Equinix Inc (EQIX) released its first quarter results on Friday, April 30, 2021. The company reported net earnings of $1.74 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 26 percent compared to the same period a year ago.
With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value. Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
Equinix's revenue increased 10 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 49.17% for the first quarter compared to the same period in the previous year, and operating margins decreased to 18.76% over the same period. Net earnings for past trailing twelve months were $407.35 million, down 20% from the prior year.
Moving on to the balance sheet, Equinix's cash levels jumped 49% for the first quarter over the same period last year. The company increased shares outstanding by 4.48%.
Shares of EQIX are currently trading around $720.76. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 157.72 and price to book ratio of 6.12.