Digital Realty Trust Earnings: Here’s Why Shares are Down Now
Digital Realty Trust Inc. (NYSE:DLR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.48%.
Digital Realty Trust Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.32% to $1.18 in the quarter versus EPS of $1.06 in the year-earlier quarter.
Revenue: Rose 25.96% to $358.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Digital Realty Trust Inc. reported adjusted EPS income of $1.18 per share. By that measure, the company met the mean analyst estimate of $1.18. It beat the average revenue estimate of $353.29 million.
Quoting Management: “We are very pleased with our solid operating performance in the first quarter and are encouraged by the high level of leasing activity that continues today,” said Michael F. Foust, Chief Executive Officer of Digital Realty. “A significant portion of this activity during the quarter came from customers with large requirements that we were able to satisfy with our Custom Solutions offering. Notably, markets that experienced the highest levels of activity included New York metro, Northern Virginia, Chicago, London and Singapore.”
Key Stats (on next page)…