REDWOOD CITY, Calif. (AP) _ Equinix Inc. (EQIX) on Wednesday reported a key measure of profitability in its fourth quarter. The results missed Wall Street expectations.
The Redwood City, California-based real estate investment trust said it had funds from operations of $564.2 million, or $6.22 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $6.27 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 $123.3 million, or $1.36 per share.
The data center operator, based in Redwood City, California, posted revenue of $1.71 billion in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $1.7 billion.
For the year, the company reported funds from operations of $2.45 billion. Revenue was reported as $6.64 billion.
Equinix expects full-year funds from operations in the range of $28.87 to $29.20 per share, with revenue in the range of $7.2 billion to $7.25 billion.
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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