Dell Q2 beats across the board, lifts FY revenue and AI server guidance

Dell Technologies reported Q2 revenue of $46.97B (est. $44.78B), adjusted EPS of $7.04 (est. $4.90), and adjusted operating income of $5.93B (est. $4.18B). AI-optimized server revenue was $16.40B (est. $16.03B). The company raised FY revenue guidance to $192B (prior $165B–$169B, est. $173.76B) and FY AI-optimized server revenue guidance to $74B (prior ~$60B). Q3 revenue guidance of $49B also beat the $41.91B estimate. AI server backlog was $95B at quarter end.