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Compared to Estimates, Digital Realty Trust (DLR) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Digital Realty Trust (DLR) reported revenue of $1.33 billion, down 0.6% over the same period last year. EPS came in at $1.67, compared to $0.19 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.36 billion, representing a surprise of -2.25%. The company delivered an EPS surprise of +2.45%, with the consensus EPS estimate being $1.63.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Digital Realty Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Earnings per Share (Diluted): $0.82 compared to the $0.29 average estimate based on six analysts.

  • Rental revenues: $894.41 million compared to the $886.24 million average estimate based on six analysts. The reported number represents a change of +2.7% year over year.

  • Revenues- Tenant reimbursements- Utilities: $276.36 million compared to the $312.62 million average estimate based on six analysts. The reported number represents a change of -12.9% year over year.

  • Revenues- Tenant reimbursements- Other: $38.43 million versus $45.97 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -4.3% change.

  • Revenues- Interconnection and other: $108.07 million versus the six-analyst average estimate of $110.37 million. The reported number represents a year-over-year change of +6.3%.

  • Revenues- Fee Income: $13.01 million versus $10.68 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +65.4% change.

  • Revenues- Other: $0.86 million versus $0.51 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.

View all Key Company Metrics for Digital Realty Trust here>>>

Shares of Digital Realty Trust have returned -1.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research