Digital Realty Trust Reports Strong Q2 Performance and Raises Full-Year Guidance
Digital Realty Trust (NYSE:DLR) reported strong second-quarter results, leading to an upward revision of its full-year guidance for core FFO per share. The company raised its outlook to a range of $8.15–$8.20 excluding net promote income, implying double-digit growth for the second consecutive year. Record leasing activity and renewals contributed significantly, with over $261 million in renewals at cash re-leasing spreads above 25%. The company also saw robust interconnection bookings of $108 million and a total backlog reaching $1.9 billion. Digital Realty expanded its development pipeline to 1.4 gigawatts under construction, with strong demand driven by AI-related deployments. CEO Andy Power highlighted momentum across colocation, connectivity, hyperscale projects, and private capital initiatives. CFO Matt Mercier noted that the company's performance exceeded internal expectations in revenue, adjusted EBITDA, and core funds from operations.
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Topics: ai_demand data_centers real_estate