Equinix expects to deliver nearly 40% more cabinets in 2026 than it originally planned, after annualised gross bookings reached a record $533 million in the September quarter. The data-centre operator reported the figures on 28 October; bookings rose 35% from a year earlier.[1]
Quarterly revenue reached $2.571 billion, up 11% as reported, across a business serving both traditional and AI workloads. Its full-year revenue forecast is now $10.325–10.365 billion. The midpoint is $100 million above the previous range: the company attributes $84 million to underlying improvement and $16 million to currency movements.[1]
From orders to occupied cabinets
Chief executive Adaire Fox-Martin explained on the earnings call that the bookings measure covers orders expected to convert into revenue within 90 days. It excludes longer-dated pre-sales. The atNorth joint-venture investment was also outside those booking figures, finance chief Olivier Leonetti said.[2]
The physical mix is changing. Departing customers averaged 5 kilowatts per cabinet, while incoming customers averaged 7, which Leonetti linked to AI workloads. Pricing on new deals increased 12% year on year. More power and higher prices can therefore increase revenue without a matching increase in cabinet count.[2]
Connections between customers and networks provide another source of growth: interconnection revenue rose 10%, while the Fabric connectivity service grew 24%. Both figures cover the services as a whole.[1]
The next delivery test comes in the fourth quarter. Equinix expects to add more than 13,000 cabinets, with over 20% already pre-sold. It also said 15% of the retail capacity scheduled for 2027 had been pre-sold.[2]
Sources & further reading
- Equinix Reports Third-Quarter Results and Raises 2026 Guidance Equinix · 28 Oct 2026 · Accessed 29 Oct 2026
- Q3 2026 earnings-call transcript Equinix / Stock Analysis · 28 Oct 2026 · Accessed 29 Oct 2026