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TheStreet Open House

Equinix Management Discusses Q2 2012 Results - Earnings Call Transcript

In addition, we will provide non-GAAP measures on today's conference call. We will provide a reconciliation of those measures to the most directly comparable GAAP measures and a list of the reasons why the company uses these measures in today's press release on the Equinix Investor Relations page at www.equinix.com.

We would also like to remind you that we post important information about Equinix on the Investor Relations page of our website. We encourage you to check our website regularly for the most current available information.

With us today are Steve Smith, Equinix's CEO and President; Keith Taylor, Chief Financial Officer; and Charles Meyers, President of the Americas. Following our prepared remarks, we'll be taking questions from sell-side analysts. In the interest of wrapping this call in an hour, we would like to ask these analysts to limit any follow-on questions to just one. At this time, I'll turn the call over to Steve.

Stephen M. Smith

Thank you, Katrina. And good afternoon, and welcome to our second quarter earnings call. I'm pleased to report that Equinix delivered another quarter of strong financial results, and we made solid progress against our operating goals in the first half of 2012.

As shown on Slide 3, revenues were $466.3 million, up 3% quarter-over-quarter and 18% over the same quarter last year. Adjusted EBITDA was $222.1 million for the quarter, up 22% over the same quarter last year. Our results demonstrate our focus on disciplined execution, striking an appropriate balance between revenue growth, margin expansion and attractive returns on invested capital. We are executing on our strategy of building network density in key metros, deepening our ecosystems and interconnection across our 5 verticals and expanding our global reach.

Our global platform continues to be a unique competitive advantage for Equinix. Today, 58% of our revenue comes from customers deployed across multiple regions, and revenues from companies who are deployed in all 3 regions increased by 34% over the last year.

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