Filing Flows › Equinix (EQIX) › Q2 2026 › vs Q2 2025
Equinix (EQIX) Q2 2026 vs Q2 2025 (year over year)
Equinix's revenue rose $369M (+16%) from $2.3B in Q2 2025 to $2.6B in Q2 2026. The biggest changes: Recurring revenues +$234M (+11%); Non-recurring revenues +$135M (+119%). Operating margin 25.3% against 21.9% (+3.4 pts).
Equinix, Q2 2026: revenue $2.6B (+16% year over year), operating margin 25.3%, net earnings $477M, operating cash flow $1.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 25.3% | 21.9% | +3.4 pts |
| Net margin | 18.2% | 16.3% | +1.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Colocation | $1.8B | $1.6B | $187M | +12% |
| Interconnection | $453M | $407M | $46.0M | +11% |
| Managed infrastructure | $112M | $117M | −$5.0M | -4% |
| Other | $40.0M | $34.0M | $6.0M | +18% |
| Recurring revenues | $2.4B | $2.1B | $234M | +11% |
| Non-recurring revenues | $248M | $113M | $135M | +119% |
| Revenue | $2.6B | $2.3B | $369M | +16% |
| Operating profit | $665M | $494M | $171M | +35% |
| Costs & expenses | $2.0B | $1.8B | $198M | +11% |
| Pre-tax earnings | $523M | $405M | $118M | +29% |
| Other expense, net | $142M | $89.0M | $53.0M | +60% |
| Cost of revenue | $1.2B | $1.1B | $146M | +13% |
| Sales & marketing | $239M | $221M | $18.0M | +8% |
| General & admin | $462M | $451M | $11.0M | +2% |
| Other operating costs | $29.0M | $6.0M | $23.0M | +383% |
| Net earnings | $477M | $367M | $110M | +30% |
| Income tax | $46.0M | $38.0M | $8.0M | +21% |
| Depreciation & amortization | $551M | $499M | $52.0M | +10% |
| Share-based compensation | $145M | $127M | $18.0M | +14% |
| Working capital & other | $106M | $49.0M | $57.0M | +116% |
| Operating cash flow | $1.1B | $944M | $123M | +13% |
| Capital expenditures | $1.6B | $989M | $589M | +60% |
| Negative free cash flow (OCF − capex) | $511M | $45.0M | $466M | 11× |
Questions
How much did Equinix's revenue grow year over year in Q2 2026?
Equinix's revenue rose $369M (+16%) from $2.3B in Q2 2025 to $2.6B in Q2 2026.
What drove Equinix's revenue change in Q2 2026?
Recurring revenues +$234M (+11%); Non-recurring revenues +$135M (+119%).