Digital Realty reported net income for the third quarter of 2012 of $56.9m, compared to $37.7m last year’s Q3. and $54m Q2 2012. 

Net income available to common stockholders in Q3 of 2012 was $45.6m, or $0.37 per share, compared to $31.9m, or $0.31 per share, in Q3 2011 and $42m, or $0.38 per share, this year’s Q2.

As a REIT Digital Realty reports funds from operations – in DRT’s words this is a supplemental non-GAAP performance measure used by the real estate industry to measure the operating performance of real estate investment trusts. FFO and core FFO should not be considered as substitutes for net income determined in accordance with U.S. GAAP as measures of financial performance, it said.
 

The Company reported total operating revenues of $342.5 million in Q3 2012, up 25.2% from $273.5m in Q3 2011 and up 12.8% from $303.7m Q2 2012.

"We are very pleased with our third quarter performance and believe that it once again demonstrates the resilience of our business model, particularly during challenging economic conditions," said Michael F. Foust, Chief Executive Officer of Digital Realty.  "Our global footprint and customer relationships, strong balance sheet and access to attractively priced capital combined with our acquisition and development expertise, have continued to generate earnings growth for our shareholders." 

The company said it signed leases during Q3, including colocation space, expected to generate approximately $27m in annualized GAAP rental revenue;

• It commenced leases during Q3 2012, including colocation space, totaling approximately $26.9 m of annualized GAAP rental revenue; and
• It narrowed 2012 FFO guidance range to between $4.40 and $4.44 per share. 

Early trading saw the firm's share price off by over 5% at around the $59.9 mark - close to its 52 week low.