The company's shares climbed 14 percent before its scheduled earnings report Thursday.

Like three other data center REITs, Equinix is cautiously forecasting a strong rest of 2020.

Amazon, Google and Microsoft—the top public cloud providers—are all benefiting from organizations of all sizes looking to the cloud for business continuity during the global pandemic.

CoreSite, CyrusOne, and QTS had a successful leasing quarter, but the lockdowns didn’t start until late in the period.

Pandemic-related supply chain disruption in China meant the company couldn't expand data centers as much as planned, leading to some Azure and Office capacity shortages.

First-quarter server chip shipments tripled from a year ago, but revenue for the division that makes them fell 21%, hurt by declining demand for custom Xbox and PlayStation chips.

The REIT reports minimal pandemic-related impact to business, but warns that things could change.

Expects data center division to benefit from continued cloud-provider business accompanied by slowdown in enterprise sales

“For the next few months, we have to be focused on the stability of the business and be sure we preserve our liquidity and balance sheet.”

The outlay is equivalent to about half its entire fiscal 2019 revenue.