Question-and-Answer Session
Operator
Your first question comes from Chris Larsen - Piper Jaffray.
Chris Larsen - Piper Jaffray
A couple of questions Keith, obviously you did that Big Cap raise and now your CapEx guidance is still sort of within or definitely within the original guidance you said, your EBITDA is exceeding your CapEx. Was this cap raise done really just to give yourselves more cash in terms of comfort zone? Or can we expect some more new facility builds within that.
Secondly, it doesn’t seem from any of your numbers, but I’d love to see if there’s something below the trend, anything incrementally worse from customers? I mean DSOs were up two days sequentially, but they’re actually down four days year-on-year. I mean, are we seeing anything that suggest and the health of any of your customers has gone any incrementally worse? Then, have you seen any churn from that large customer yet or will that all be in the third quarter? Thanks.
Keith Taylor
I think to deal with your first question first, certainly we raised the cap 01. We felt it was a very opportunistic sign to raise capital. So from our perspective that was clearly important recognizing the commitments that we’ve announced and some of the commitments that sit on our white boards. There are certainly, based on what we see today and the level of pipeline and growth, we get a sense that there’s a bigger opportunity in front of us here at Equinix.
So, for that very reason, we exercised the opportunity to raise capital when we thought we could. So from our perspective, we’ll continue to manage and certainly share with people on the phone and our investors, when we come to a new project or if there is no other project we’re certainly going to share that with you and we’ll reset our CapEx accordingly.
When it comes to your second question, I think it’s important to note both Steve’s comment and my comment that, we are going to see slightly higher churn in Q3 and Q4. Our DSOs were still below 30 days, as you noted 29 days versus 27 days last quarter that’s more in one market that we’re seeing a meaningful up tick, but having our churn, in my comments there is a couple of customers at the time that we offered our guidance last quarter, things have not gone well for a couple of customers and hence our churn is going to go up and that’s been reflected in the guidance numbers that we have shared with you.
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