April 23, 2008 / 9:43 PM / 11 years ago

UDPATE 1-Equinix posts quarterly profit, raises 2008 outlook

(Recasts; adds details, share movement)

April 23 (Reuters) - Equinix Inc (EQIX.O), a provider of data centers and Internet exchange services, posted a surprise first-quarter profit as revenue surged 86 percent and raised its 2008 revenue outlook, sending its shares up 7 percent.

The company also forecast second-quarter revenue above Wall Street expectations.

For the first quarter, Equinix posted net income of $5.4 million, or 15 cents a share, compared with a loss of $4.5 million, or 15 cents a share, a year earlier.

Revenue rose 86 percent to $158.2 million.

Analysts expected a loss of 13 cents a share, excluding exceptional items, on revenue of $151.3 million, according to Reuters Estimates.

For 2008, the company sees revenue of $685 million to $700 million, up from its prior view of $650 million to $665 million.

Analysts were looking for revenue of $658.6 million for the year.

Equinix — whose customers include Google Inc (GOOG.O), BT Group Plc (BT.L) and AT&T Inc (T.N) — said it added 160 new customers in the first quarter, bringing the total number of customers worldwide to 1,994.

For the second quarter, the company forecast revenue of $169 million to $171 million. Analysts were expecting $159.2 million.

Equinix shares rose $5.67 to $86.95 in after-hours trading, after closing at $81.28 Wednesday on Nasdaq. (Reporting by John Tilak in Bangalore; Editing by Deepak Kannan)

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