Why Equinix Shares Gained 65.6% Last Year
Shares of Equinix (NASDAQ: EQIX) rose 65.6% in 2019, according to data from S&P Global Market Intelligence. The data center and networking hub operator didn't rest exclusively on any single event, but kept the pressure up with a steady stream of impressive earnings reports.
Equinix met or beat Wall Street's earnings estimates in all four of last year's earnings reports. Each report triggered a next-day share price jump between 3% and 7%, except for a smaller 1.5% increase after the third-quarter update at the end of October. As an indicator of how Equinix's business is performing, that third-quarter report showed the slowest top-line growth of any quarter in the last three years but still clocked in at a respectable 11% year-over-year increase.
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Source Fool.com
