Equinix Grows Revenue, Buys Land, With 3 GW Of Capacity Now Under Development

‘We were built for this moment, and I am confident we will continue to make the very most of this opportunity in regard to both long-term growth and long-term value creation for our shareholders,’ Equinix CEO Adaire Fox-Martin told investors on the company’s third-quarter earnings call.

Equinix is on track to double its power capacity by 2029 with 3 GW now under development and plans to add more, CEO Adaire Fox-Martin (pictured) told investors during the company’s third-quarter earnings call.

In the third quarter, Equinix revenue grew 5 percent year over year, rising to $2.31 billion as it closed more than 4,400 deals with 3,400 customers. The company earned net income of $374 million for diluted earnings per share of $3.81.

“Our intent is to continue to build on the outcomes that defines this quarter: greater capacity, increased revenue and improved profitability, and accelerate them as our strategy achieves even greater traction,” she said. “We were built for this moment, and I am confident we will continue to make the very most of this opportunity in regard to both long-term growth and long-term value creation for our shareholders.”

Fox-Martin noted that demand was growing, and the company saw wins with Hyundai and agentic AI developer Zetaris Modern Lakehouse for AI.

During the quarter ended Sept. 30, Equinix bought land in what it called high-demand data center markets: Amsterdam, London, Chicago, Toronto, and Johannesburg, South Africa. In total, it plans to add 900 MW of data center capacity within those regions as the data center space continues to boom.

“This brings our total buildable capacity to approximately 3 gigawatts, a nearly 50 percent increase from last quarter,” Fox-Martin told investors.

Since the company’s July earnings call, Fox-Martin said the company has added seven new data center projects, bringing the total projects underway to 58 globally. It recently added Dallas 12, a 67-MW project with 3,700 cabinets.

Equinix also recently extended its sales window for booking data center capacity and now allows sales teams to lease capacity 12 months in advance, up from three to six months in advance.

“This presales opportunity is something that gives our sales team critical capacity to sell into, and it actually is a degree of comfort for our customers because it enables our customers to know where their deployment will be placed when they need them,” Fox- Martin told analysts when questioned about the new sales motion. “And I think you know, in the overall macro environment with demand continuing to outpace supply, we actually have seen the velocity of presales increase over the course of 2025.”

The company plans to double its total data center capacity by 2029. Equinix now has more than 10,000 customers inside 268 data centers across 35 countries, the company reported in its annual report. It does not report its total electrical capacity; however, its annual report disclosed a data center portfolio of 371,400 cabinets globally, with 75 percent to 81 percent currently in use, depending on the geography.

Equinix is guiding toward $2.41 billion to $2.53 billion for the fourth quarter with expected annual revenue of $9.20 billion to $9.32 billion. The guidance is slightly lower than the $9.23 billion to $9.33 billion in annual revenue it expected in July, due to foreign currency exchange rates, the company said.

Fox-Martin said the company has already achieved 40 percent of its fourth-quarter bookings.

“We are focused on executing against our Q4 expectations and building our momentum for 2026, and we are very much on track on those accounts,” Fox-Martin said.