Inferra AI / Company / DELL
Dell Technologies
DELL · Information Technology
Last earnings Sep 1, 2026
Key results
Record revenuequarter
$29.8 billion
Record revenue of $29.8 billion, up 19% year over year
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Growthquarter
up 19%
Record revenue of $29.8 billion, up 19% year over year
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Operating incomequarter
$1.8 billion
Operating income of $1.8 billion, up 27% year over year, and non-GAAP
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
EPSquarter
10%
operating income of $2.3 billion, up 10% Diluted earnings per share (EPS) of $1.70, up 38% year over year, and record second-quarter non-GAAP
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
diluted EPS of $2.32, up 19% Cash flow from operations of $2.5 billion In Q2, we achieved strong top-line results and profitability, reaching record
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Revenuequarter
$29.8 billion
revenue of $29.8 billion, said Yvonne McGill, chief financial officer, Dell Technologies.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Networking revenuequarter
$12.9 billion
Infrastructure Solutions Group (ISG) Record revenue $16.8 billion, up 44% year over year Record Servers and Networking revenue $12.9 billion, up 69% Storage revenue $3.9 billion, down 3% Second-quarter record operating income $1.5 billion, up 14% year over year Client Solutions Group (CSG) Revenue $12.5 billion, up 1% year over year Commercial Client revenue $10.8 billion, up 2% Consumer revenue $1.7 billion, down 7% Operating income $803 million, down 2% year over year Capital Return Dell Technologies returned $1.3 billion to shareholders in the second quarter through share repurchases and dividends.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Storage revenuequarter
69%
Infrastructure Solutions Group (ISG) Record revenue $16.8 billion, up 44% year over year Record Servers and Networking revenue $12.9 billion, up 69% Storage revenue $3.9 billion, down 3% Second-quarter record operating income $1.5 billion, up 14% year over year Client Solutions Group (CSG) Revenue $12.5 billion, up 1% year over year Commercial Client revenue $10.8 billion, up 2% Consumer revenue $1.7 billion, down 7% Operating income $803 million, down 2% year over year Capital Return Dell Technologies returned $1.3 billion to shareholders in the second quarter through share repurchases and dividends.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Total Net revenuequarter
31%
$ 1,164 $ 887 31% $ 2,129 $ 1,884 13% Percentage of Total Net Revenue Gross margin 18.3 % 21.4 % 19.5 % 21.6 % Selling, general, and administrative 9.7 % 12.7 % 11.0 % 13.3 % Research and development 2.6 % 3.1 % 3.0 % 3.3 % Operating expenses 12.3 % 15.8 % 14.0 % 16.6 % Operating income 6.0 % 5.6 % 5.5 % 5.0 % Income before income taxes 4.8 % 4.2 % 4.7 % 3.5 % Net income 3.9 % 3.5 % 4.0 % 4.0 % Income tax rate 19.2 % 15.1 % 15.6 % (14.9) % Amounts are based on underlying data and may not visually foot due to rounding.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
diluted $ 1.70 $ 1.23 38 % $ 3.07 $ 2.60 18 % Non-GAAP adjustments Amortization of intangibles 0.19 0.23 0.36 0.46 Stock-based compensation expense 0.26 0.26 0.53 0.55 Other corporate expenses 0.29 0.46 0.21 0.69 Fair value adjustments on equity investments (0.01) (0.01) (0.03) 0.04 Aggregate adjustment for income taxes (a) (0.11) (0.21) (0.28) (1.05) Total non-GAAP adjustments attributable to non-controlling interests (0.01) (0.02) Non-GAAP earnings per share attributable to Dell Technologies Inc.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Gross marginquarter
18.3 %
Gross margin 18.3 % 21.4 % 19.5 % 21.6 %
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Selling, general, and administrativequarter
9.7 %
Selling, general, and administrative 9.7 % 12.7 % 11.0 % 13.3 %
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Research and developmentquarter
2.6 %
Research and development 2.6 % 3.1 % 3.0 % 3.3 %
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Operating expensesquarter
12.3 %
Operating expenses 12.3 % 15.8 % 14.0 % 16.6 %
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
AI analysis
Q2 FY2026 · reported Aug 28, 2025
Based on: Earnings release + Q2 FY2026 deck + parent 8-K + 10-Q — transcript not held
The quarter in charts
Segment mix
Business-unit revenue, as stated
Segment revenue figures as stated in the event record.
Headline figures
| Metric | Q2 FY2026 | Prior qtr | Year ago |
|---|---|---|---|
| Record revenue | $29.8 billion | — | — |
| Growth | up 19% | — | — |
| Operating income | $1.8 billion | — | — |
| EPS | 10% | — | — |
| Revenue | $29.8 billion | — | — |
| Networking revenue | $12.9 billion | — | — |
| Storage revenue | 69% | — | — |
| Total Net revenue | 31% | — | — |
Guidance · company-stated
Direction: Raised
“Demand for our AI solutions continues to be exceptional, and we re raising our AI server shipment guidance for FY26 to $20 billion dollars.”
Classified from the release's primary full-year outlook statement.
Margin
Capital allocation
Infrastructure Solutions Group (ISG) Record revenue $16.8 billion, up 44% year over year Record Servers and Networking revenue $12.9 billion, up 69% Storage revenue $3.9 billion, down 3% Second-quarter record operating income $1.5 billion, up 14% year over year Client Solutions Group (CSG) Revenue $12.5 billion, up 1% year over year Commercial Client revenue $10.8 billion, up 2% Consumer revenue $1.7 billion, down 7% Operating income $803 million, down 2% year over year Capital Return Dell Technologies returned $1.3 billion to shareholders in the second quarter through share repurchases and dividends.
Event summary
Dell Technologies Delivers Second Quarter Fiscal 2026 Financial Results ROUND ROCK, Texas August 28, 2025 Dell Technologies (NYSE DELL) announces financial results for its fiscal 2026 second quarter
Based on: Earnings release + Q2 FY2026 deck + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Raised
Company outlook: “Demand for our AI solutions continues to be exceptional, and we re raising our AI server shipment guidance for FY26 to $20 billion dollars.”
Company outlook — Raised (“raising”)
“Demand for our AI solutions continues to be exceptional, and we re raising our AI server shipment guidance for FY26 to $20 billion dollars.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Infrastructure Solutions Group (ISG) Record revenue $16.8 billion, up 44% year over year Record Servers and Networking revenue $12.9 billion, up 69% Storage revenue $3.9 billion, down 3% Second-quarter record operating income $1.5 billion, up 14% year over year Client Solutions Group (CSG) Revenue $12.5 billion, up 1% year over year Commercial Client revenue $10.8 billion, up 2% Consumer revenue $1.7 billion, down 7% Operating income $803 million, down 2% year over year Capital Return Dell Technologies returned $1.3 billion to shareholders in the second quarter through share repurchases and dividends.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
(c) Equipment under operating leases represents the net impact of capital expenditures and depreciation expense for leases and contractually embedded leases identified within flexible consumption arrangements.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued) (unaudited) NOTE 3 INVESTMENTS The Company has strategic investments in equity and other securities as well as immaterial investments in fixed income debt securities that are recorded as long-term investments in the Condensed Consolidated Statements of Financial Position.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
The fair value of the fixed-term loan portfolio is determined using market observable inputs.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
The majority of DFS debt is non-recourse to Dell Technologies and represents borrowings under securitization programs and structured financing programs for which the Company s risk of loss is limited to transferred lease and loan payments and associated equipment.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
The following table presents DFS debt as of the dates indicated and excludes the allocated portion of the Company s other borrowings, which represents the additional amount considered to fund the DFS business: July 31, 2026 January 30, 2026 (in millions) DFS U.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
Strategy & priorities
Forward-looking statements include, among others, any statements regarding Dell Technologies expectations for third-quarter and full-year fiscal 2026 revenue, GAAP diluted earnings per share and non-GAAP diluted earnings per share, and any other statements regarding Dell Technologies prospects and its future operations, financial condition, volumes, cash flows, expenses or other financial items, including management s plans or strategies and objectives for any of the foregoing and any assumptions, expectations or beliefs underlying any of the foregoing.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
(c) No estimates are included for potential fair value adjustments on strategic investments given the potential volatility of either gains or losses on those equity investments.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
All statements by us regarding our expected financial position, revenues, cash flows and other operating results, business strategy, legal proceedings, and similar matters are forward-looking statements.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
Marketable Equity and Other Securities The Company s investments in equity and other securities that are measured at fair value on a recurring basis consist of strategic investments in publicly-traded companies.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
These assets consist primarily of financial assets such as the Company s strategic investments in non-marketable equity and other securities and non-financial assets such as goodwill and intangible assets.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
Risks & headwinds
This list of risks, uncertainties, and other factors is not complete.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release.
SEC original ↗Dell Technologies — Earnings release (8-K exhibit)EX-99Aug 28, 2025
All statements by us regarding our expected financial position, revenues, cash flows and other operating results, business strategy, legal proceedings, and similar matters are forward-looking statements.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
Legal Proceedings 69 Item 1A.
SEC original ↗Dell Technologies — 10-Q Quarterly report10-QSep 8, 2026
Earnings deck slides
7 decks with slide viewCompetitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
56 documents- Q2 FY27
- 8-KDELL
Oct 21, 2026
- Q2 2026
- 8-KDELL
Sep 15, 2026
- 8-KDELL
Sep 10, 2026
- 10-QDELL
Sep 8, 2026
- 8-KDELL
Sep 1, 2026
- 8-KDELL
Jul 6, 2026
- 8-KDELL
Jul 1, 2026
- Q1 2026
- 8-KDELL
Jun 17, 2026
- 8-KDELL
Jun 16, 2026
- 8-KDELL
Jun 12, 2026
- 8-KDELL
Jun 10, 2026
- 10-QDELL
Jun 9, 2026
- 8-KDELL
May 28, 2026
- 8-KDELL
Apr 20, 2026
- Q4 2025
- 10-KDELL
Mar 16, 2026
- 8-KDELL
Feb 26, 2026
- Q3 2025
- 10-QDELL
Dec 9, 2025
- 8-K/ADELL
Nov 25, 2025
- 8-KDELL
Nov 25, 2025
- 8-K/ADELL
Oct 17, 2025
- 8-KDELL
Oct 7, 2025
- 8-KDELL
Oct 6, 2025
- 8-K/ADELL
Oct 2, 2025
- 8-KDELL
Oct 2, 2025
- Q2 2025
- 8-KDELL
Sep 26, 2025
- 8-KDELL
Sep 23, 2025
- 8-KDELL
Sep 8, 2025
- 10-QDELL
Sep 8, 2025
- 8-KDELL
Aug 28, 2025
- 8-KDELL
Aug 12, 2025
- 8-KDELL
Jul 16, 2025
- 8-KDELL
Jul 1, 2025
- Q1 2025
- 10-QDELL
Jun 10, 2025
- 8-KDELL
May 29, 2025
- 8-KDELL
Apr 1, 2025
- Q4 2024
- 8-KDELL
Mar 27, 2025
- 10-KDELL
Mar 25, 2025
- 8-KDELL
Feb 27, 2025
- 8-KDELL
Jan 14, 2025
- Q3 2024
- 10-QDELL
Dec 10, 2024
- 8-KDELL
Dec 3, 2024
- 8-KDELL
Nov 26, 2024
- 8-KDELL
Oct 8, 2024
- 8-KDELL
Oct 2, 2024
- EX-99DELL
Oct 2, 2024
- Q2 2024
- 8-KDELL
Sep 19, 2024
- 10-QDELL
Sep 10, 2024
- 8-KDELL
Aug 29, 2024
- 8-KDELL
Jul 12, 2024
- 8-KDELL
Jul 2, 2024
- Q1 2024
- 10-QDELL
Jun 11, 2024
- 8-KDELL
Jun 10, 2024
- 8-KDELL
May 30, 2024
- Q4 2023
- 8-KDELL
Mar 26, 2024
- 10-KDELL
Mar 25, 2024
- 8-KDELL
Mar 18, 2024
Earnings releases
13 documentsPresentations
7 documents
Transcripts
0 documentsNo transcripts for Dell Technologies are held in this edition of the library.
Mentioned by
5 companiesOther tracked companies whose held documents mention Dell Technologies by name or ticker. A mention is counted once per document, from the document text the library holds.
“IDIA Spectrum-X™ Ethernet networking platform for AI will be integrated into servers from Dell Technologies, Hewlett Packard … …are creating custom AI to automate the world’s largest industries. “NVIDIA GPUs, CPUs, networking, AI foundry services and”
“B $6.9B Capital… …tax expense, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. - basic and non-GAAP earnings per share attributable to Dell… …therma”
“al gas utilities serve 1.6 million customers in North Carolina, South… …21-year tenure at Dell Technologies, leading a broad range of organizations including sales, operations, supply chain, partner strategy, services delivery, and logistics. Prior t”
“…channel partners; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions and divestitures; access to the capital markets by Dell Techn”
“oes not include estimates for potential acquisitions, if any, … …to, statements regarding Dell Technologies’ expectations concerning long-term earnings per share - basic and non-GAAP earnings per share - diluted, as well as free revenue and non-GAAP ”
See also the earnings calendar for every tracked company’s next earnings date.