REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The Redwood City, California-based real estate investment trust said it had funds from operations of $965 million, or $9.83 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $9.26 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $374 million, or $3.81 per share.
The data center operator, based in Redwood City, California, posted revenue of $2.32 billion in the period, which matched Street forecasts.
For the current quarter ending in December, Equinix said it expects revenue in the range of $2.41 billion to $2.53 billion.
The company expects full-year funds from operations in the range of $37.95 to $38.77 per share, with revenue ranging from $9.21 billion to $9.33 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EQIX at https://www.zacks.com/ap/EQIX
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