2024-05-02 21:12:13 ET
Digital Realty Trust, Inc. (DLR)
Q1 2024 Earnings Conference Call
May 2, 2024 05:00 PM ET
Company Participants
Jordan Sadler - SVP, Public & Private IR
Andrew Power - President & CEO
Matthew Mercier - CFO
Christopher Sharp - Chief Technology Officer
Colin McLean - Chief Revenue Officer
Gregory Wright - Chief Investment Officer
Conference Call Participants
John Peterson - Jefferies
Jonathan Atkin - RBC Capital Markets
Eric Luebchow - Wells Fargo
David Barden - Bank of America
Irvin Liu - Evercore ISI
Richard Choe - J.P. Morgan
Michael Rollins - Citi
Frank Louthan - Raymond James
Simon Flannery - Morgan Stanley
Ari Klein - BMO Capital Markets
Matthew Niknam - Deutsche Bank
Michael Elias - TD Cowen
Nick Del Deo - MoffettNathanson
Erik Rasmussen - Stifel
Presentation
Operator
Good afternoon, and welcome to the Digital Realty First Quarter 2024 Earnings Call. Please note that 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.
I would now like to turn the call over to Jordan Sadler, Digital Realty's Senior Vice President of Public and Private Investor Relations. Jordan, please go ahead.
Jordan Sadler
Thank you, operator, and welcome everyone to Digital Realty's first quarter 2024 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 of 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 net income 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. First, our customer value proposition continues to resonate as reflected by an AI-driven acceleration in leasing activity that drove our overall leasing volume to a new record. First quarter leasing was more than 40% above our prior record, principally driven by an improvement in pricing....
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Digital Realty Trust, Inc. (DLR) Q1 2024 Earnings Call Transcript