Bearish stock to watch: Equinix Inc (NASDAQ: EQIX)

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Equinix Inc (NASDAQ: EQIX) stock lost over 1.1% in the pre-market session of Feb 13th, 2020 (Source: Google finance) post the results for the fourth quarter of FY 19. For the first quarter ending in April, Equinix expects revenue to be in the range of $1.45 billion to $1.46 billion, while the analysts surveyed by Zacks had expected revenue of $1.48 billion. For the first quarter 2020, the adjusted EBITDA is expected to be in the range of $686 and $696 million, including a $2 million foreign currency benefit when compared to the average FX rates in Q4 2019. Adjusted EBITDA also includes $4 million of integration costs related to acquisitions. Recurring capital expenditures are expected to be in the range of $19 and $29 million

Equinix has achieved its second best gross and net bookings in the fourth quarter with strong performance across all three regions (Americas, EMEA and Asia-Pacific) and strong momentum in Asia-Pacific. In 2019, Equinix had closed over 17,000 deals, which reflects the company’s tremendous scale of the company’s go-to-market engine and the differentiated nature of the Equinix value proposition. In fourth quarter, Equinix had achieved a record number of new wins across multiple verticals. The content and digital media vertical experienced record bookings on the back of Asia-Pacific and strength in the gaming, publishing and eCommerce sectors as digital transformation continues to shape this vertical. The financial services vertical has posted its third highest bookings due to capital markets providers and multinational financials as cloud adoption accelerates.

EQIX in the fourth quarter of FY 19 has reported the adjusted funds from operations per share of $5.51, while adjusted revenue of $1.42 billion in the fourth quarter of FY 19

The company expects full-year funds from operations in the range of $24.42 to $25 per share, with revenue expected to range from $6 billion to $6.05 billion, including $18 – $22 million in revenues from the Axtel acquisition. For the year, the company projects to incur $10 million in integration costs related to acquisitions. AFFO is expected to be in the range of $2.108 and $2.158 billion, which is an increase of 9 – 12% over the previous year, or a normalized and constant currency increase of 11 – 14%.

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