Why Equinix Stock Sagged on Thursday
Data center specialist Equinix's (NASDAQ: EQIX) stock had a forgettable session on Thursday. The shares ended the day more than 1% lower, on the back of quarterly earnings that didn't entirely meet analyst expectations. Contrasting the stock's decline was the path of the S&P 500 (SNPINDEX: ^GSPC), which rose at essentially the same percentage rate.Equinix released its fourth-quarter and full-year 2024 figures just after market close Wednesday. These showed that the company's revenue rose by 7% year over year to $2.26 billion.Going in quite the opposite direction was the bottom line; according to generally accepted accounting principles (GAAP) standards, Equinix flipped to a loss of $14 million ($0.14 per share) from the year-ago profit of $227 million. Continue reading
Data center specialist Equinix's (NASDAQ: EQIX) stock had a forgettable session on Thursday. The shares ended the day more than 1% lower, on the back of quarterly earnings that didn't entirely meet analyst expectations. Contrasting the stock's decline was the path of the S&P 500 (SNPINDEX: ^GSPC), which rose at essentially the same percentage rate.
Equinix released its fourth-quarter and full-year 2024 figures just after market close Wednesday. These showed that the company's revenue rose by 7% year over year to $2.26 billion.
Going in quite the opposite direction was the bottom line; according to generally accepted accounting principles (GAAP) standards, Equinix flipped to a loss of $14 million ($0.14 per share) from the year-ago profit of $227 million.
