Equinix, the provider of colocation, interconnection and managed services, has reported quarterly results for the quarter ended March 31, 2014. Revenues were $580.1 million for the first quarter, a 3% increase over the previous quarter and a 12% increase over the same quarter last year.
Recurring revenues, consisting primarily of colocation, interconnection and managed services, were $549.7 million for the first quarter, a 2% increase over the previous quarter and an 11% increase over the same quarter last year. Non-recurring revenues were $30.4 million in the quarter.
“Equinix delivered a strong start to the year with revenue and adjusted EBITDA above the top end of our guidance ranges,” said Steve Smith, president and CEO of Equinix. “Our first quarter performance was solid across all three regions, and our key operating metrics, including MRR per cabinet, MRR churn, and cross-connect additions, reflect continued health of the business and the competitive edge derived from Platform Equinix.”
Equinix Cloud Exchange
“We are also excited to announce the Equinix Cloud Exchange,” Smith added. “Which builds on our successful heritage in interconnection service delivery by bringing together cloud and network service providers with buyers in a new way to realize the promise of cloud computing. With an encouraging start to 2014, Equinix is on track to deliver its financial objectives for the year.”
For the second quarter of 2014, Equinix expects revenues to range between $594.0 and $598.0 million. For the full year of 2014, total revenues of the colocation provider are expected to be greater than $2,395.0 million, or an as-reported greater than 11% year over year growth rate.