Equinix (EQIX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Equinix published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Equinix reports EPS two ways: GAAP, under the accounting rules every US filer follows, and AFFO per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Equinix is a REIT. Revenues here are the line Equinix calls "Revenues" (recurring plus non-recurring), and the adjusted figure is AFFO per diluted share, the REIT measure Equinix reports beside GAAP EPS.
• Q3 2026 net income and AFFO include a non-recurring fee earned in connection with Equinix's investment in the atNorth joint venture, which closed on September 2, 2026.

Source: Equinix Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Equinix splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Equinix's Americas revenue was $1.1 billion in Q3 2026, up 11% from $1.0 billion in Q3 2025, 45% of total revenue.
• Equinix's EMEA revenue was $878 million in Q3 2026, up 12% from $784 million in Q3 2025, 34% of total revenue.
• Equinix's Asia-Pacific revenue was $545 million in Q3 2026, up 10% from $497 million in Q3 2025, 21% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Equinix said:

“For the fourth quarter of 2026, the company expects revenues to range between $2.684 and $2.724 billion, an increase of 11-13% over the previous year on an as-reported basis, or 12-13% on a normalized and constant currency basis.”

“For the full year of 2026, total revenues are expected to range between $10.325 and $10.365 billion, an increase of approximately 12% over the previous year on both an as-reported and a normalized and constant currency basis.”

“AFFO per share is expected to range between $43.71 and $44.11, an increase of 14-15% over the previous year on an as-reported basis, or 11-12% on a normalized and constant currency basis.”

“Total capital expenditures are expected to range between $5 and $6 billion.”

Source: Equinix Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the EQIX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenues and GAAP diluted EPS, each as first reported in that quarter's release. AFFO per diluted share in the same quarters was $11.78, $10.79, $8.91 and $9.83.

We do not hold a confirmed date for Equinix's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Equinix reported revenues of $2,571 million in Q3 2026, up 11% from $2,316 million, or 12% on a normalized and constant currency basis. Recurring revenues were $2,442 million, 95% of the total, and non-recurring revenues, mainly installation fees and professional services including work for its joint ventures, were $129 million. (Equinix Q3 2026 release, Oct 28, 2026; Equinix Form 10-Q, Q3 2026, Oct 28, 2026)

Colocation, renting space and power in Equinix's IBX data centers, is the largest line at $1,826 million worldwide. Interconnection, the cross-connects and Fabric services that link customers inside and between sites, brought in $465 million, up 10%, managed infrastructure $108 million and other $43 million. Equinix said Fabric revenue grew 24%. (Equinix Q3 2026 release, Oct 28, 2026)

By region, Americas revenues rose $113 million, or 11%, to $1,148 million, EMEA rose $94 million, or 12%, to $878 million and Asia-Pacific rose $48 million, or 10%, to $545 million. In each region Equinix credits new capacity, with about $54 million, $30 million and $17 million of revenue from IBX expansion projects completed in the past twelve months, plus orders from existing and new customers. (Equinix Form 10-Q, Q3 2026, Oct 28, 2026; Equinix Q3 2026 release, Oct 28, 2026)

The customer base is spread out. Equinix's largest customer accounted for approximately 2% of recurring revenues in the quarter and its 50 largest for approximately 35%. At the end of 2025 its footprint spanned 280 data centers in 77 markets in 36 countries, including 23 xScale data centers held in joint ventures for hyperscale customers. (Equinix Form 10-Q, Q3 2026, Oct 28, 2026; Equinix Form 10-K, 2025, Feb 11, 2026)

Equinix's GAAP diluted EPS was $4.93 in Q3 2026, up 29% from $3.81, on net income attributable to common stockholders of $489 million. Equinix said the increase came primarily from higher operating income, which rose 27% to $600 million, and a non-recurring fee earned in connection with its investment in the atNorth joint venture. Other income was $54 million, against nil a year earlier. (Equinix Q3 2026 release, Oct 28, 2026)

As a REIT, Equinix measures itself on AFFO, which adds back real estate depreciation, stock-based compensation ($141 million in the quarter) and other non-cash items and subtracts recurring capital expenditures. AFFO was $1,156 million and AFFO per diluted share $11.64, up 18% as reported, or 12% on a normalized and constant currency basis excluding the atNorth fee. FFO per diluted share was $8.64. (Equinix Q3 2026 release, Oct 28, 2026)

Interest expense rose to $163 million from $128 million as senior notes principal grew to $22,820 million from $18,359 million at the end of 2025. Diluted weighted-average shares were 99,277 thousand, against 98,174 thousand, and Equinix declared a quarterly dividend of $5.16 per share on October 28, 2026. (Equinix Q3 2026 release, Oct 28, 2026; Equinix Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Equinix guides revenue, adjusted EBITDA and AFFO in each release, and raised full-year 2026 guidance for the third consecutive quarter. It now expects 2026 revenues of $10.325 to $10.365 billion, adjusted EBITDA of $5.290 to $5.330 billion (a margin of approximately 51%) and AFFO per share of $43.71 to $44.11, against a prior range of $42.69 to $43.29. (Equinix Q3 2026 release, Oct 28, 2026)

For Q4 2026 Equinix expects revenues of $2.684 to $2.724 billion and adjusted EBITDA of $1.328 to $1.368 billion. It does not guide GAAP EPS, and says it cannot reconcile forward non-GAAP figures without unreasonable effort because it does not forecast depreciation, stock-based compensation and other items. (Equinix Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Equinix, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Equinix's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning EQIX is on is EQIX a buy or a sell?, what analysts expect next is on the EQIX forecast, and what the company does is on the Equinix (EQIX) stock page.

Every number on this page can be traced to a document Equinix published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.