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Key Takeaways Digital Realty Trust's Q3 core FFO rose 13.2% to $1.89, topping the consensus estimate of $1.78.Q3 operating revenues grew 10.2% year over year to $1.58B, supported by steady leasing momentum.The company raised its 2025 core FFO guidance to $7.32-$7.38, reflecting continued strong demand.Digital Realty Trust (DLR) reported third-quarter 2025 core funds from operations (FFO) per share of $1.89, beating the Zacks Consensus Estimate of $1.78. FFO also increased 13.2% year over year.Reflecting inv ...

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Digital Realty Trust (DLR) reported $1.58 billion in revenue for the quarter ended September 2025, representing a year-over-year increase of 10.2%. EPS of $1.89 for the same period compares to $0.09 a year ago.The reported revenue represents a surprise of +3.65% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $1.78, the EPS surprise was +6.18%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Demand for scalable, connected infrastructure remains robust across a wide range of customer segments, from global cloud platforms to regional service providers and multinational enterprises. Meeting this demand within our markets, however, is becoming increasingly challenging. Power availability, permitting challenges, and infrastructure constraints are making it harder to bring new supply online at the pace our customers require. Digital Realty Trust, Inc.'s established presence in the world's leading met ...

Core Insights - Digital Realty Trust (DLR) reported quarterly funds from operations (FFO) of $1.89 per share, exceeding the Zacks Consensus Estimate of $1.78 per share, and up from $1.67 per share a year ago, representing an FFO surprise of +6.18% [1] - The company achieved revenues of $1.58 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.65%, compared to $1.43 billion in the same quarter last year [2] - Digital Realty Trust has consistently surpassed consensus FFO estimates over the last four quarters, achieving this four times [2] Financial Performance - The FFO for the previous quarter was $1.87 per share, which was also above the expected $1.74 per share, resulting in a surprise of +7.47% [1] - The current consensus FFO estimate for the upcoming quarter is $1.79 on revenues of $1.54 billion, and for the current fiscal year, it is $7.21 on revenues of $5.97 billion [7] Market Position - Digital Realty Trust shares have underperformed the market, losing about 2.8% since the beginning of the year, while the S&P 500 has gained 13.9% [3] - The Zacks Industry Rank places the REIT and Equity Trust - Other sector in the top 34% of over 250 Zacks industries, indicating a favorable industry outlook [8] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and the trends in estimate revisions [3][4] - The estimate revisions trend for Digital Realty Trust was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6]

Core Insights - Digital Realty Trust has raised its annual forecasts for core funds from operations and revenue, anticipating increased demand for data center services driven by the growth in artificial intelligence [1] Company Summary - The company expects a significant boost in demand for its data center services due to the ongoing boom in artificial intelligence [1]

Financial Data and Key Metrics Changes - The company reported a core FFO per share of $1.89, a quarterly record and 13% higher than the same quarter last year [3][10] - Constant currency core FFO per share was $1.85, reflecting an 11% year-over-year increase [3] - AFFO per share and adjusted EBITDA increased by 16% and 14% year-over-year, respectively [3] - Operating revenue grew by 10%, contributing to strong earnings results [10][23] - Same capital cash NOI growth was 8% year-over-year, driven by a 7.8% increase in data center revenue [24] Business Line Data and Key Metrics Changes - Bookings in Q3 were $201 million at 100% share, with $162 million at Digital Realty's share [11][19] - The 0 to 1 megawatt plus interconnection category contributed $85 million in new leases, while greater than a megawatt leasing accounted for $76 million [11][21] - Interconnection leasing reached $20 million, marking a record quarter and a 13% increase from the previous record [11][21] Market Data and Key Metrics Changes - Leasing activity was globally diversified, with notable strength in the Americas, EMEA, and APAC [11] - The backlog at Digital Realty's share increased to $852 million, with $137 million of commencements offset by new bookings [21] - The company signed $192 million of renewal leases at an 8% blended increase on a cash basis [22] Company Strategy and Development Direction - The company aims to support the growing demand for scalable, connected infrastructure driven by digital transformation, cloud, and AI [5][6] - Digital Realty's established presence in key metros and relationships with utilities provide a competitive advantage in navigating infrastructure challenges [6][9] - The company is focused on delivering capacity that meets customer requirements while maintaining financial discipline to drive long-term value [28][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth due to a robust backlog and strong operational execution [3][10] - The anticipated demand for AI-oriented deployments is expected to remain strong, with over 50% of quarterly bookings related to AI use cases [9][10] - The company is increasing its core FFO guidance range for the full year 2025, reflecting better-than-expected operating performance [26][27] Other Important Information - Digital Realty received the EcoVadis Gold rating for business sustainability, placing it in the 97th percentile of assessed companies [16] - The company signed long-term renewable energy agreements to procure 500 gigawatt hours of clean baseload hydropower [16] Q&A Session Summary Question: Guidance for 2026 and growth levels - Management indicated a target of 10% top-line growth supported by a healthy backlog of over $550 million, despite some headwinds from maturing debt and lower interest income [32][33] Question: Demand from hyperscalers in major metro markets - Management noted robust dialogue with hyperscalers, leading to the largest pipeline on record, with significant interest in capacity blocks coming online in 2026 and 2027 [34][37] Question: Capacity to increase releasing spreads - Management highlighted strong pricing power in the less than a megawatt category, with expectations for continued healthy market rates [38] Question: Diversity of hyperscalers being engaged - Management confirmed ongoing discussions with a diverse array of hyperscalers, focusing on larger capacity blocks with established businesses [41][43] Question: M&A opportunities in the current landscape - Management stated that the strategy remains consistent, focusing on land acquisition, building purchases, and strategic company acquisitions [56] Question: Timeline for future developer capacity - Management indicated that significant capacity blocks are being prioritized for leasing, with ongoing customer interest in 2026 and 2027 deliveries [57][59]

3Q25 FINANCIAL RESULTS October 23, 2025 Global. Connected. Sustainable. The meeting place for companies, technologies and data Executing on Key Strategic Priorities Positioned for Long-Term Sustainable Growth 5,000+ Customers 231,000+ Cross Connects 50+ Metros 300+ Data Centers Capacity Host What You Need, How You Need Coverage Deploy Where You Need Connectivity Connect How You Need to Whom You Need Control Implement and Operate the Way You Need Strengthen Our Customer Value Proposition 1 2 3 Innovate & Int ...

Table of Contents E x h i b i t 9 9 . 1 Table of Contents Financial Supplement Table of Contents Third Quarter 2025 | Overview | PAGE | | --- | --- | | Corporate Information | 3 | | Key Quarterly Financial Data | 5 | | Consolidated Statements of Operations | | | Earnings Release | 7 | | 2025 Outlook | 10 | | Consolidated Quarterly Statements of Operations | 12 | | Funds From Operations and Core Funds From Operations | 13 | | Adjusted Funds From Operations | 14 | | Balance Sheet Information | | | Consolidate ...