Filing Flows › Digital Realty Trust (DLR) › Q3 2025
Digital Realty Trust (DLR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Digital Realty Trust (DLR) reported revenue of $1.6B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +6% from the quarter before. Operating margin was 8.8%, net earnings $67.8M (4.3% of revenue).
Digital Realty Trust, Q3 2025: revenue $1.6B (+10% year over year), operating margin 8.8%, net earnings $67.8M, operating cash flow $653M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +6% | +10% |
| Operating profit | $138M | -35% | -18% |
| Net earnings | $67.8M | -93% | +32% |
| Operating cash flow | $653M | +2% | +15% |
What changed
Revenue was $1.6B in Q3 2025, up 10% year over year and up 6% from the previous quarter. Rental and other services was the largest line at 97% of revenue. Rental and other services added $0.12B year over year (up 9%), 84% of the total change.
Operating profit was $0.14B, a 8.8% margin (down 3.0 points year over year). Operating profit fell $0.03B even though revenue rose $0.15B versus a year earlier, so costs grew faster than sales. Total costs grew 14% against revenue growth of 10%. The fastest-growing cost line was General & admin (+20%). Net earnings were $0.07B, up 32% year over year ($0.06B including minority interests, which bore $4.1M of losses). The effective tax rate was 15.5%.
Operating cash flow was $0.65B (up 15% year over year), 1025% of net income including minority interests. Non-cash charges added back $0.50B of depreciation and amortization. Working capital and other items added $0.09B. Capital expenditures of $0.69B exceeded it, leaving free cash flow of −$0.03B.
Questions
What was Digital Realty Trust's revenue in the third quarter 2025?
Digital Realty Trust (DLR) reported revenue of $1.6B for the third quarter 2025 (Q3 2025), +10% from a year earlier and +6% from the quarter before.
Was Digital Realty Trust profitable in the third quarter 2025?
Operating profit was $138M (8.8% of revenue) and net earnings $67.8M.