Digital Realty Q1 2023 Earnings Report

Reported first quarter results, demonstrating an inflection in operating business driven by steady demand and reduced data center availability.

Key Takeaways

Digital Realty reported revenues for the first quarter of 2023 of $1.3 billion, a 9% increase from the previous quarter and a 19% increase from the same quarter last year. The company delivered first quarter of 2023 net income of $69 million, and net income / (loss) available to common stockholders of $59 million, or $0.19 per diluted share.

Reported net income available to common stockholders of $0.19 per share in 1Q23, compared to $0.22 in 1Q22

Reported FFO per share of $1.60 in 1Q23, compared to $1.60 in 1Q22

Reported Core FFO per share of $1.66 and Constant-Currency Core FFO per share of $1.69 in 1Q23, compared to $1.67 in 1Q22

Reported rental rate increases on renewal leases of 4.5% on a cash basis in 1Q23

Total Revenue

$1.34B

Previous year: $1.13B