February 11, 2009 / 10:01 PM / 10 years ago

UPDATE 2-Equinix posts Q4 profit, cuts 2009 revenue view

* Posts Q4 profit vs loss, in the year-ago period

* Q4 revenue in line with Street

* Sees Q1 rev $198-$200 mln vs est. $200.7 mln

* Cuts 2009 rev outlook

* Shares down 3 percent (Adds details from conference call; updates share movement)

Feb 11 (Reuters) - Equinix Inc (EQIX.O), a provider of data centers and Internet exchange services, posted a fourth-quarter profit, helped by a 39 percent rise in recurring revenue, but cut its 2009 outlook, sending its shares down 2 percent.

“We remain realistic about the poor state of the economy with flexibility in 2009 that includes a reduced level of bookings expectations,” Chief Executive Steve Smith said in a conference call.

But he said the company is still targeting $1 billion of revenue for 2010. For the fourth-quarter, net income was $116.5 million, or $2.74 a share, compared with a net loss of $6.1 million, or 17 cents a share, a year earlier.

Revenue rose 37 percent to $190.7 million, in line with analysts estimates. Recurring revenue was up at $182.8 million.

Equinix, whose customers include Google Inc (GOOG.O), BT Group Plc (BT.L) and AT&T Inc (T.N), added 110 new customers in the quarter, bringing the total number of its customers worldwide to 2,272.

For 2009, the company cut its revenue outlook to $855 million to $875 million, compared with its prior outlook of $870 million to $892 million.

Shares of Equinix, which competes with Savvis Inc SVVS.O and Britain’s Telecity Group TCY.L, was down at $56.30 in after-hours trading. They closed at $58.10 Wednesday on Nasdaq. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Pratish Narayanan)

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