Digital Realty Trust (DLR) Revenue — Quarter Ended Mar 31, 2024
Revenue declined in the quarter, reversing a prior upward trend. The decrease was seen both sequentially and compared to the same period last year.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue declined in the quarter, reversing a prior upward trend. The decrease was seen both sequentially and compared to the same period last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.3B
Revenue reported for this quarter.
Quarter-over-quarter
-2.8%
Change from the immediately preceding quarter.
Year-over-year
-0.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $1.4B | +19.9% |
| Sep 30, 2023 | $1.4B | +17.6% |
| Dec 31, 2023 | $1.4B | +11.1% |
| Mar 31, 2024 | $1.3B | -0.6% |
Revenue performance
The company's revenue contracted relative to the prior quarter, and also fell slightly below the year-ago level. This marks a departure from the growth seen in the preceding three quarters.
Quarterly comparison
The current quarter's revenue was lower than the immediately preceding quarter. Compared to the same quarter one year earlier, revenue also declined.
What to watch
The company's filing notes that the ability to re-lease expiring space at favorable rental rates will affect future results.