Summary
Digital Realty Trust, Inc. (DLR) reported its second-quarter 2020 results, demonstrating continued growth in revenues and a focus on strategic capital allocation. Total operating revenues increased by 24% year-over-year to $993.0 million for the quarter, driven by contributions from the Interxion acquisition and growth in rental and other services. The company's portfolio expanded significantly, with 281 data centers now included, reflecting a strategic push into new markets and enhanced global reach. Despite increased operating expenses and transaction costs related to recent acquisitions, Digital Realty maintained a healthy operating income. The company also focused on strengthening its balance sheet by issuing new debt and equity, managing its capital structure prudently. The report highlights the company's resilience amidst the COVID-19 pandemic, with all facilities remaining operational and rent collections largely on track, although future impacts remain uncertain. The company's management expressed confidence in its strategy to drive long-term growth and shareholder value.
Financial Highlights
34 data points| Revenue | $993.00M |
| Operating Expenses | $840.18M |
| Operating Income | $152.81M |
| Interest Expense | $79.87M |
| Net Income | $74.83M |
| EPS (Basic) | $0.20 |
| EPS (Diluted) | $0.20 |
| Shares Outstanding (Basic) | 267.57M |
| Shares Outstanding (Diluted) | 270.74M |
Key Highlights
- 1Total operating revenues grew 24% year-over-year to $993.0 million for the quarter ended June 30, 2020.
- 2The company's portfolio expanded to 281 data centers, including those in unconsolidated joint ventures, reflecting significant global growth and diversification.
- 3Net income available to common stockholders increased to $53.7 million, or $0.20 per diluted share, compared to $31.7 million, or $0.15 per diluted share, in the prior year period.
- 4Digital Realty completed its acquisition of Interxion Holding N.V. in March 2020, a significant strategic move that added approximately $4.4 billion in goodwill.
- 5The company's liquidity position remained strong, with $505.2 million in cash and cash equivalents as of June 30, 2020.
- 6Subsequent to the quarter, Digital Realty announced the redemption of $800 million in notes due 2022, demonstrating proactive debt management.
- 7The company's proactive management of the COVID-19 pandemic ensured operational continuity, with rent collections remaining largely on track during the period.