Digital Realty Q3 Results Up; Beat Street View

(RTTNews) - Real Estate investment firm Digital Realty Trust Inc. (DLR) reported improved results in the third quarter, which also beat the Street estimates. The company also updated its FY22 Core FFO outlook.

The company posted net income of $226.9 million or $0.75 per share in the third quarter, higher than $124.1 million or $0.44 per share in the same period last year. Total operating revenues for the third quarter rose 5 percent to $1.2 billion from $1.1 billion a year ago.

On average, 12 analysts polled by Thomson Reuters expected the company to post income of $0.32 per share on revenues of $1.19 billion for the quarter. The company's funds from operations or FFO for the quarter were $462.3 million or $1.55 per share, higher than $447.3 million or $1.54 per share in the prior-year quarter.

Looking ahead, the company updated its 2022 Core FFO per share outlook of $6.70-$6.75 and updated its 2022 constant-currency Core FFO per share outlook of $6.95 - $7.00.