Equinix‘s Q1 results topped $643.2 million, a 1% increase over the previous quarter and an 11% increase over the same period last year.
The company said colocation, interconnection and managed services were responsible for $609.7 million of revenues, while non-recurring revenues topped $33.5 million in Q1.
Equinix added that net income was $76.5 million for the first quarter, representing $1.35 per share attributable to the company based on a weighted average share count of $56.7 million.
The report showed income from operations rose 18% compared to the last quarter to $151.4 million, a 25% increase over 2014’s Q1.
Cost of revenues decreased 5% to $298.3 million compared to the previous quarter.
Steve Smith, CEO of Equinix, said: "This is our first quarter both operating and reporting as a REIT and we believe the fundamentals of our business are attractive both to our traditional investor base and the REIT investor community, including our global portfolio of assets, the attractive asset growth and our long history of success with our new development."
As of March 31, 2015, the company’s cash, cash equivalents and investments were $1,069.7 million, as compared to $1,140.8 million on December 31, 2014.