Equinix Inc (NASDAQ:EQIX) stock rose 3.10% (As on Feb 17, 11:23:42 AM UTC-4, Source: Google Finance) after the company’s earnings totaled $123.27 million in the fourth quarter of FY 21, compared with $50.99 million, in last year’s fourth quarter. Equinix has continued the growth of its indirect selling initiatives, with channel sales delivering a record quarter to close the year, accounting for 40% of Q4 bookings and nearly 60% of new logos in the quarter. Wins were across a wide range of industry verticals and use cases, with continued strength from strategic partners including AT&T, Cisco, Dell, Google and Microsoft.

EQIX in the fourth quarter of FY 21 has reported the adjusted earnings per share of $6.22, beating the analysts’ estimates for the adjusted earnings per share of $1.41, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 9.6 percent to $1.71 billion in the fourth quarter of FY 21.

For fiscal 2022, the company expects revenues to be in the range of $7.202 – $7.252 billion, a 9% increase over the previous year or a normalized and constant currency increase of 9 – 10%, Adjusted EBITDA is expected to be in the range of $3.307 – $3.337 billion, which implies a 46% adjusted EBITDA margin. AFFO is expected to be in the range of $2.646 – $2.676 billion, an increase of 8 – 9% over the previous year or a normalized and constant currency increase of 8 – 10% and AFFO per Share is expected to be in the range of $28.87 – $29.20 per share, an increase of 6 – 8% over the previous year or a normalized and constant currency increase of 7 – 8%.

On the other hand, In December, Equinix announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider with operations in Nigeria, Ghana and Côte d’Ivoire. In October, Equinix announced an agreement to form a new $575 million joint venture with PGIM Real Estate to extend its xScale data center program into Australia, and in January Equinix announced the signing of an agreement to form a $525 million joint venture with GIC to develop and operate two xScale data centers in Seoul, Korea. These new joint ventures will bring the global xScale data center portfolio to more than $8 billion across 36 facilities when fully built out.