Digital Realty Trust (NYSE: DLR) raised its 2026 Core FFO outlook on Thursday after second-quarter revenue rose 29% year over year to $1.92 billion.
Core FFO reached a record $2.65 per diluted share, up from $1.87 one year earlier
Core funds from operations (Core FFO) measures the recurring earnings generated by Digital Realty’s data center business. It is not a dividend, but it helps investors assess the company’s ability to fund dividends. Core FFO excluding net promote income was $2.13 per share.
The reported figure included $187.9 million of promote income tied to the development and leasing of three joint-venture data centers. Digital Realty booked $306.9 million of annualized GAAP base rent at 100% share during the quarter. Its signed-but-not-started backlog hit a record $1.9 billion, and two hyperscale leases signed in July contributed another $410 million at 100% share. “We signed more than $100 million of 0-1 MW plus Interconnection bookings for the first time, demonstrating the strength of our connectivity-rich portfolio and boosting near-term growth,” President and CEO Andy Power said.