REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its fourth quarter. The results fell short of Wall Street expectations.
The Redwood City, California-based real estate investment trust said it had funds from operations of $877 million, or $8.91 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $9.07 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $265 million, or $2.69 per share.
The data center operator, based in Redwood City, California, posted revenue of $2.42 billion in the period, also missing Street forecasts. Nine analysts surveyed by Zacks expected $2.47 billion.
For the year, the company reported funds from operations of $3.76 billion. Revenue was reported as $9.22 billion.
For the current quarter ending in March, Equinix said it expects revenue in the range of $2.5 billion to $2.54 billion.
The company expects full-year funds from operations in the range of $41.93 to $42.74 per share, with revenue ranging from $10.12 billion to $10.22 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EQIX at https://www.zacks.com/ap/EQIX
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