Dell Technologies Reports Record Q2 Revenue of $29.8 Billion, Raises AI Server Guidance

Dell Technologies reported a record Q2 FY26 revenue of $29.8 billion, a 19% YoY increase. Operating income rose 27% to $1.8 billion, and non-GAAP operating income was up 10% to $2.3 billion. The company shipped $10 billion of AI solutions in H1 FY26 and raised its AI server shipment guidance to $20 billion for the full fiscal year. Dell expects FY26 revenue to be between $105 billion and $109 billion, a 12% YoY increase.

Dell Technologies (NYSE: DELL) has announced its second-quarter fiscal 2026 financial results, showcasing robust growth and strong financial performance. The company reported record revenue of $29.8 billion, marking a 19% year-over-year (YoY) increase. Operating income surged 27% to $1.8 billion, while non-GAAP operating income rose 10% to $2.3 billion. Additionally, the company shipped $10 billion of AI solutions in the first half of FY26 and raised its AI server shipment guidance for the full fiscal year to $20 billion.

The Infrastructure Solutions Group (ISG) recorded a 44% YoY increase in revenue to $16.8 billion, driven by a 69% growth in Servers and Networking revenue to $12.9 billion. Storage revenue, however, decreased by 3%. The Client Solutions Group (CSG) saw a 1% YoY increase in revenue to $12.5 billion, with Commercial Client revenue up 2% and Consumer revenue down 7%.

Dell Technologies also returned $1.3 billion to shareholders through share repurchases and dividends in the second quarter. The company expects FY26 revenue to be between $105.0 billion and $109.0 billion, representing a 12% YoY increase at the midpoint of $107.0 billion. GAAP diluted EPS is expected to be $7.98 at the midpoint, up 25% YoY, while non-GAAP diluted EPS is projected to be $9.55 at the midpoint, up 17% YoY.

The third quarter FY26 revenue is expected to be between $26.5 billion and $27.5 billion, up 11% YoY at the midpoint of $27.0 billion. GAAP diluted EPS is projected to be $2.07 at the midpoint, up 26% YoY, and non-GAAP diluted EPS is expected to be $2.45 at the midpoint, up 11% YoY.

Dell Technologies continues to demonstrate strong performance and growth, positioning itself well for the future. The company's focus on AI solutions and strategic guidance indicates a commitment to innovation and market leadership.

References:
[1] https://investors.delltechnologies.com/news-releases/news-release-details/dell-technologies-delivers-second-quarter-fiscal-2026-financial