DigitalBridge Raised $9B in Q4 as Financials Beat Earnings Expectations
By Amanda Schiavo February 20, 2025 1:04 pm
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Shares of DigitalBridge were trading higher by 10 percent Thursday morning after the global digital infrastructure investment firm’s financial results beat analysts’ expectations in the fourth quarter and it pulled in record fundraising.
DigitalBridge posted earnings of 11 cents per share, beating the 8 cents per share that Zacks analysts had anticipated for the fourth quarter. That’s also an improvement from the 6 cents per share the company reported in the third quarter of 2024 and the 10 cents per share it reported for the same period last year.
But the news wasn’t all positive, as revenue missed analysts’ expectations and slid year-over-year. DigitalBridge posted revenue of $66.2 million in the fourth quarter, lower than the $93.9 million the Associated Press reported analysts were expecting. Year-over-year, revenue had a massive drop from the $350 million DigitalBridge pulled in 2023.
Still, DigitalBridge delivered a strong fundraising performance for 2024, which CEO Marc Ganzi called “the lifeblood of our platform” during Thursday morning’s earnings conference call. The company reported record fundraising of $9 billion in the fourth quarter alone, 28 percent higher than its target of $7 billion.
“The composition of our fundraising not only impacted our ability to achieve our earnings targets, but also highlights co-investment strategic relevance to our platform,” Ganzi said. “We definitely raised a lot more co-invest than we planned at the beginning of the year. Why did this happen? Well, first and foremost, it was driven by strong bookings growth across our data center companies responding to artificial intelligence and cloud demand.”
Looking ahead to 2025, DigitalBridge has three main goals to help improve its financial performance: fundraising, investing, and scaling the business.
“When we are successful in these three arenas, it allows us to really deliver on our mission statement, to be the infrastructure partner to the digital economy,” Ganzi said during the call. “Raising and deploying capital successfully gives us the global scale that drives efficiency, growth and market presence. At the end of the day, this allows us to show up for our customers where they need us.”
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
