What Tech Spending Slowdown? Demand for Data Center Capacity Remains Scorching Hot
Data center giant Equinix (NASDAQ: EQIX) has been under a lot of pressure this year. Shares of the real estate investment trust (REIT) have tumbled more than 15%, weighed down by concerns that tech spending will slow. That would likely affect demand for capacity in the company's data centers.
However, Equinix isn't seeing any signs of a slowdown in demand. That was abundantly clear in the data center REIT's second-quarter results.
Equinix reported $1.8 billion in revenue during the second quarter. That was up 10% over the prior-year period and 5% from the fourth quarter. It marked the REIT's 78th consecutive quarter of revenue growth, which it says is the longest streak of any company in the S&P 500 index.
Source Fool.com
