Companies /Technology

Dell Technologies Inc - Class C

NYSE: DELL Computer Hardware
$572.60
▲ $4.54 (+0.80%) today
Markets open · 12:58pm ET

Q2 2027 Earnings

Reported Sep 1, 2026, 4:10pm ET · SEC source
$7.04
Beat +43.69%
EPS · est. $4.90 Adjusted
$47.0B
Beat +5.69%
Revenue · est. $44.4B
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%Sep 1Sep 2report 4:10pm ETearnings+0.5%+5.3%
−5%0+5%Sep 1Sep 2earnings+0.5%+5.3%
DELL +5.3%S&P 500 +0.5%
−5%0+5%Sep 1Sep 2report 4:10pm ETearnings+0.2%+5.3%
−5%0+5%Sep 1Sep 2earnings+0.2%+5.3%
DELL +5.3%NASDAQ +0.2%
−9%0+9%+18%Aug 31Sep 9report 4:10pm ETearnings+0.1%+15.3%
−9%0+9%+18%Aug 31Sep 9earnings+0.1%+15.3%
DELL +15.3%S&P 500 +0.1%
−9%0+9%+18%Aug 31Sep 9report 4:10pm ETearnings+1.2%+15.3%
−9%0+9%+18%Aug 31Sep 9earnings+1.2%+15.3%
DELL +15.3%NASDAQ +1.2%
+15.81%
Day of report
+4.91%
Next session
+2.93%
One week

Did DELL Beat Earnings? Q2 2027 Results

Dell Technologies delivered a blowout fiscal second quarter for 2027, posting adjusted EPS of $7.04, beating the $4.90 consensus by 43.69%, and extending its streak of consecutive quarterly EPS beats to four. Revenue of $46.97 billion exceeded the $44.44 billion estimate by 5.69% and grew 57.8% year over year, powered almost entirely by a ferocious acceleration in AI infrastructure demand. The company's AI-Optimized Servers alone generated $16.40 billion in revenue, doubling year over year, while record orders of $60.90 billion pushed the ending backlog to $95.00 billion, signaling that the demand wave shows no signs of retreating. The Infrastructure Solutions Group as a whole contributed $31.78 billion in revenue, up 89%, with operating income surging 225% to $4.78 billion. Looking ahead, Dell raised its full-year FY27 revenue guidance by $25.00 billion to $192.00 billion, up 69% year over year, with AI-Optimized Servers projected to reach $74.00 billion, while full-year non-GAAP EPS guidance of $25.50 reflects management's confidence in continued, broad-based momentum across its portfolio.

Key Takeaways
  • AI-Optimized Servers revenue doubled year over year to $16.4 billion with record $60.9 billion in orders
  • AI server backlog reached a record $95 billion
  • Traditional Servers and Networking revenue surged 122% year over year
  • Storage revenue grew 26% year over year
  • Commercial Client revenue grew 22% year over year
  • Non-GAAP operating margin expanded to 12.6% from 7.7% year over year
  • ISG operating margin expanded to 15.0% from 8.8% year over year

“IT environments have shifted from cost centers to value drivers that fuel growth and competitive advantage, and customers are investing accordingly – creating opportunity across our portfolio. That's clearest in our AI server business where we booked a record $60.9 billion in orders, recognized a record $16.4 billion in revenue and exited the quarter with a record $95 billion backlog. We're seeing broader revenue growth as well, with traditional servers and networking up 122%, storage up 26% and our client solutions up 20% year over year. Our second quarter results underscore the compounding benefits of our competitive advantages, the breadth of our portfolio and the strength of our operating model.”

Dell Technologies CEO, on the earnings call

Forward Guidance & Outlook

Dell raised its full-year FY27 revenue guidance by $25 billion to $192.0 billion (up 69% YoY), with AI-Optimized Servers revenue expected at $74.0 billion (up 200% YoY). Full-year GAAP diluted EPS guidance was raised to $24.37 (up 181% YoY) and non-GAAP diluted EPS to $25.50 (up 148% YoY). For Q3 FY27, the company guides revenue of $49.0 billion (up 81% YoY), GAAP diluted EPS of $6.10 (up 168% YoY), and non-GAAP diluted EPS of $6.50 (up 151% YoY). Management highlighted accelerating AI momentum and expanding opportunity across the full portfolio as drivers of the raised outlook.

DELL YoY Financials

Q2 2027 vs Q2 2026 · SEC filings Q2 2026 Q2 2027
$0$20.0B$40.0B$29.8B$47.0BRevenue$5.4B$9.8BGross Profit$1.8B$5.4BOperating Income$1.2B$4.1BNet Income
$0$20.0B$40.0BRevenueGross ProfitOperating IncomeNet Income

DELL Revenue by Segment

Infrastructure Solutions Group$31.8B+89.0%
AI-Optimized Servers$16.4B+100.0%
Client Solutions Group$15.0B+20.0%
Commercial Client$13.2B+22.0%
Traditional Servers and Networking$10.5B+122.0%
Services
Storage$4.9B+26.0%
Consumer Client$1.8B+7.0%

Figures from SEC filings and company reports. Not investment advice.