NYSE$DLR

Digital Realty Trust Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported first quarter results, demonstrating an inflection in operating business driven by steady demand and reduced data center availability.

Digital Realty reported revenues for the first quarter of 2023 of $1.3 billion, a 9% increase from the previous quarter and a 19% increase from the same quarter last year. The company delivered first quarter of 2023 net income of $69 million, and net income / (loss) available to common stockholders of $59 million, or $0.19 per diluted share.

  • Reported net income available to common stockholders of $0.19 per share in 1Q23, compared to $0.22 in 1Q22
  • Reported FFO per share of $1.60 in 1Q23, compared to $1.60 in 1Q22
  • Reported Core FFO per share of $1.66 and Constant-Currency Core FFO per share of $1.69 in 1Q23, compared to $1.67 in 1Q22
  • Reported rental rate increases on renewal leases of 4.5% on a cash basis in 1Q23

Headline financials

Total Revenue

$1.34B

Previous: $1.13B+18.8%
EPS (adj)

$1.66

Previous: $1.67-0.6%
Capital Expenditures

-$739M

Previous: -$519M-42.4%
Free Cash Flow

-$670M

Previous: -$445M-50.4%
Net Income

$68.7M

Previous: $73.3M-6.2%
Operating Income

$177M

Previous: $141M+25.6%
Gross Profit

$1.34B

Previous: $1.13B+18.8%
Cash & Equivalents

$131M

Previous: $158M-16.8%
Total Assets

$42B

Previous: $36.7B+14.4%

Revenue & EPS history

Digital Realty · Revenue · Quarterly

$1.34B

Q1 2023+18.8%vs Q1 2022
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

Digital Realty · $102M total across 1 segment · Q1 2023

  • Interconnection and other
    $102M+824.5%

Forward guidance

Digital Realty maintained its 2023 Core FFO per share and constant-currency Core FFO per share outlook of $6.65 - $6.75.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

-0.4%

Avg return

Earnings day

-0.4%

Avg return

5 days after

+0.8%

Avg return

30 days after

48%

32 / 67 earnings

Positive

+9.2%

Q3 2024

Best reaction

-15.6%

Q3 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%+0.5%-3.9%
Q4 2025+0.0%-2.7%-3.9%
Q3 2025+2.2%-4.7%-10.4%
Q2 2025+0.4%-0.5%+4.4%
Q1 2025+4.0%+4.4%+9.3%
Q4 2024-0.3%+2.9%-9.9%
Q3 2024+9.2%+10.3%+14.5%
Q2 2024-4.0%-4.4%+0.3%
Q1 2024+6.5%+4.8%+5.3%
Q4 2023-4.2%-5.0%-1.0%
Q3 2023+4.6%+6.3%+16.7%
Q2 2023+3.5%+4.0%+6.2%
Q1 2023+1.5%-3.0%+1.2%
Q4 2022-2.5%-4.6%-11.4%
Q3 2022-1.6%-1.3%+9.6%
Q2 2022+2.5%+0.0%-3.0%
Q1 2022-1.4%-4.0%-4.5%
Q4 2021+0.4%+1.0%+3.3%
Q3 2021+0.1%+0.7%+6.1%
Q2 2021+0.0%+0.6%+3.9%
Q1 2021+4.9%+4.0%+3.0%
Q4 2020-5.1%-7.0%-9.0%
Q3 2020-3.7%-2.7%-8.8%
Q2 2020+2.1%+2.5%-1.9%
Q1 2020-3.1%-11.2%-5.6%
Q4 2019+3.5%+4.8%+12.8%
Q3 2019-2.2%-4.1%-8.4%
Q2 2019+2.8%+5.4%+11.1%
Q1 2019-2.1%-1.3%+0.6%
Q4 2018-1.3%+2.8%+3.1%
Q3 2018-8.4%-10.1%-5.4%
Q2 2018+3.5%+3.8%+5.7%
Q1 2018+6.2%+3.5%+5.0%
Q4 2017-2.9%-5.4%+1.0%
Q3 2017-4.4%-3.0%-3.0%
Q2 2017-0.1%+3.8%+4.3%
Q1 2017+3.3%+1.4%+5.9%
Q4 2016-0.3%+0.3%-1.5%
Q3 2016-4.1%-7.0%-5.8%
Q2 2016-0.9%-0.7%-5.6%
Q1 2016+0.4%
Q4 2015-1.9%
Q3 2015+2.0%
Q2 2015-0.8%
Q1 2015-0.7%
Q4 2014-1.3%
Q3 2014-0.6%
Q2 2014+2.0%
Q1 2014+3.0%
Q4 2013+0.1%
Q3 2013-15.6%
Q2 2013-9.0%
Q1 2013-2.7%
Q4 2012-1.1%
Q3 2012-4.2%
Q2 2012+2.7%
Q1 2012+0.8%
Q4 2011+2.3%
Q3 2011+1.5%
Q2 2011-10.2%
Q1 2011+1.1%
Q4 2009+1.1%
Q4 2010+1.1%
Q3 2010-0.9%
Q2 2010+1.2%
Q2 2009+1.2%
Q1 2010-4.6%

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