Digital Realty Trust
Q1 2022 Earnings Call
Apr 28, 2022, 5:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good afternoon, and welcome to the Digital Realty first quarter 2022 earnings call. Please note, this event is being recorded. [Operator instructions] 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 -- Senior Vice President of Public and Private Investor Relations
Thank you, operator, and welcome, everyone, to Digital Realty's first quarter 2022 earnings conference call. Joining me on today's call are CEO Bill Stein and President and CFO Andy Power. Chief Investment Officer Greg Wright, Chief Technology Officer Chris Sharp, and Chief Revenue Officer Corey Dyer are also on the call and will be available for Q&A. Management may make 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 net income are included in the supplemental package furnished to the SEC and available on our website.
Before I turn the call over to Bill, let me offer a few key takeaways from our first quarter. First, we kicked off the year on a high note with record bookings of $167 million, led by strength in the leases greater than one megawatt and supported by steady bookings in the zero to one megawatt and interconnection category. Second, we saw a notable and broad-based improvement in our releasing spreads in the quarter, reflecting a healthier pricing environment but also the active engagement we are having with customers on the Digital Realty value proposition. Third, we remain poised to continue our expansion in Africa with plans to close our investment in Teraco later this quarter.
And finally, our core FFO per share results exceeded consensus' expectations despite FX-related headwinds. With that, I'd like to turn the call over to our CEO Bill Stein.
Bill Stein -- Chief Executive Officer
Thanks, Jordan, and welcome to the Digital team. Our formula for long-term value creation is a global, connected, sustainable framework, and we made further progress on each front during the first quarter. First, we continue to globalize our business with the announcement of our definitive agreement to acquire a majority stake in Teraco in early January. We also continue to grow our business organically around the world.