Equinix 2Q Profit Fell to $68.3 Million on Debt Extinguishment Charge
July 28 2021 - 4:54PM
Dow Jones News
By Jeffrey T. Lewis
Equinix Inc. reported a decline in profit in the second quarter
from a year earlier after it booked a charge related to debt
extinguishment.
The Redwood City, CA-based data center and internet
interconnection company said net income fell 56% from the second
quarter of last year to $68.3 million, while revenue increased 13%
to $1.66 billion. Net income per share attributable to Equinix fell
56% to $0.76.
Equinix said it took a $101 million debt extinguishment charge
in the quarter related to the completion in June of a $1.25 billion
redemption of 2027 notes.
The company said it expects to have revenue in the third quarter
in a range from $1.67 billion to $1.69 billion and 2021 revenue in
a range from $6.62 billion to $6.66 billion. Equinix will pay a
quarterly cash dividend of $2.87 per share of its common stock.
Equinix reported record bookings across the company, and said it
exceeds 400,000 interconnections, giving it a critical role in
business infrastructure for businesses.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
July 28, 2021 16:43 ET (20:43 GMT)
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