Digital Realty projects downbeat annual revenue as customers tighten spending

Reuters

Feb 14, 2025

Digital Realty projects downbeat annual revenue as customers tighten spending

Feb 13 (Reuters) - Digital Realty Trust DLR.N forecast annual revenue below Wall Street estimates on Thursday, expecting cautious spending by clients on data center services amid economic uncertainty.

Concerns over a slowing global economy have led businesses to cut spending on cloud-related services, including expensive digital infrastructure, hurting data center services such as Digital Realty.

The real estate investment trust $(REIT)$ leases out managed data centers to clients in sectors that range from cloud and information technology to social networking, communications and manufacturing.

Digital Realty expects full-year 2025 revenue to be between $5.8 billion and $5.9 billion, compared with analysts' average estimate of $6.1 billion, according to data compiled by LSEG.

For the fourth quarter ended December 31, Digital Realty posted revenue of $1.44 billion, compared with estimates of $1.46 billion. Adjusted core earnings fell to $1.73 per share from $1.63 a year ago.

Adjusted funds from operations — a key cash flow measure for REITs — came in at $1.36 per share, from $1.30 in the previous year.

(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)

((Juby.Babu@thomsonreuters.com;))

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