Digital Realty FY26 Q3: revenue up 20.6%, guidance raised
Digital Realty’s FY26 Q3 supports a positive read: revenue rose 20.6% to $1.90 billion, Core FFO per share was $2.10, and management raised 2026 revenue and Core FFO guidance. Read the quarter with two adjustments: GAAP EPS of $0.48 sits below the $0.534 consensus, and last quarter’s revenue included $201 million of promote income. Record leasing and a $2.5 billion backlog are the forward-looking anchors.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $0.48, up from $0.15 a year ago but below the $0.534 consensus estimate. Core FFO per share was $2.10, up from $1.89 a year ago but down from $2.13 last quarter excluding net promote. The gap between GAAP EPS and Core FFO comes from real-estate depreciation and other adjustments, so $2.10 should not be compared directly with the $0.534 EPS consensus.
Revenue was $1.90 billion, up 20.6% from $1.58 billion a year earlier and 1.1% below the prior quarter’s $1.92 billion. The sequential comparison is distorted by $201 million of promote income in Q2, which the company says made Q3 10% higher excluding that item. Rental and other services supplied $1.83 billion, or 96.0% of revenue, while fee income and other contributed $75 million.
Management raised 2026 revenue guidance excluding promote income to $7.050–$7.125 billion, midpoint $7.0875 billion, from $6.850–$6.950 billion in July. It also raised 2026 Core FFO per share excluding net promote to $8.30–$8.35, with net income per diluted share guided to $2.90–$2.95. The revenue midpoint of $7.09 billion is a direct lift to the top-line plan, not a rounding tweak.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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