Digital Realty Reports Q2 2024 Earnings: $1.4B Revenue, $1.57 FFO per Share, Net Income $70M, Shares Decline

Digital Realty Trust reported its Q2 2024 earnings, revealing a revenue of $1.4 billion, a slight decline of 1% year-over-year. The company's net income available to common stockholders fell to $70 million, a decrease of 35% from the previous year. Adjusted EBITDA rose by 4% to $727 million, while funds from operations (FFO) per share increased by 3.3% to $1.57. Core FFO per share, however, saw a marginal decline of 1.8% to $1.65. The company's leasing activity is expected to generate $164 million in annualized GAAP rental revenue. Despite these results, Digital Realty's shares experienced a decline following the earnings report.