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Digital Realty raises annual FFO forecast on robust data center demand
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July 23 (Reuters) - Digital Realty Trust raised its full-year forecast for funds from operations on Thursday, betting on resilient leasing momentum from cloud and AI customers to drive growth, sending its shares up 3% in extended trading.
Austin, Texas-based Digital Realty is a real estate investment trust (REIT) that provides data center, colocation and interconnection solutions.
• The REIT also raised its annual total revenue forecast to be between $6.85 billion and $6.95 billion, from its earlier projection of $6.65 billion to $6.75 billion.
• It posted revenue of $1.92 billion for the second quarter ended June 30, up 29% and beating analysts' average estimate of $1.66 billion, according to data compiled by LSEG.
• Adjusted FFO came in at $2.65 per share for the quarter, ahead of an estimate of $1.86 per share.