Q2 2026 Dell Technologies Inc Earnings Call Transcript
Key Points
- Dell Technologies Inc (DELL) reported record revenue of $29.8 billion, up 19% year-over-year.
- The company achieved a Q2 record for earnings per share (EPS), which increased by 19% to $2.32.
- Dell Technologies Inc (DELL) saw strong demand for AI servers, with $5.6 billion in orders and $8.2 billion shipped in the second quarter.
- The company experienced double-digit growth in its enterprise and sovereign AI opportunities, with a growing pipeline.
- Dell Technologies Inc (DELL) returned $1.3 billion of capital to shareholders through stock repurchases and dividends.
- Storage revenue was down 3% as demand was softer than anticipated, particularly in large accounts in North America.
- Consumer revenue declined by 7%, although profitability improved due to better product positioning.
- The April weakness in North America for traditional servers continued, impacting demand.
- Federal spending was down, affecting overall demand for the quarter.
- The mix shift to AI servers, while driving revenue, had a dilutive effect on gross margin rates.
Good afternoon, and welcome to the fiscal year 2026 second quarter financial results conference call for Dell Technologies Inc. I'd like to inform all participants, this call is being recorded at the request of Dell Technologies. This broadcast is a copyrighted property of Dell Technologies Inc.
Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited. (Operator Instructions) I'd like to turn the call over to Paul Frantz, Head of Investor Relations. Mr. Frantz, you may begin.
Thanks, everyone, for joining us. With me today are Jeff Clarke, Yvonne McGill, and Tyler Johnson. Our earnings materials are available on our IR website, and I encourage you to review these materials. Also, please take time to review the presentation, which includes additional content to complement our discussion this afternoon. Guidance will be covered on today's call.
During this call, unless otherwise indicated, all references to
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