Companies /Technology

Dell Technologies Inc - Class C

NYSE: DELL Computer Hardware
$456.01
▼ $0.23 (−0.05%) today
Markets closed · 6:45pm ET

Q1 2027 Earnings

Reported May 28, 2026, 4:15pm ET · SEC source
$4.86
Beat +63.99%
EPS · est. $2.96
$43.8B
Beat +22.58%
Revenue · est. $35.8B
+2.5%
Beating market
DELL vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−10%0+10%+20%May 28May 29report 4:15pm ETearnings+0.0%+15.2%
−10%0+10%+20%May 28May 29earnings+0.0%+15.2%
DELL +15.2%S&P 500 +0.0%
−10%0+10%+20%May 28May 29report 4:15pm ETearnings+0.2%+15.2%
−10%0+10%+20%May 28May 29earnings+0.2%+15.2%
DELL +15.2%NASDAQ +0.2%
−20%0+20%May 27Jun 5report 4:15pm ETearnings−2.7%+0.6%
−20%0+20%May 27Jun 5earnings−2.7%+0.6%
DELL +0.6%S&P 500 −2.7%
−20%0+20%May 27Jun 5report 4:15pm ETearnings−4.4%+0.6%
−20%0+20%May 27Jun 5earnings−4.4%+0.6%
DELL +0.6%NASDAQ −4.4%
+32.76%
Day of report
+10.70%
Next session
−6.30%
One week
+1.03%
30 days

S&P 500 over the same 30 days: −1.42%.

Did DELL Beat Earnings? Q1 2027 Results

Dell Technologies delivered a blowout fiscal first quarter of 2027, with revenue of $43.84 billion climbing 87.5% year over year and non-GAAP diluted EPS of $4.86 beating the $2.96 consensus estimate by nearly 64%, as insatiable enterprise appetite for AI infrastructure drove results well beyond expectations. The decisive engine behind the quarter was Dell's Infrastructure Solutions Group, where AI-optimized server revenue alone reached $16.13 billion, up 757% year over year, helping ISG overall generate $29.01 billion, a 181% increase. Dell booked $24.40 billion in AI orders during the quarter, a figure that underscores the scale of demand reshaping the company's revenue mix, even as the shift toward lower-margin AI servers pushed gross margin to 17.8% from 21.1% a year ago. The Client Solutions Group added $14.61 billion, up 17%, providing a steady complement to the AI-driven surge. Looking ahead, Dell raised its full-year FY27 revenue guidance to a range of $165.00 billion to $169.00 billion, roughly 47% growth at the midpoint, with AI server revenue now expected to reach approximately $60.00 billion for the full year.

Key Takeaways
  • AI-optimized server revenue surged 757% YoY to $16.1 billion, driven by strong in-quarter demand
  • $24.4 billion in AI orders booked during Q1
  • Traditional servers and networking revenue grew 92% YoY
  • Commercial client revenue grew 18% YoY to a record $13.0 billion
  • ISG operating margin expanded to 10.5% from 9.7%
  • CSG operating margin expanded to 8.0% from 5.2%
  • Strong execution across supply chain, sales, and pricing

Forward Guidance & Outlook

Dell raised its full-year FY27 revenue guidance to $165.0 billion to $169.0 billion, representing approximately 47% year-over-year growth at the midpoint of $167.0 billion. Full-year AI-optimized server revenue is now expected to be roughly $60 billion, up 144% year over year. Full-year GAAP diluted EPS is expected at $17.31 at the midpoint (up 99% YoY), and non-GAAP diluted EPS at $17.90 (up 74% YoY). For Q2 FY27, revenue is expected between $44.0 billion and $45.0 billion (up 49% YoY at the $44.5 billion midpoint), with GAAP diluted EPS of $4.48 at midpoint (up 164% YoY) and non-GAAP diluted EPS of $4.80 at midpoint (up 107% YoY).

DELL YoY Financials

Q1 2027 vs Q1 2026 · SEC filings Q1 2026 Q1 2027
$0$20.0B$40.0B$23.4B$43.8BRevenue$4.9B$7.8BGross Profit$1.2B$3.7BOperating Income$965.0M$3.4BNet Income
$0$20.0B$40.0BRevenueGross ProfitOperating IncomeNet Income

DELL Revenue by Segment

Infrastructure Solutions Group$29.0B+181.0%
Products
AI-Optimized Servers$16.1B+757.0%
Client Solutions Group$14.6B+17.0%
Commercial Client$13.0B+18.0%
Servers and Networking
Traditional Servers and Networking$8.5B+92.0%
Services

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