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Mar 31
Digital Realty Q1 2025 Earnings Report
Digital Realty reported steady performance with strong leasing activity and a record backlog.
Key Takeaways
Digital Realty delivered solid Q1 2025 results, with revenue hitting $1.4 billion and a net income of $100 million. Core FFO per share grew to $1.77, supported by strong leasing demand and increased rental rates.
Generated $1.4 billion in revenue, up 6% YoY.
Net income reached $100 million with diluted EPS at $0.27.
Signed $242 million in total bookings, pushing backlog to $919 million.
Raised Core FFO guidance to $7.05–$7.15 for FY25.
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Digital Realty Revenue by Geographic Location
Forward Guidance
Digital Realty raised its 2025 Core FFO outlook and expects sustained leasing momentum and solid development returns.
Positive Outlook
- Raised Core FFO guidance to $7.05–$7.15.
- Maintained constant-currency Core FFO range.
- Revenue outlook increased to $5.825–$5.925 billion.
- Adjusted EBITDA expected between $3.125–$3.225 billion.
- CapEx plans reaffirmed with strong development yield expectations.
Challenges Ahead
- Cash rent adjustments revised lower to -$50 to -$55 million.
- Slight increase in G&A expense outlook to $505–$515 million.
- Persistent FX headwinds moderated guidance translation gains.
- Fixed interest expenses remain elevated amid debt load.
- No increase in recurring CapEx guidance despite larger footprint.