Filing Flows › Equinix (EQIX) › Q3 2025
Equinix (EQIX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Equinix (EQIX) reported revenue of $2.3B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +3% from the quarter before. Operating margin was 20.5%, net earnings $374M (16.1% of revenue).
Equinix, Q3 2025: revenue $2.3B (+5% year over year), operating margin 20.5%, net earnings $374M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +3% | +5% |
| Operating profit | $474M | -4% | +12% |
| Net earnings | $374M | +2% | +26% |
| Operating cash flow | $1.0B | +7% | +34% |
What changed
Revenue was $2.3B in Q3 2025, up 5% year over year and up 3% from the previous quarter. Colocation was the largest line at 71% of revenue. Colocation added $0.12B year over year (up 8%), 102% of the total change. Non-recurring revenues declined 29%.
Operating profit was $0.47B, a 20.5% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 43% reached operating profit, above the 19% margin then. Total costs grew 4% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+57%). Net earnings were $0.37B, up 26% year over year. The effective tax rate was 6.3%.
Operating cash flow was $1.0B (up 34% year over year), 271% of net earnings. Non-cash charges added back $0.53B of depreciation and amortization and $0.13B of share-based compensation. Capital expenditures of $1.1B exceeded it, leaving free cash flow of −$0.12B.
Questions
What was Equinix's revenue in the third quarter 2025?
Equinix (EQIX) reported revenue of $2.3B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +3% from the quarter before.
Was Equinix profitable in the third quarter 2025?
Operating profit was $474M (20.5% of revenue) and net earnings $374M.
Source: Equinix 10-Q on SEC EDGAR.