Equinix Q4 AFFO Misses at $8.91 as Interconnections Exceed 500,000
Equinix reported fourth-quarter AFFO per share of $8.91, missing the $9.07 consensus but rising 12.5% year over year. Recurring revenues climbed on strong digital infrastructure demand, total interconnections surpassed 500,000 and the company increased its dividend.
1. Q4 AFFO Performance
Equinix delivered AFFO per share of $8.91 in Q4 2025, a 12.5% year-over-year gain but $0.16 below the consensus estimate, reflecting elevated operating expenses that weighed on margins.
2. Recurring Revenue Growth
Recurring revenue rose driven by heightened demand for digital infrastructure and expanded service offerings across key markets, sustaining the REIT’s top-line momentum.
3. Interconnection Milestone
The company surpassed 500,000 total interconnections in the quarter, underscoring robust network connectivity growth and cross-service adoption among global customers.
4. Dividend Increase
The board approved an increase to the quarterly dividend, signaling confidence in cash flow stability and long-term distribution capacity.