CAPRE Digital Infrastructure Weekly Roundup for October 26: Top Stories in Hyperscale, Colocation, Edge, 5G & Networking
QTS Reports Third Quarter 2020 Operating Results: QTS Realty Trust, Inc. ("QTS" or the "Company") (NYSE: QTS) today announced operating results for the third quarter ended September 30, 2020. QTS recognized net income of $6.9 million in the third quarter of 2020 compared to net income of $6.6 million recognized in the third quarter of 2019. Net loss attributable to common stockholders recognized in the third quarter of 2020 was $0.1 million compared to net loss attributable to common stockholders of $0.4 million recognized in the third quarter of 2019. QTS generated total revenues of $137.5 million in the third quarter of 2020, an increase of 9.8% compared to total revenue of $125.3 million in the third quarter of 2019. MRR as of September 30, 2020 was $36.9 million compared to MRR as of September 30, 2019 of $33.0 million. QTS generated $76.0 million of Adjusted EBITDA in the third quarter of 2020, an increase of 20.6% compared to Adjusted EBITDA of $63.0 million for the third quarter of 2019. Adjusted EBITDA during the third quarter of 2020 benefited from a reduction in utility rates as well as reduced corporate travel expense as a result of the COVID-19 pandemic. The combination of lower utility rates net of recoveries and corporate travel expenses, net of other additional COVID-related expenses, resulted in a benefit to QTS' third quarter 2020 Adjusted EBITDA results of approximately $1 million, which is consistent with the expectations…
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