Digital Realty has revealed its third-quarter 2024 financial report saying its revenue rose 5 percent from the previous quarter and 2 percent from the same quarter last year to $1.4 billion.
Digital Realty data center growthDigital Realty posted net income of $41 million, or $0.09 per diluted share. This is down from $0.20 in the previous quarter and $2.31 in the same quarter last year.
Funds From Operations (FFO) have reached $520 million, or $1.55 per share, compared to $1.57 in the previous quarter and $1.55 the prior year.
Renewal leases totaling $258 million in annualized cash rental revenue were signed, with rental rates increasing by 15.2 percent on a cash basis and 27.5 percent on a GAAP basis.
Digital Realty CEO Andy Power highlighted record leasing activity and a strong backlog, positioning the company for future growth.
Digital Realty signed new bookings generating $521 million in annualized rental revenue. The backlog of signed-but-not-commenced leases rose to $859 million.
Digital Realty, a leading data center operator, has achieved 50 percent AI bookings during the last three quarters.
Digital Realty has added 149 new customers. Digital Realty has 5,000+ customers.
Digital Realty signed renewals representing $258 million of annualized rental revenue
Digital Realty signed renewals for 0-1 MW capacity representing $133 million of annualized rental revenue.
Digital Realty signed renewals for > 1 MW representing $116 million of annualized rental revenue.
Digital Realty has IT capacity of ~2,700 MW. Digital Realty is aiming for >3,000 MW buildable IT capacity. Out of this, 644 MW capacity is under construction.
Digital Realty is the leading the data center industry in green bonds. Digital Realty issued $7.2 billion in aggregate principal amount of green bonds. In September, Digital Realty issued €850 million green bond. It also refinanced and upsized sustainability-linked credit facility to $4.5 billion.
Digital Realty says it has more green building certified IT capacity than any other data center provider. Digital Realty says 1.1 GW-IT global operating portfolio has a sustainable building certification. 62 percent of certifications are gold level and above. Digital Realty said it certified178 MW-IT in past 12 months. It has achieved “Gold+” Certification in Zurich from Swiss Datacenter Efficiency Association.
Digital Realty is also the leading data center purchaser of renewable energy. The capacity of contracted renewable capacity is 1.4 GW. It is using 100 percent renewable energy for European portfolio and North America productized colocation portfolio. 152 sites matched with 100 percent renewable including New Jersey, Texas, San Francisco, and Sydney markets. It expanded HVO diesel to 20 Global Sites and 15 percent of the global portfolio by IT capacity.
Baburajan Kizhakedath
