Data center major Equinix on Wednesday said it would invest around $210 million towards capital spending (Capex) in the fourth quarter of 2013.
Q4 Capex would include approximately $50.0 million of ongoing capital expenditures and $140.0 to $160.0 million of expansion capital expenditures.
Capital expenditures for 2013 are expected to be in the range of $560.0 to $580.0 million, comprised of approximately $165.0 million of ongoing capital expenditures and $395.0 to $415.0 million for expansion capital expenditures, Equinix said.
Equinix expects Q4 revenues of around $563.0 million. For the full year of 2013, total revenues are expected to range between $2,145.0 million to $2,149.0 million.
The company’s Q3 revenues rose 11 percent to $540.5 million.
Steve Smith, president and CEO of Equinix, said: “We had a number of strategic wins in our cloud vertical, including a multi-site partnership with Microsoft Azure, that leverages our unique global platform, network density, and customer base to enable the hybrid-cloud deployments of the future, further widening the moat around our business.”
Net income of Equinix for the third quarter was $36.6 million.
Capital expenditures for Q3 were $171.0 million.
Meanwhile, Equinix has appointed Ihab Tarazi as chief technology officer (CTO). In this role, Tarazi is responsible for Equinix International Business Exchange (IBX) network operations, platform strategy, leading the next generation technology and innovation function and contributing to the company’s cloud initiatives.
Tarazi joins Equinix from Verizon where, as vice president of Enterprise Network Services, he was responsible for product strategy, life cycle management, technology and development for Verizon Network products including IP, Ethernet and transport to support retail and wholesale customers.