Filing Flows › Digital Realty Trust (DLR) › Q2 2025
Digital Realty Trust (DLR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Digital Realty Trust (DLR) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +6% from the quarter before. Operating margin was 14.2%, net earnings $1.0B (69.1% of revenue).
Digital Realty Trust, Q2 2025: revenue $1.5B (+10% year over year), operating margin 14.2%, net earnings $1.0B, operating cash flow $641M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +6% | +10% |
| Operating profit | $212M | +8% | 21× |
| Net earnings | $1.0B | +839% | 13× |
| Operating cash flow | $641M | +61% | +12% |
What changed
Revenue was $1.5B in Q2 2025, up 10% year over year and up 6% from the previous quarter. Rental and other services was the largest line at 98% of revenue. Rental and other services added $0.12B year over year (up 9%), 87% of the total change.
Operating profit was $0.21B, a 14.2% margin (up 13.4 points year over year). Of the extra revenue versus a year earlier, 148% reached operating profit, above the 1% margin then. Total costs fell 5% while revenue rose 10%. The fastest-growing cost line was General & admin (+13%). Net earnings were $1.0B, up 1187% year over year. The effective tax rate was 1.2%. Non-operating items added $0.85B, 80% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.64B (up 12% year over year), 61% of net earnings. Non-cash charges added back $0.46B of depreciation and amortization. Working capital and other items used $0.87B. Capital expenditures of $0.70B exceeded it, leaving free cash flow of −$0.06B.
Questions
What was Digital Realty Trust's revenue in the second quarter 2025?
Digital Realty Trust (DLR) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +10% from a year earlier and +6% from the quarter before.
Was Digital Realty Trust profitable in the second quarter 2025?
Operating profit was $212M (14.2% of revenue) and net earnings $1.0B.