Digital Realty

Digital Realty sees 4% revenue increase from previous quarter

12 February 2021 | Abigail Opiah

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Digital Realty (NYSE: DLR) reported revenues for the fourth quarter of 2020 of $1.1 billion, a 4% increase from the previous quarter and a 35% increase from the same quarter last year.

The company delivered fourth quarter of 2020 net income of $60 million, and net income available to common stockholders of $44 million, or $0.16 per diluted share, compared to a net loss available to common stockholders of ($0.14) per diluted share in the previous quarter.

Digital Realty generated fourth quarter of 2020 Adjusted EBITDA of $578 million, to which the company saw a 2% increase from the previous quarter and a 22% increase over the same quarter last year. 

"We closed 2020 with a strong finish, delivering record bookings for the full year," said Digital Realty Chief Executive Officer A. William Stein. 

"This tremendous achievement is a testament to the consistent execution and growth across our global platform. 

“Our book of business outside the Americas has expanded meaningfully, while our colocation and interconnection business represents a rapidly growing share as we continue to gain traction with enterprise customers as well as service providers. 

“We look forward to building upon this momentum into 2021 and beyond, and we remain confident that our global platform will continue to deliver sustainable growth for all stakeholders." 

The company reported fourth-quarter of 2020 funds from operations of $420 million, or $1.45 per share, compared to $1.19 per share in the previous quarter and $1.62 per share in the same quarter last year. 

Digital Realty delivered fourth quarter of 2020 core FFO per share of $1.61, a 5% increase from $1.54 per share in the previous quarter, and a 1% decrease from $1.62 per share in the same quarter last year. 

In the fourth quarter, the data centre company signed total bookings expected to generate $130 million of annualized GAAP rental revenue, including a $12 million contribution from interconnection.