11% in extended trading to $1,028.95, according to Investing.com. But EL7 data shows a close of $993.69 on November 2, below the October 30 close of $1,013.70. The subsequent share performance puts the stock’s later move in a different context from its initial response to the results. The previous annual outlook update, in the second-quarter earnings announcement, raised the 2026 revenue range to $10.205–$10.285 billion, with a $100 million underlying increase and a $49 million negative foreign-exchange impact. The company is now looking to the fourth quarter within its announced revenue range, while the planned increase in cabinet deliveries remains part of its operational response to demand.