Digital Realty Trust, Inc. (DLR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

good afternoon and welcome to the digital realty first quarter 2025 earnings call please note this event is being recorded during today's presentation all parties will be in listen only mode following the presentation we will conduct a question and answer session callers will be limited to one question and we will aim to conclude at the top of the hour i would now like to turn the call over to jordan sadler Digital Realty Senior Vice President of Public and Private Investor Relations. Jordan, please go ahead. Thank you, Operator, and welcome everyone to Digital Realty's first quarter 2025 earnings conference call. Joining me on today's call are President and CEO Andy Power and CFO Matt Mercier. Chief Investment Officer Greg Wright, Chief Technology Officer Chris Sharp, and Chief Revenue Officer Colin McLean are also on the call and will be available for Q&A. Management will be making forward-looking statements, including guidance and underlying assumptions on today's call. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, see our 10-K and subsequent filings with the SEC. This call will contain non-GAAP financial information, reconciliations to the most directly comparable GAAP measure, are included in the supplemental package, furnished to the SEC, and available on our website. Before I turn the call over to Andy, let me offer a few key takeaways from our first quarter results. First, we posted strong overall leasing in the first quarter of $242 million, consistent with the record pace set in 2024, and driving our backlog of book-not-billed leases to a new record of $919 million. The activity was robust across our pr...