Sunday, August 2, 2020

Digital Realty and Interxion see continued growth, 86% occupancy

Digital Realty reported Q2 revenues of $993 million, a 21% increase from the previous quarter and a 24% increase from the same quarter last year.  Net income was $76 million, and net income available to common stockholders of $54 million, or $0.20 per diluted share, compared to $0.90 per diluted share in the previous quarter and $0.15 per diluted share in the same quarter last year. Q2 adjusted EBITDA of $559 million, a 16% increase from the previous quarter and a 17% increase over the same quarter last year.

In Q2, Digital Realty signed total bookings expected to generate $144 million of annualized GAAP rental revenue, including a $12 million contribution from interconnection and an $18 million contribution from the combination with Interxion, which was completed on March 12, 2020.

Digital Realty also signed renewal leases representing $169 million of annualized GAAP rental revenue during the quarter. 
Rental rates on renewal leases signed during the second quarter of 2020 rolled down 2.8% on a cash basis and up 7.2% on a GAAP basis.

"I'm incredibly proud of the way the Digital Realty team has come together during the difficult circumstances of the past several months to maintain steadfast support for our customers around the world, prioritizing health and safety while maintaining service levels," said Digital Realty Chief Executive Officer A. William Stein.  "We continued to seed investments to support our customers' future growth across the Americas, APAC and EMEA, while delivering record current-period bookings, demonstrating the power of our global platform as well as the resiliency of our business.  Looking ahead, we are well positioned to continue to deliver sustainable growth for customers, shareholders and employees, into the second half of 2020 and beyond."