Digitalbridge Group, Inc. ( (DBRG) ) has released its Q3 earnings. Here is a breakdown of the information Digitalbridge Group, Inc. presented to its investors.
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DigitalBridge Group, Inc. is a leading global digital infrastructure investment firm known for managing and developing data centers, towers, and other digital assets. In its latest earnings report for the third quarter of 2024, DigitalBridge announced total revenues of $76 million and a net loss of $1 million attributable to common stockholders. A key highlight is the company’s strong management fee revenue growth, which increased 16% year-over-year. Fee-related earnings also rose significantly by 42% as the company continues to expand its digital infrastructure investments, including significant acquisitions and fundraising efforts.
The company reported Fee-Earning Equity Under Management (FEEUM) of $34.1 billion, marking a 14% increase from the previous year. Despite a reported net loss, DigitalBridge demonstrated robust revenue from its management fees and fee-related earnings, driven by its strategic focus on AI infrastructure investments. Notably, distributable earnings were lower compared to the previous year, attributed to a decrease in realized carried interest.
Strategically, DigitalBridge is on track to meet its ambitious $7 billion capital formation target for the year, having already raised $6.1 billion by the end of October 2024. The company is actively deploying capital across its AI infrastructure ecosystem, with substantial investments in data centers and tower verticals, reflecting its ongoing commitment to digital infrastructure.
Looking forward, DigitalBridge maintains a positive outlook, focusing on continued growth in fee revenue and fee-related earnings. The management remains optimistic about achieving long-term targets and expanding its leading digital infrastructure investment platform, while continuing to assess strategic acquisition opportunities to bolster its portfolio.
