Digital Realty Trust forecasts annual FFO above estimates on AI-driven demand

Reuters
Feb 06
<a href="https://laohu8.com/S/DLR">Digital Realty Trust</a> forecasts annual FFO above estimates on AI-driven demand

Feb 5 (Reuters) - Digital Realty Trust DLR.N forecast annual funds from operations above Wall Street estimates on Thursday, betting on strong demand for its data center services as businesses double down on artificial intelligence tech.

The company is experiencing increased demand as tech firms boost spending on AI infrastructure, including data centers, necessary for developing the booming technology.

Digital Realty leases out managed data centers to clients in sectors that range from cloud and information technology to social networking, communications and manufacturing.

The Texas-based real estate investment trust expects adjusted FFO, a key cash flow measure for REITs, of between $7.90 to $8 per share for the year, compared with analysts' average estimate of $7.45 per share, according to data compiled by LSEG.

For the fourth quarter ended December 31, Digital Realty posted revenue of $1.63 billion, compared with estimates of $1.58 billion.

Adjusted funds from operations in the quarter came in at $1.86 per share, compared with estimates of $1.58.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Vijay Kishore)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10