After its quarterly colocation services revenues in the first quarter of 2021 increased 10% over the same quarter last year to $1.596 billion, Equinix predicts its total revenues in 2021 to range between $6.559 and $6.619 billion – a 9 to 10% increase over the previous year.
In Q1, Equinix delivered one of the strongest net bookings quarters in the company’s history, with more than 4,300 data center colocation services deals across more than 3,200 customers, and the lowest churn in many years.
Equinix’s interconnection revenues grew in Q1 16% year-over-year. As a global data center colocation company, Equinix added more than 6,700 net interconnections, bringing the company’s total interconnections to over 398,000.
“We had a great start to the year, and as businesses continue to navigate towards a post-pandemic world, Equinix is uniquely well-positioned. Digital transformation continues to accelerate, and businesses across a broad range of verticals are recognizing that their infrastructure can be a key source of competitive advantage in an increasingly digital world,” said Charles Meyers, President and CEO of Equinix. “Q1 also marked a milestone for Equinix as we are now the market leader in retail colocation in all three regions of the world, taking the number-one spot in Asia-Pacific for the first time. Demand is strong with global IT spend expected to rebound above pre-pandemic levels as enterprises increase hybrid cloud spending, and service providers build out their delivery platforms to tap into this demand.”
Tapping into Hyperscale Business
In Q1, Equinix announced the expansion of Equinix Metal, including availability in 18 global metros, the addition of new networking features to support hybrid multicloud architectures, the certification of new software integrations, and the launch of a Managed Appliance as a Service solution. With these new and enhanced capabilities, Equinix Metal customers can consume interconnected infrastructure with the control of physical hardware and the low overhead and developer experience of the cloud.
Next to its global colocation and interconnection services, Equinix’s $3 billion xScale program is supporting global growth of hyperscale companies. The xScale program is expected to develop over 290 megawatts of power capacity for hyperscale customers across its first two off-balance sheet joint ventures. In Q1, Equinix announced the construction of the first building of its DB5x campus in Dublin, Ireland, which is 100% pre-leased to a major hyperscaler and is expected to be added to a current or future joint venture.