AI Market · Forecast desk · miss · networking
71% · miss
The largest colocation operators' Q2 prints (starting July 29) show interconnect/fabric revenue growth again outpacing overall revenue growth, sustaining the Metcalfe read for a second consecutive quarter.
Outcome
Equinix Q2 FY26 — the largest operator's Jul 29 print — grew interconnection revenue 11.3% YoY versus total revenue up 16.4%; interconnect did not outpace overall growth, and no other major operator's Q2 filing showed fabric/interconnect beating total revenue either.
Evidence: https://www.sec.gov/Archives/edgar/data/1101239/000110123926000145/a991eqix-q226xpr.htm