DELL Q2 2026

Q4 2026 Q3 2026 Q2 2026 Q1 2026

Earnings

Dell Technologies delivered a record-breaking Q2 FY26, beating Wall Street on both top and bottom lines as its AI infrastructure buildout continued to redefine the company's revenue profile. Non-GAAP diluted EPS came in at $2.32, edging past the $2.2… Read more Dell Technologies delivered a record-breaking Q2 FY26, beating Wall Street on both top and bottom lines as its AI infrastructure buildout continued to redefine the company's revenue profile. Non-GAAP diluted EPS came in at $2.32, edging past the $2.29 consensus by 1.13%, while revenue surged 19% year over year to $29.78 billion against an expected $29.19 billion. The single biggest force behind the quarter was an explosive 69% jump in Servers and Networking revenue to a record $12.94 billion, with Dell shipping $10.00 billion in AI solutions through just the first half of FY26, more than it shipped in all of FY25. Those numbers heading into earnings raised the stakes considerably, and Dell largely delivered. The trade-off, however, is visible in gross margins, which compressed to 18.3% from 21.4% a year ago, reflecting the lower-margin nature of AI server hardware. Looking ahead, Dell raised its full-year AI server shipment guidance to $20.00 billion and set FY26 revenue guidance at $105.00 billion to $109.00 billion, with non-GAAP EPS of $9.55 at the midpoint.