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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.44B | +4.8% | $0.51 | +760.0% | 10.1% | 13.2% | $34M |
| FY2025 Q1 | $1.41B | +5.7% | $0.27 | -67.1% | 13.9% | 7.8% | $-388M |
| FY2025 Q2 | $1.49B | +10.1% | $2.94 | +1370.0% | 14.2% | 69.1% | $-63M |
| FY2025 Q3 | $1.58B | +10.2% | $0.15 | +62.2% | 8.8% | 4.3% | $-35M |
| FY2025 Q4 | $1.71B | +19.3% | $0.25 | -51.0% | 17.8% | 5.8% | $719M |
| FY2026 Q1 | $1.64B | +16.2% | $0.46 | +70.4% | 17.3% | 11.0% | $532M |
| FY2026 Q2 | $1.92B | +28.9% | $1.21 | -58.8% | 25.9% | 23.6% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Record core FFO of $2.04 per share delivered 15% year-over-year growth as Digital Realty signed its largest lease in company history at 200MW for AI inference and posted a fourth consecutive record 0-1MW quarter at $98 million. The development pipeline scaled 60% to a $16.5 billion record while 2026 FFO guidance was raised to $8.00-8.10 per share. Same-capital cash NOI grew 7.9% as AI agent workloads emerged as a demand multiplier for infrastructure.
Demand | Capex Investment | Cloud & AI | Revenue Growth | Pricing | Competitive Dynamics | Capital Allocation | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 2 | 3 | 4 | 3 | 4 | 3 | 1 |
| 2025Q1 | 7 | 3 | 2 | 1 | 2 | 1 | 1 | 2 |
| 2025Q2 | 7 | 5 | 2 | 5 | 1 | 2 | 3 | |
| 2025Q3 | 5 | 6 | 3 | 3 | 2 | 2 | 1 | 2 |
| 2025Q4 | 5 | 5 | 3 | 1 | 2 | 4 | 2 | 2 |
| 2026Q1 | 4 | 4 | 2 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 7 | 7 | 5 | 5 | 4 |
| Capex Investment | 2 | 3 | 5 | 6 | 5 | 4 |
| Cloud & AI | 3 | 2 | 2 | 3 | 3 | 2 |
| Revenue Growth | 4 | 1 | 5 | 3 | 1 | |
| Pricing | 3 | 2 | 1 | 2 | 2 | 3 |
| Competitive Dynamics | 4 | 1 | 2 | 2 | 4 | |
| Capital Allocation | 3 | 1 | 3 | 1 | 2 | |
| Supply Chain | 1 | 2 | 2 | 2 | 3 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Eric Luebchow | Wells Fargo | 7 (0%) |
| Mike Rollins | Citigroup | 7 (0%) |
| Aryeh Klein | BMO Capital Markets | 6 (0%) |
| Michael Elias | TD Cowen | 6 (0%) |
| Richard Choe | JPMorgan | 6 (0%) |
| Irvin Liu | Evercore ISI | 6 (0%) |
| Vikram Malhotra | Mizuho Securities | 5 (0%) |
| Jon Petersen | Jefferies | 5 (0%) |
| Frank Louthan | Raymond James | 5 (0%) |
| Nick Del Deo | MoffettNathanson | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Citigroup | 1 | 7 (0%) |
| Wells Fargo | 1 | 7 (0%) |
| JPMorgan | 1 | 6 (0%) |
| BMO Capital Markets | 1 |
| 6 (0%) |
| Evercore ISI | 1 | 6 (0%) |
| TD Cowen | 1 | 6 (0%) |
| Mizuho Securities | 1 | 5 (0%) |
| Jefferies | 1 | 5 (0%) |
What DLR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“You obviously did the deal with Digital a few years back, hasn't been a ton of consistent investment in data centers.”
An analyst references Realty Income's prior data-center transaction with Digital Realty while asking about its current data-center strategy.
“through the acquisition of Telepoint, one of Southeast Europe's most important emerging interconnection hubs”
Digital Realty entered Sofia, Bulgaria by acquiring Telepoint, expanding its Southeast European interconnection footprint along the Eastern Mediterranean corridor.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
DLR Digital Realty | 8 | +12.0% | |
| ARE Alexandria Real Estate Equities | 2 | -9.7% | |
| BXP BXP, Inc. | 6 | +0.8% |