Filing Flows › Equinix (EQIX) › Q2 2025
Equinix (EQIX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Equinix (EQIX) reported revenue of $2.3B for the second quarter 2025 (Q2 2025), +4% from a year earlier and +1% from the quarter before. Operating margin was 21.9%, net earnings $367M (16.3% of revenue).
Equinix, Q2 2025: revenue $2.3B (+4% year over year), operating margin 21.9%, net earnings $367M, operating cash flow $944M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +1% | +4% |
| Operating profit | $494M | +8% | +13% |
| Net earnings | $367M | +7% | +22% |
| Operating cash flow | $944M | +17% | +4% |
What changed
Revenue was $2.3B in Q2 2025, up 4% year over year and up 1% from the previous quarter. Colocation was the largest line at 70% of revenue. Colocation added $0.09B year over year (up 6%), 88% of the total change. Non-recurring revenues declined 16%.
Operating profit was $0.49B, a 21.9% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 60% reached operating profit, above the 20% margin then. Total costs grew 2% against revenue growth of 4%. Net earnings were $0.37B, up 22% year over year. The effective tax rate was 9.4%.
Operating cash flow was $0.94B (up 4% year over year), 257% of net earnings. Non-cash charges added back $0.50B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items used $0.05B. Capital expenditures of $1.0B exceeded it, leaving free cash flow of −$0.04B.
Questions
What was Equinix's revenue in the second quarter 2025?
Equinix (EQIX) reported revenue of $2.3B for the second quarter 2025 (Q2 2025), +4% from a year earlier and +1% from the quarter before.
Was Equinix profitable in the second quarter 2025?
Operating profit was $494M (21.9% of revenue) and net earnings $367M.
Source: Equinix 10-Q on SEC EDGAR.