For the quarter ended June 2023, Digital Realty Trust (DLR) reported revenue of $1.37 billion, up 19.9% over the same period last year. EPS came in at $1.68, compared to $0.19 in the year-ago quarter.
The reported revenue represents a surprise of +0.08% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $1.65, the EPS surprise was +1.82%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Digital Realty Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Earnings per Share (Diluted): $0.37 compared to the $0.28 average estimate based on five analysts.
- Occupancy: 82.9% versus 83.26% estimated by two analysts on average.
- Consolidated Portfolio Net Rentable Square Feet: 33.86 Msq ft compared to the 39.57 Msq ft average estimate based on two analysts.
- Revenues- Fee Income: $14.91 million versus $7.05 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +193.9% change.
- Revenues- Interconnection and other: $104.52 million compared to the $103.72 million average estimate based on five analysts. The reported number represents a change of +12% year over year.
- Rental revenues: $869.30 million versus the five-analyst average estimate of $887.85 million. The reported number represents a year-over-year change of +13.3%.
- Revenues- Other: $0.93 million compared to the $0.84 million average estimate based on five analysts. The reported number represents a change of -65.7% year over year.
- Revenues- Tenant reimbursements- Other: $46.19 million versus the four-analyst average estimate of $43.16 million. The reported number represents a year-over-year change of -12.3%.
- Revenues- Tenant reimbursements- Utilities: $330.42 million versus $312.59 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +51.4% change.
- Tenant reimbursements: $376.61 million versus $370.43 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +39% change.
Shares of Digital Realty Trust have returned +8.3% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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