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Equinix Inc. (EQIX-0.47%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing details the company's financial performance, including total revenues of $8.748 billion, an increase from $8.188 billion in the previous year. The growth was attributed to increased demand for colocation and interconnection services.
Equinix reported a net income of $814 million, down from $969 million in 2023. The decrease was primarily due to higher operating expenses, including restructuring and impairment charges.
The company disclosed that it had completed several strategic initiatives, including the sale of the Silicon Valley 12 data center and the formation of new joint ventures to expand its xScale data center offerings.
Equinix continues to operate as a REIT for federal income tax purposes, which allows it to deduct dividends paid to stockholders from its taxable income.
The filing highlights the company's ongoing investments in expanding its data center footprint, with several projects under construction across the Americas, EMEA, and Asia-Pacific regions.
Equinix reported total assets of $35.085 billion and total liabilities of $21.533 billion as of December 31, 2024. The company's cash and cash equivalents totaled $3.081 billion.
The company raised $1.673 billion through its ATM program and issued senior notes totaling $2.768 billion during the year to support its growth initiatives.
Equinix identified several risk factors, including geopolitical events, cybersecurity threats, and regulatory changes, which could impact its business operations and financial performance.
The company emphasized its commitment to sustainability, with goals to achieve 100% renewable energy coverage and reduce greenhouse gas emissions across its global operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Equinix Inc. annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.