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Equinix profit misses estimates
April 24, 2013 / 8:17 PM / 5 years ago

Equinix profit misses estimates

April 24 (Reuters) - Equinix Inc posted a first-quarter profit well below analysts’ expectations as its cost of sales jumped 19 percent, and the data center operator forecast weaker-than-expected second-quarter revenue, sending its shares down 7.5 percent.

Net income rose to $35.9 million, or 71 cents per share, in the first quarter from $34.5 million, or 71 cents per share, a year earlier.

Revenue rose 17 percent to $519.5 million.

Analysts on average had expected an adjusted profit of 78 cents per share on revenue of $521.8 million, according to Thomson Reuters I/B/E/S.

Shares of the company fell to $203 in extended trading.

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