Filing Flows › Digital Realty Trust (DLR) › Q1 2026
Digital Realty Trust (DLR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Digital Realty Trust (DLR) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +16% from a year earlier and 0% from the quarter before. Operating margin was 16.4%, net earnings $179M (11.0% of revenue).
Digital Realty Trust, Q1 2026: revenue $1.6B (+16% year over year), operating margin 16.4%, net earnings $179M, operating cash flow $532M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | 0% | +16% |
| Operating profit | $268M | +138% | +36% |
| Net earnings | $179M | +82% | +63% |
| Operating cash flow | $532M | -26% | +33% |
What changed
Revenue was $1.6B in Q1 2026, up 16% year over year and roughly flat from the previous quarter. Rental and other services was the largest line at 98% of revenue. Rental and other services added $0.21B year over year (up 15%), 94% of the total change.
Operating profit was $0.27B, a 16.4% margin (up 2.4 points year over year). Of the extra revenue versus Q1 2025, 31% reached operating profit, above the 14% margin then. Total costs grew 13% against revenue growth of 16%. The fastest-growing cost line was General & admin (+25%). Net earnings were $0.18B, up 63% year over year ($0.17B including minority interests, which bore $4.5M of losses). The effective tax rate was 8.4%.
Operating cash flow was $0.53B (up 33% year over year), 305% of net income including minority interests. Non-cash charges added back $0.50B of depreciation and amortization. Working capital and other items used $0.14B. Capital expenditures of $0.87B exceeded it, leaving free cash flow of −$0.34B.
Questions
What was Digital Realty Trust's revenue in the first quarter 2026?
Digital Realty Trust (DLR) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +16% from a year earlier and 0% from the quarter before.
Was Digital Realty Trust profitable in the first quarter 2026?
Operating profit was $268M (16.4% of revenue) and net earnings $179M.