Dell FY27 Q2: revenue up 58.0% to $47.0 billion, EPS $6.34
Dell's fiscal 2027 second quarter was a blowout: revenue of $46.97 billion, net income of $4.13 billion and GAAP EPS of $6.34, with full-year revenue guidance raised to $192.0 billion. The catch is that the next-quarter revenue guide of $49.0 billion sits just below the $50.15 billion consensus estimate, and free cash flow fell 47.0%. Read the growth as real, but watch the working-capital build that funded it.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $6.34 rose 273.0% from $1.70, and non-GAAP diluted EPS of $7.04 rose 203.0% from $2.32. The $0.70 gap is mostly stock-based compensation of $0.28 and other corporate expenses of $0.39, plus $0.15 of intangible amortization, partly offset by $0.11 of equity-investment fair-value gains stripped out of the non-GAAP number. Reported net income was $4.133 billion, or 8.8% of revenue, versus 3.9% a year ago, so the profit gain is broader than cost-cutting.
Revenue was $46.971 billion, up 58.0% from $29.776 billion a year earlier. The engine is Infrastructure Solutions Group at $31.782 billion, up 89.0%, inside which AI-optimized servers reached $16.401 billion, up 100.0%, and traditional servers and networking reached $10.531 billion, up 122.0%. Client Solutions Group added $15.034 billion, up 20.0%, so this is not a single-product story, though product revenue of $41.112 billion grew 72.0% while services were flat at $5.859 billion.
Dell guided third-quarter revenue to $49.0 billion, up 81.0% year over year, with GAAP EPS of $6.10 and non-GAAP EPS of $6.50. For the full year it raised revenue guidance to $192.0 billion from $167.0 billion, up 69.0%, with GAAP EPS of $24.37 and non-GAAP EPS of $25.50, and lifted AI-optimized server revenue guidance to $74.0 billion from $60.0 billion. The raised full-year number implies roughly $101.19 billion of second-half revenue on top of the $90.813 billion already booked in the first half.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-18
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