Dell Technologies has reported record financial results for the second quarter of fiscal 2027, with surging demand for artificial intelligence infrastructure driving significant growth across its business.
The company recorded $47.0 billion in quarterly revenue, up 58% year over year. Diluted earnings per share increased 273% to a record $6.34, while non-GAAP diluted EPS rose 203% to $7.04. Dell also generated $2.2 billion in cash flow from operations.
AI infrastructure was a major contributor to the performance. Dell’s AI server business recorded a record $60.9 billion in orders, while AI-Optimized Servers generated $16.4 billion in revenue, doubling year over year. The company ended the quarter with a record $95 billion backlog.
Dell’s Infrastructure Solutions Group generated record revenue of $31.8 billion, representing an 89% year-over-year increase. Traditional Servers and Networking revenue climbed 122% to $10.5 billion, while storage revenue increased 26% to $4.9 billion. ISG operating income reached $4.8 billion, up 225%.
The Client Solutions Group also delivered strong growth, with revenue rising 20% to $15.0 billion. Commercial Client revenue increased 22% to $13.2 billion, while consumer revenue grew 7% to $1.8 billion. CSG operating income increased 42% to $1.1 billion.
Dell returned a record $4.3 billion to shareholders during the quarter through share repurchases and dividends. The company’s board also declared a quarterly cash dividend of $0.63 per common share.
Looking ahead, Dell expects third-quarter fiscal 2027 revenue of approximately $49 billion, representing an 81% year-over-year increase. The company expects GAAP diluted EPS of $6.10 and non-GAAP diluted EPS of $6.50.
Dell has also raised its full-year fiscal 2027 revenue outlook from $167 billion to $192 billion, representing approximately 69% year-over-year growth. Its AI-Optimized Servers revenue outlook was increased from $60 billion to $74 billion.
The company said the revised outlook reflects accelerating AI demand and expanding opportunities across its broader technology portfolio.
