Digital Realty’s third quarter was a bookings quarter. Total revenue was 1.902 billion dollars, 21 percent above the same quarter last year, Core FFO was 2.10 dollars a share excluding net promote income, against 1.89 dollars in the third quarter of 2025 and 2.13 dollars in the second quarter of 2026, and adjusted EBITDA was 978 million dollars, up 13 percent on the year. Net income available to common stockholders was 185 million dollars, or 0.48 dollars a diluted share.
Leasing set the records. Total bookings were 855 million dollars of annualized GAAP base rent at 100 percent share, 267.2 megawatts, and 627 million dollars at Digital Realty’s share, including a record 152 million dollars in the 0 to 1 megawatt and interconnection category. The signed but not yet commenced backlog reached a record 2.5 billion dollars at 100 percent share, 1.8 billion at the company’s share, with a weighted average lag of 17 months between signing and commencement. Portfolio occupancy ended the quarter at 91.1 percent, up from 90.2 percent at June 30, and renewal leases signed in the quarter carried rent increases of 11.8 percent on a cash basis.
Management raised the 2026 outlook on the strength of it. Core FFO per share guidance moved to between 8.30 and 8.35 dollars, from between 8.15 and 8.20 dollars on July 23, total revenue guidance excluding promote income rose to between 7.050 and 7.125 billion dollars, from between 6.850 and 6.950 billion, and adjusted EBITDA guidance rose to between 3.800 and 3.850 billion dollars. The one line cut was net income per diluted share, lowered to between 2.90 and 2.95 dollars from between 3.10 and 3.15 dollars. Net debt stood at 5.2 times adjusted EBITDA.