Wall St Engine@wallstengine
$DELL Q1’27 EARNINGS HIGHLIGHTS
🔹 Revenue: $43.8B (Est. $34.81B) 🟢; +88% YoY
🔹 Adj. EPS: $4.86 (Est. $2.88) 🟢; +214% YoY
🔹 AI-Optimized Servers Revenue: $16.1B; +757% YoY
FY Guide:
🔹 Revenue: $165.0B-$169.0B (Est. $143.9B) 🟢; +47% YoY
🔹 Adj. EPS: $17.90 (Est. $13.16) 🟢; +74% YoY
🔹 AI-Optimized Servers Revenue: ~$60B; +144% YoY, up from ~$50B
Q2 Guide:
🔹 Revenue: $44.0B-$45.0B (Est. $35.4B) 🟢; +49% YoY at midpoint
🔹 Adj. EPS: $4.80 (Est. $3.01) 🟢; +107% YoY
Segment Performance:
🔹 ISG Revenue: $29.0B; +181% YoY
🔹 AI-Optimized Servers Revenue: $16.1B; +757% YoY
🔹 Traditional Servers & Networking Revenue: $8.5B; +92% YoY
🔹 Storage Revenue: $4.3B; +8% YoY
🔹 ISG Operating Income: $3.1B; +206% YoY
🔹 CSG Revenue: $14.6B; +17% YoY
🔹 Commercial Client Revenue: $13.0B; +18% YoY
🔹 Consumer Revenue: $1.6B; +9% YoY
🔹 CSG Operating Income: $1.2B; +79% YoY
Financials:
🔹 AI Orders: $24.4B
🔹 Operating Cash Flow: $4.1B; +46% YoY
🔹 Operating Income: $3.656B; +214% YoY
🔹 Non-GAAP Operating Income: $4.235B; +154% YoY
🔹 Net Income: $3.438B; +256% YoY
🔹 Adjusted FCF: $3.165B; +42% YoY
Capital Return:
🔹 Shareholder Returns: $2.1B through repurchases and dividends
Commentary:
🔸 “Our record Q1 performance reflects strong in-quarter demand, as well as our pace of innovation across the full stack of PCs, compute and storage.”
🔸 “We booked $24.4 billion in AI orders and recognized $16.1 billion of AI server revenue.”
🔸 “We’re increasing our AI server revenue expectations for FY27 to $60 billion, which only goes to show the AI opportunity shows no signs of slowing.”
🔸 “We entered FY27 with clear momentum, raising our full-year revenue outlook to $167 billion at the midpoint, up nearly 50% year over year.”
