Q1 27 EPS
$4.86
BEAT +63.99%
Est. $2.96
Q1 27 Revenue
$43.84B
BEAT +22.58%
Est. $35.77B
vs S&P Since Q1 27
+30.3%
BEATING MARKET
DELL +29.0% vs S&P -1.3%
Market Reaction
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 f… Read more 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
DELL 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, source: SEC Filings
DELL Revenue by Segment
With YoY comparisons, source: SEC Filings
DELL Earnings Trends
DELL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DELL EPS Trend
Earnings per share: estimate vs actual
DELL Revenue Trend
Quarterly revenue: estimate vs actual
DELL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $2.96 | $4.86 | +63.99% | $43.84B | +22.58% |
| Q4 26 BEAT FY | $3.51 | $3.89 | +10.74% | $33.38B | +5.52% |
| FY Full Year | $9.90 | $10.30 | +4.09% | $113.54B | +1.51% |
| Q3 26 BEAT | $2.48 | $2.59 | +4.46% | $27.01B | -1.03% |
| Q2 26 BEAT | $2.29 | $2.32 | +1.13% | $29.78B | +2.00% |
| Q1 26 MISS | $1.69 | $1.55 | -8.38% | $23.38B | +0.80% |