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Dec 31, 2024
Digital Realty Q4 2024 Earnings Report
Digital Realty reported strong revenue growth and record leasing activity in Q4 2024.
Key Takeaways
Digital Realty achieved a 5.00% year-over-year revenue increase in Q4 2024, driven by record leasing activity in the 0–1 MW plus interconnection segment. Net income saw an 835.67% surge, reflecting strong demand and operational improvements. The company introduced a 2025 Core FFO per share guidance of $7.05 - $7.15.
Revenue increased by 5.00% year-over-year to $1.44 billion.
Net income surged by 835.67% year-over-year to $186 million.
Record leasing activity in the 0–1 MW plus interconnection segment, adding 166 new customers.
2025 Core FFO per share guidance set at $7.05 - $7.15.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Digital Realty expects strong revenue growth and stable occupancy rates in 2025, with a focus on expanding its hyperscale and interconnection services.
Positive Outlook
- 2025 Core FFO per share expected at $7.05 - $7.15.
- Revenue guidance set between $5.80 billion - $5.90 billion.
- Rental rates on renewal leases expected to increase by 4.0% - 6.0% (cash basis).
- Continued expansion in the hyperscale and interconnection segments.
- Stable occupancy rates projected across global data centers.
Challenges Ahead
- Expected Adjusted EBITDA decline due to increased costs.
- Potential impact from foreign exchange fluctuations.
- Higher interest rates may increase financing costs.
- Increased development and expansion costs may pressure margins.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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