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Equinix logs FFO declines in Q1 on acquisition costs

on May 4reported a roughly 5% decline in first-quarter AFFO year over year, due in partto acquisition costs.

First-quarter AFFO came to $209.8 million, or $2.98 per share,compared to $221.8 million, or $3.77 per share, in the 2015 quarter.

AFFO for the first quarter includes a foreign-currency exchangeloss of $63.5 million, which the company attributed primarily to the TelecityGroupplc acquisition and $13.3million of integration costs.

FFO for the quarter totaled $115.9 million, or $1.68 per share,compared to $179.2 million, or $3.09 per share, in the year-ago quarter.

The S&P Global consensus AFFO- and FFO-per-share estimatesfor the first quarter were $3.32 and $2.25, respectively.

Looking ahead, the company forecasts AFFO for 2016 to be morethan $1.02 billion. The figure includes integration costs and $63.5 million foreigncurrency loss related to the Telecity acquisition.