Dell Technologies (DELL) Q2 2026 Financial Results Summary

# Dell Technologies (DELL) Q2 2026 Financial Results Summary

On August 28, 2025, Dell Technologies (NYSE: DELL) announced its financial results for the second quarter of fiscal year 2026. Below is a summary of the key metrics presented in the release.

## Financial Highlights

– **Revenue**
– Record revenue of **$29.8 billion**, an increase of **19%** compared to Q2 FY25.

– **Operating Income**
– Operating income totaled **$1.8 billion**, reflecting a **27%** increase year over year.
– Non-GAAP operating income was **$2.3 billion**, a **10%** increase over the prior year.

– **Earnings Per Share (EPS)**
– Diluted EPS was **$1.70**, growing by **38%** from Q2 FY25.
– Non-GAAP diluted EPS reached **$2.32**, marking a **19%** increase year over year.

– **Cash Flow**
– Cash flow from operations was **$2.5 billion**, a **90%** increase year over year.

– **Shareholder Returns**
– Dell returned **$1.3 billion** to shareholders through share repurchases and dividends in Q2.

## Segment Performance

### Infrastructure Solutions Group (ISG)

– **Revenue**
– ISG generated revenue of **$16.8 billion**, a **44%** increase from the previous year.
– Servers and Networking revenue was **$12.9 billion**, growing by **69%**.
– Storage revenue totaled **$3.9 billion**, experiencing a slight decline of **3%**.

– **Operating Income**
– ISG recorded operating income of **$1.5 billion**, up **14%** year over year.

### Client Solutions Group (CSG)

– **Revenue**
– CSG revenue stood at **$12.5 billion**, showing modest growth of **1%** year over year.
– Commercial Client revenue was **$10.8 billion**, growing by **2%**.
– Consumer revenue fell to **$1.7 billion**, down **7%** compared to the prior year.

– **Operating Income**
– Operating income for CSG was **$803 million**, a decrease of **2%** year over year.

## Guidance for Fiscal 2026

– **Full-Year Revenue Expectations**
– Revenue is projected to be between **$105.0 billion and $109.0 billion**, an anticipated increase of **12%** year over year at the midpoint of **$107.0 billion**.

– **Earnings Per Share (EPS) Guidance**
– Full-year GAAP diluted EPS is expected to be **$7.98**, reflecting a growth of **25%** year over year.
– Non-GAAP diluted EPS is projected to be **$9.55**, a rise of **17%** compared to the previous year.

– **Q3 FY26 Revenue Expectations**
– Guidance for Q3 revenue ranges from **$26.5 billion to $27.5 billion**, up **11%** year over year at the midpoint of **$27.0 billion**.
– Expected Q3 GAAP diluted EPS is **$2.07**, which represents a **26%** increase year over year.
– Non-GAAP diluted EPS is expected to be **$2.45**, reflecting an **11%** growth.

## Summary

In summary, Dell Technologies reported a strong performance in its Q2 FY26 results with record revenues and notable improvements in operating income and earnings per share. The company is focusing on its robust AI solutions, which contributed significantly to its growth, particularly in the Servers and Networking segment. Additionally, its shareholder returns highlight a commitment to providing returns through dividends and share repurchase programs.

## Shareholder Returns

– Dell Technologies has returned **$1.3 billion** to shareholders in Q2 through share repurchases and dividends, though specific dividend amounts were not detailed in the report.

This summary encapsulates Dell Technologies’ strong financial standing and growth trajectory as it positions itself for the rest of FY26.

Here are the requested tables from the press release:

### Condensed Consolidated Statements of Income
*(in millions, except percentages; unaudited)*

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### Condensed Consolidated Statements of Financial Position
*(in millions; unaudited)*