Dell Q2 FY27: Record $47B Revenue, EPS Up 273%, AI Server Backlog Hits $95B
DELL has more than doubled off its 52-week low of $110.22.
Summary
Dell reported record Q2 FY27 results with revenue up 58% to $47B and EPS up 273% to $6.34, driven by explosive AI server demand. Full-year revenue guidance was raised by $25B to $192B.
Key Events · Earnings and Guidance · DELL
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Record Q2 Revenue and EPS
Revenue of $47.0B, up 58% YoY; diluted EPS of $6.34, up 273% YoY; non-GAAP diluted EPS of $7.04, up 203%.
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AI Server Demand Accelerating
AI-optimized server revenue of $16.4B, up 100% YoY; record $60.9B in quarterly AI server orders; record $95B AI server backlog exiting the quarter.
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Full-Year Guidance Raised
FY27 revenue guidance raised by $25B to $192B (up 69% YoY); GAAP EPS guidance raised to $24.37 and non-GAAP EPS to $25.50.
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Q3 Guidance Strong
Q3 FY27 guidance: revenue of $49.0B (up 81% YoY), GAAP EPS of $6.10, non-GAAP EPS of $6.50.
Analysis · DELL · Technology
Dell delivered a blowout quarter driven by AI server demand, with revenue up 58% and diluted EPS up 273% year over year. The company raised full-year revenue guidance by $25 billion to $192 billion and EPS guidance to $24.37 GAAP / $25.50 non-GAAP. A record $95 billion AI server backlog and $60.9 billion in quarterly AI server orders show demand is still accelerating. The stock is already up sharply on the news, but the magnitude of the beat and the raised guidance make this a thesis-altering quarter for a company of Dell's size.
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In the 30 days to Sep 9, 2026, 44.3% of the 601 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DELL was trading at $450.15 on NYSE in the Technology sector, with a market capitalization of approximately $275.5B. The 52-week trading range was $110.22 to $514.00. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.