Equinix stock falls 2.04 percent after a USD 2.625 billion quarter

Equinix stock fell 2.04 percent to USD 1,037.66 at the Nasdaq close on September 23, 2026. The decline came as the digital infrastructure company continued to post double-digit operating growth, with Q2 2026 revenue reaching USD 2.625 billion.

Revenue growth remains double digit

According to FT.com, Equinix reported Q2 2026 revenue of USD 2.625 billion on July 29, 2026, up 16 percent from the prior year. Monthly recurring revenue increased 11 percent, giving the quarter a recurring revenue base that expanded at a slower pace than total revenue.

Annualized gross bookings rose 23 percent, while the company added a record 9,700 net interconnections during Q2 2026, according to FT.com. The combination points to continued demand for connectivity across networking, cloud and artificial intelligence infrastructure.

Q2 earnings beat the forecast

Equinix delivered Q2 earnings per share of USD 4.83 against a USD 4.67 forecast, a USD 0.16 beat, according to Investing.com. Revenue of USD 2.62 billion also exceeded the USD 2.59 billion forecast by USD 0.03 billion.

The company raised its full-year 2026 guidance and its long-term outlook, with the July 29, 2026 release highlighting demand from cloud and AI infrastructure. For investors, the key distinction is that bookings growth of 23 percent outpaced monthly recurring revenue growth of 11 percent.

Analyst target stays above the close

Rothschild and Co Redburn initiated coverage with a Buy rating and a USD 1,261 price target on September 21, 2026, according to MarketBeat. That target stood USD 223.34 above the September 23 close, while the article cited a consensus average target of USD 1,206.96.

Stock remains below its yearly high

Equinix shares closed at USD 1,037.66 on Nasdaq on September 23, 2026, with a 52-week range of USD 720.62 to USD 1,128.68. The closing level was 8.06 percent below the yearly high, while the company carried a market capitalization of USD 102.388 billion as of September 24, 2026.