Core funds from operations hit a record $2.13 per share, comfortably beating the $1.98 consensus estimate from analysts polled by FactSet. This performance was underpinned by a 29% revenue increase to $1.92 billion, significantly higher than the $1.66 billion anticipated by the market. While net income reached $453.3 million, or $1.21 per share, CEO Andy Power emphasized that the company’s underlying growth is being fueled by robust demand across its hyperscale and private-capital segments.

Operational momentum reached a milestone this quarter as the company secured over $100 million in bookings for smaller-scale deployments. Expanding its physical footprint, Digital Realty also added powered land capacity in the Kansas City metro area. Given this trajectory, the company lifted its full-year core funds from operations outlook to a range of $8.15 to $8.20 per share, up from its previous forecast of $8 to $8.10. Year-to-date, the stock has climbed 33%.