FX.co ★ Digital Realty Q1 Profit Rises, But FFO Down

On Thursday, Digital Realty (DLR) disclosed its first-quarter net income of $271.3 million, equivalent to $0.82 per share. This is a significant increase compared to $58.5 million, or $0.20 per share, during the same period last year.

The company also reported that the funds from operations during the first quarter amounted to $1.41 per share, a slight decrease from $1.60 per share last year. However, the Core FFO per share experienced a marginal increase from $1.66 in the previous year to $1.67 in the first quarter of this year.

Notably, Digital Realty generated revenues of $1.33 billion in the initial quarter of 2024, marking a 1% decrease from $1.34 billion recorded in the corresponding quarter of the previous year.

According to a poll of analysts conducted by Thomson Reuters, the anticipated earnings were set at $0.24 per share, and the revenue was projected to be $1.36 billion for the quarter.