Equinix, Inc. reported strong financial performance and sustained customer momentum for the second quarter ended June 30, 2025. The company's robust results led to a further upward revision of its full-year 2025 guidance across all key financial metrics, reflecting confidence in its strategic execution and market opportunities. CEO Adaire Fox-Martin highlighted the strength of Equinix's distinct and resilient market position.
The revised full-year 2025 total revenues are now expected to range between $9.233 billion and $9.333 billion, an as-reported increase of 6-7% over the previous year. Adjusted EBITDA guidance was also increased to a range of $4.517 billion and $4.597 billion, reflecting an approximate 230 basis-point expansion over the previous year's margin. These revisions were primarily driven by better-than-expected Q2 operating performance and favorable foreign currency benefits.
Adjusted Funds From Operations (AFFO) for the full year 2025 are now projected to be between $3.703 billion and $3.783 billion, with AFFO per share expected to range from $37.67 to $38.48. Total capital expenditures for 2025 were also increased to a range of $3.792 billion to $4.292 billion, which includes approximately $450 million of on-balance-sheet xScale-related spend expected to be reimbursed later in the year. This continued investment supports future growth and captures market opportunities.
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