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UPDATE 1-Equinix posts higher Q1 profit

Wed Apr 22, 2009 6:17pm EDT

Stocks

   

* Q1 EPS $0.40 vs $0.10 last year

* Revenue $199.2 mln vs est $198.8 mln

* Sees Q2 rev $206.0 mln-$210.0 mln vs est $209.7 mln

April 22 (Reuters) - Equinix Inc (EQIX.O), a provider of data centers and Internet exchanges, posted a higher quarterly profit as increasing global Internet traffic drew telecom carriers and content providers to its services.

The company posted first-quarter net income of $15.5 million, or 40 cents a share, compared with $3.8 million, or 10 cents a share, a year ago.

It recorded income tax expense of $11.6 million for the period.

Adjusted earnings from operations before interest, depreciation, amortization, accretion, stock-based compensation expense and restructuring charges for the quarter was $91.4 million.

According to Reuters Estimates, the company earned 48 cents a share, excluding items, while analysts were looking for 17 cents a share.

Analysts were expecting EBITDA of $86.1 million.

Revenue for the quarter rose 26 percent to $199.2 million.

For the second quarter, the company expects revenue of $206.0 to $210.0 million, the mid point of which came in below analysts' estimates of $209.7 million.

Shares of the company closed at $62.26 Wednesday on Nasdaq.

For the alerts, please click [ID:nWNAB6422] (Reporting by Mansi Dutta in Bangalore; Editing by Anne Pallivathuckal)



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