Digital infrastructure company Equinix, Inc. (NASDAQ:EQIX) has reported results for the quarter ended March 31, 2023.
In the first quarter of 2023, revenues amounted to approximately $2.0 billion, marking a record quarter-over-quarter step up of $127 million or a 7% increase over the previous quarter.
Operating income totalled $384 million, a 36% increase over the previous quarter, due to strong operating performance and flat quarter-over-quarter SG&A spend and an operating margin of 19%.
Net income reached $259 million, a 101% increase over the previous quarter, primarily due to higher income from operations and lower net interest expense.
