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Equinix 3Q profit more than triples as sales grow

Data center service provider Equinix Inc. said Wednesday its third-quarter profit more than tripled as revenue grew thanks to solid demand.
/ Source: The Associated Press

Data center service provider Equinix Inc. said Wednesday its third-quarter profit more than tripled as revenue grew thanks to solid demand.

The company earned $18.8 million, or 47 cents per share, up from a profit of $5.6 million, or 15 cents per share, in the same period a year earlier.

Revenue rose 24 percent to $227.6 million from $183.7 million.

Analysts, on average, were expecting a profit of 30 cents per share on sales of $224.1 million, according to a poll by Thomson Reuters.

For the full year, Equinix forecast sales of $875 million to $880 million. Analysts are expecting $872 million.

Separately, the company also agreed to buy Switch & Data Facilities Co. in a cash and stock deal worth about $689 million.

Shares fell $5.75, or 5.9 percent, to $93 in after-hours trading. The stock had closed down 44 cents at $97.75.