Filing Flows › Digital Realty Trust (DLR) › Q2 2026 › vs Q2 2025
Digital Realty Trust (DLR) Q2 2026 vs Q2 2025 (year over year)
Digital Realty Trust's revenue rose $431M (+29%) from $1.5B in Q2 2025 to $1.9B in Q2 2026. The biggest changes: Rental and other services +$217M (+15%); Fee income and other +$214M (+597%). Operating margin 24.3% against 76.6% (-52.3 pts).
Digital Realty Trust, Q2 2026: revenue $1.9B (+29% year over year), operating margin 24.3%, net earnings $453M, operating cash flow $1.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.3% | 76.6% | -52.3 pts |
| Net margin | 23.6% | 69.1% | -45.6 pts |
| Free cash flow margin | 7.7% | -4.2% | +11.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Rental and other services | $1.7B | $1.5B | $217M | +15% |
| Fee income and other | $249M | $35.8M | $214M | +597% |
| Revenue | $1.9B | $1.5B | $431M | +29% |
| Other income, net | $24.0M | −$83.7M | $108M | — |
| Operating profit | $467M | $1.1B | −$676M | -59% |
| Costs & expenses | $1.5B | $350M | $1.1B | +317% |
| Pre-tax earnings | $491M | $1.1B | −$569M | -54% |
| General & admin | $158M | $136M | $21.7M | +16% |
| Other operating costs | $1.3B | $214M | $1.1B | +508% |
| Net earnings | $453M | $1.0B | −$579M | -56% |
| Minority interests | $4.3M | $14.8M | −$10.5M | -71% |
| Income tax | $33.7M | $12.9M | $20.8M | +161% |
| Depreciation & amortization | $507M | $461M | $45.9M | +10% |
| Working capital & other | $102M | −$852M | $954M | — |
| Operating cash flow | $1.1B | $641M | $422M | +66% |
| Free cash flow (OCF − capex) | $149M | −$63.1M | $212M | — |
| Capital expenditures | $914M | $704M | $210M | +30% |
Questions
How much did Digital Realty Trust's revenue grow year over year in Q2 2026?
Digital Realty Trust's revenue rose $431M (+29%) from $1.5B in Q2 2025 to $1.9B in Q2 2026.
What drove Digital Realty Trust's revenue change in Q2 2026?
Rental and other services +$217M (+15%); Fee income and other +$214M (+597%).