Cross referencing equation, output format html

I have the following .Rmd file, which includes a cross reference to an equation, but seems not to work.
I am currently using the Rstudio cloud application, but I think it doesn't make any difference whether it is locally or online.

title: "Nice Title"
author: "Me"
output: html_document
Lorem Ipsum
\begin{equation} \label{eq:1}
\sum_{i=0}^{\infty} a_i x^i

The equation \ref{eq:1} is a typical power series.

When the output format is pdf, the equation is cross referenced fine.
Is the syntax different when working with different output formats?
Thanks a lot!

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