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Mar 31, 2021
Digital Realty Q1 2021 Earnings Report
Digital Realty's financial performance was solid, driven by acceleration in digital adoption. The company delivered strong financial results and signed significant new leases.
Key Takeaways
Digital Realty reported strong first quarter 2021 results, with revenues of $1.1 billion, a 3% increase from the previous quarter and a 32% increase from the same quarter last year. Net income available to common stockholders was $372 million, or $1.32 per diluted share. The company signed total bookings expected to generate $117 million of annualized GAAP rental revenue.
Reported net income available to common stockholders of $1.32 per share in 1Q21, compared to net income available to common stockholders of $0.90 in 1Q20
Reported FFO per share of $1.49 in 1Q21, compared to $0.91 in 1Q20
Reported core FFO per share of $1.67 in 1Q21, compared to $1.53 in 1Q20
Signed total bookings during 1Q21 expected to generate $117 million of annualized GAAP rental revenue, including a $13 million contribution from interconnection
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Revenue by Segment
Interconnection Revenue
CapyFin.com Forward Guidance
Digital Realty raised its 2021 core FFO per share outlook from $6.40-$6.50 to $6.50-$6.55.
Positive Outlook
- Total revenue $4.300 - $4.400 billion
- Adjusted EBITDA $2.330 - $2.380 billion
- Pricing 1.00%
- Timing Early-to-mid 2021
- Core Funds From Operations / share $6.50 - $6.55
Challenges Ahead
- Net non-cash rent adjustments ($20) - ($25) million
- G&A $380 - $390 million
- Cash basis Slightly negative
- GAAP basis Slightly positive
- Non-core expenses and revenue streams $0.25 - $0.25