Dell Technologies

DELL · Information Technology · Market cap $263B

Q1 FY27 May 1, 2026 reported Jun 9, 2026

Revenue$43.8B +88% year over year

Gross profit$7.8B

Operating profit$3.7B

Net profit$3.4B 8% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY27 (period ends May 1, 2026).
Item	Value	Share of revenue	Year over year
Revenue	43.8	100%	+88%
AI-optimized servers	16.1	37%
Commercial	13	30%
Traditional servers and networking	8.5	19%
Storage	4.3	10%
Consumer	1.6	4%
Other	0.2	0%
Cost of revenue	−36.1	82%
Gross profit	7.8	18% margin	−3pp
Research & development	−1	2%	−1pp
SG&A	−3.1	7%	−6pp
Operating profit	3.7	8% margin	+3pp
Tax	−0.6
Net profit	3.4	8%	+4pp

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Oct 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	27	100%	+11%
Infrastructure Solutions Group	14.1	52%	+24%
Client Solutions Group	12.5	46%	+3%
Corporate and other	0.4	1%
Cost of revenue	−21.4	79%
Gross profit	5.6	21% margin	−1pp
Research & development	−0.8	3%	+0pp
SG&A	−2.7	10%	−2pp
Operating profit	2.1	8% margin	+1pp
Tax	−0.4
Interest & other costs	−0.2
Net profit	1.5	6%	+1pp

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Aug 1, 2025).
Item	Value	Share of revenue	Year over year
Revenue	29.8	100%	+19%
Infrastructure Solutions Group	16.8	56%	+44%
Client Solutions Group	12.5	42%	+1%
Corporate and other	0.5	2%
Cost of revenue	−24.3	82%
Gross profit	5.4	18% margin	−3pp
Research & development	−0.8	3%	+0pp
SG&A	−2.9	10%	−3pp
Operating profit	1.8	6% margin	+0pp
Tax	−0.3
Interest & other costs	−0.3
Net profit	1.2	4%	+0pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends May 2, 2025).
Item	Value	Share of revenue	Year over year
Revenue	23.4	100%	+5%
Commercial	11	47%
Servers and networking	6.3	27%
Storage	4	17%
Consumer	1.5	6%
Other	0.6	3%
Cost of revenue	−18.4	79%
Gross profit	4.9	21% margin	−1pp
Research & development	−0.8	3%	+0pp
SG&A	−3	13%	−1pp
Operating profit	1.2	5% margin	+1pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	1	4%	+0pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY27	May 1, 2026	Jun 9, 2026	$43.8B	+88%	8%	$3.4B	8%
Q3 FY26	Aug 2 – Oct 31, 2025	Dec 9, 2025	$27B	+11%	8%	$1.5B	6%
Q2 FY26	May 3 – Aug 1, 2025	Sep 8, 2025	$29.8B	+19%	6%	$1.2B	4%
Q1 FY26	Feb 1 – May 2, 2025	Jun 10, 2025	$23.4B	+5%	5%	$1B	4%