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Sep 30, 2023
Digital Realty Q3 2023 Earnings Report
Reported strong and broad-based demand across product spectrum and record leasing in the 0-1 megawatt plus interconnection category.
Key Takeaways
Digital Realty reported third quarter 2023 results with revenues of $1.4 billion, a 3% increase from the previous quarter and an 18% increase from the same quarter last year. Net income was $746 million, or $2.33 per diluted share. Total bookings are expected to generate $152 million of annualized GAAP rental revenue.
Reported net income available to common stockholders of $2.33 per share in 3Q23, compared to $0.75 in 3Q22
Reported FFO per share of $1.55 in 3Q23, compared to $1.55 in 3Q22
Reported Core FFO per share of $1.62 in 3Q23, compared to $1.67 in 3Q22
Reported “Same-Capital” cash NOI growth of 9.4% in 3Q23
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Digital Realty Revenue by Geographic Location
Revenue by Segment
Interconnection Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
Digital Realty narrowed its 2023 Core FFO per share and constant-currency Core FFO per share outlook to $6.58 - $6.62.
Positive Outlook
- Total revenue $5.475 - $5.525 billion
- Adjusted EBITDA $2.685 - $2.715 billion
- G&A $425 - $435 million
- Cash basis Greater than 5.0%
- GAAP basis Greater than 9.0%
Challenges Ahead
- Net non-cash rent adjustments ($55 - $60 million)
- Year-end portfolio occupancy 83.0% - 84.0%
- U.S. Dollar / Pound Sterling $1.20 - $1.25
- U.S. Dollar / Euro $1.05 - $1.10
- Long-term debt issuance $740 million