Equinix — Oct 29, 2025 release

For the full year of 2025, total revenues are expected to range between $9.208 and $9.328 billion, an as-reported increase of approximately 5 - 7% over the previous year, or a normalized and constant currency increase of approximately 7 - 8%. This updated guidance maintains prior full-year revenue guidance, offset by a $15 million negative foreign currency impact when compared to the prior guidance rates. Adjusted EBITDA is expected to range between $4.531 and $4.611 billion, reflecting an adjusted EBITDA margin of 49%, an approximate 250 basis-point expansion over the previous year. This updated guidance includes an underlying raise of $21 million from better-than-expected business performance, partially offset by a $7 million negative foreign currency impact when compared to prior guidance. AFFO 5 is expected to range between $3.731 and $3.811 billion, an increase of 11 - 14% over the previous year on an as-reported basis, or 11 - 13% on a normalized and constant currency basis. This updated guidance includes an underlying raise of $31 million from better-than-expected business performance and strong balance sheet management, partially offset by a $3 million negative foreign currency impact when compared to prior guidance rates. AFFO per share is expected to range between $37.95 and $38.77, an 8 - 11% as-reported increase over the previous year, or 8 - 10% on a normalized and constant currency basis. Total capital e