logo     Print Page | Close Window

SEC Filings

10-Q
EQUINIX INC filed this Form 10-Q on 05/03/2019
Entire Document
 

Three Months Ended March 31, 2019 and 2018
Revenues. Our revenues for the three months ended March 31, 2019 and 2018 were generated from the following revenue classifications and geographic regions (dollars in thousands):
 
Three Months Ended March 31,
 
% Change
 
2019
 
%
 
2018
 
%
 
Actual
 
Constant
Currency (1)
Americas:
 
 
 
 
 
 
 
 
 
 
 
Recurring revenues
$
606,310

 
44
%
 
$
575,992

 
48
%
 
5
%
 
7
%
Non-recurring revenues
38,056

 
3
%
 
26,635

 
2
%
 
43
%
 
44
%
 
644,366

 
47
%
 
602,627

 
50
%
 
7
%
 
8
%
EMEA:
 
 
 
 
 
 
 
 
 
 
 
Recurring revenues
400,237

 
29
%
 
355,490

 
29
%
 
13
%
 
21
%
Non-recurring revenues
34,423

 
3
%
 
24,140

 
2
%
 
43
%
 
54
%
 
434,660

 
32
%
 
379,630

 
31
%
 
14
%
 
23
%
Asia-Pacific:
 
 
 
 
 
 
 
 
 
 
 
Recurring revenues
268,281

 
20
%
 
219,147

 
18
%
 
22
%
 
26
%
Non-recurring revenues
15,911

 
1
%
 
14,473

 
1
%
 
10
%
 
14
%
 
284,192

 
21
%
 
233,620

 
19
%
 
22
%
 
25
%
Total:
 
 
 
 
 
 
 
 
 
 
 
Recurring revenues
1,274,828

 
93
%
 
1,150,629

 
95
%
 
11
%
 
15
%
Non-recurring revenues
88,390

 
7
%
 
65,248

 
5
%
 
35
%
 
41
%
 
$
1,363,218

 
100
%
 
$
1,215,877

 
100
%
 
12
%
 
16
%
 
(1) 
As defined in the "Non-GAAP Financial Measures" section in Item 2 of this Quarterly Report on Form 10-Q.
Americas Revenues. As compared to the three months ended March 31, 2018, revenues for our Americas region for the three months ended March 31, 2019 included approximately $10.6 million of incremental revenues from the Infomart Dallas Acquisition, which closed in April 2018. Excluding revenues attributable to the Infomart Dallas Acquisition, our Americas revenue growth was primarily due to (i) approximately $18.8 million of revenues generated from our recently-opened IBX data centers or IBX data center expansions in the Dallas, Washington, D.C., Miami, São Paulo, Culpepper, Houston, Seattle and Silicon Valley metro areas and (ii) an increase in orders from both our existing customers and new customers during the period. During the three months ended March 31, 2019, foreign currency fluctuations resulted in approximately $7.5 million of unfavorable foreign currency impact to our Americas revenues primarily due to a generally stronger U.S. Dollar relative to the Brazilian Real during the three months ended March 31, 2019 compared to the three months ended March 31, 2018.
EMEA Revenues. Our EMEA revenue growth was primarily due to (i) approximately $28.5 million of revenues from our recently-opened IBX data centers or IBX data center expansions in the Amsterdam, Frankfurt, London and Paris metro areas and (ii) an increase in orders from both our existing customers and new customers during the period. During the three months ended March 31, 2019, foreign currency fluctuations resulted in approximately $33.1 million of unfavorable foreign currency impact to our EMEA revenues primarily due to a generally stronger U.S. Dollar relative to the Euro and British Pound during the three months ended March 31, 2019 compared to the three months ended March 31, 2018. The foreign currency impact to EMEA revenues was partially offset by realized cash flow hedge gains.
Asia-Pacific Revenues. Revenues for our Asia-Pacific region for the three months ended March 31, 2019 included approximately $16.6 million of incremental revenues attributable to the Metronode Acquisition, which closed in April 2018. Excluding revenues attributable to the Metronode Acquisition, our Asia-Pacific revenue growth was primarily due to (i) approximately $15.4 million of revenue generated from our recently-opened IBX data center expansions in the Hong Kong, Melbourne and Singapore metro areas and (ii) an increase in orders from both our existing customers and new customers during the period. During the three months ended March 31, 2019, foreign currency fluctuations resulted in approximately $8.2 million of net unfavorable foreign currency impact to our Asia-Pacific revenues primarily due to a generally stronger U.S. Dollar relative to the Australian Dollar and Singapore Dollar during the three months ended March 31, 2019 compared to the three months ended March 31, 2018.

35