10-K · February 13, 2026
Digital Realty emphasizes PlatformDIGITAL® and its scale-driven moat: a 310-facility global footprint supporting ~57.6 million rentable square feet, ~232,000 cross connects and ~2.9 GW of in-place IT capacity. Q4 2025…
Earnings analysis · 10-Q
DLR earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Digital Realty Trust, Inc. reported strong Q1 2026 results with revenues of $1.635 billion, up 16.2% year-over-year, exceeding estimates by 2%. However, diluted EPS at $2.04 beat estimates by $0.10 but showed…
Read full summary
Digital Realty Trust, Inc. reported strong Q1 2026 results with revenues of $1.635 billion, up 16.2% year-over-year, exceeding estimates by 2%. However, diluted EPS at $2.04 beat estimates by $0.10 but showed improvement from a low prior quarter. The company also announced an increase in guidance for 2026 total revenue to a range of $6.65 to $6.75 billion, alongside a solid growth outlook in specific segments.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.04
What stood out
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Revenue Growth
Total operating revenues increased by 16.2% to $1.635 billion compared to $1.407 billion in Q1 2025.
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EPS Beat
Diluted EPS reported at $2.04, beating estimates by $0.10.
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Improved Guidance
Raised 2026 revenue outlook to $6.65B-$6.75B from $6.60B-$6.70B.
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Segment Strength
Stabilized revenue increased by 10% year-over-year.
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High Cash Position
Cash and cash equivalents stood at $2.427 billion, supporting solid liquidity.
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Acquisition Activity
Acquisitions of $280 million executed during the quarter, enhancing growth potential.
What to watch
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High Leverage
Company maintains a ratio of debt to total enterprise value at around 21.7%, posing a potential risk if market conditions worsen.
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Cost Pressures
Increased operating costs due to higher utilities as the market recovers.
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Interest Rate Sensitivity
Variable rate debt accounted for 6.6% of total debt, exposing the company to interest rate risks.
Management's outlook
2026 Core FFO per share guidance raised to $8.00 - $8.10.
Earlier filings 4
10-Q · November 1, 2024
Digital Realty reported Q3 operating revenues of $1,431,214,000 (up from $1,402,432,000 a year ago) and operating income of $168,286,000 (vs. $58,226,000 in Q3 2023). GAAP diluted EPS collapsed to $0.09 (Q3 2023 diluted…
10-K · February 23, 2024
Digital Realty positions itself as the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, operating 309 data centers across 28 countries and managing…
10-Q · August 4, 2023
Digital Realty reported Q2 operating revenues of $1,366,267,000 (up from $1,139,322,000 in Q2 2022) and diluted EPS of $0.37 (up from $0.19). Revenue and net income improved year-over-year, aided by a $89,946,000 gain…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.