Dell Reports Record Q2 Earnings, Raises Outlook on AI Server Growth

Dell Technologies reported record fiscal second-quarter results on Tuesday, driven by explosive growth in its artificial intelligence server business, sending its stock surging in after-hours trading. The company also significantly raised its full-year outlook, citing accelerating demand across its infrastructure and client segments. For the quarter ended July 31, 2026, Dell posted adjusted earnings of $7.04 per share, dramatically exceeding the $4.91 consensus estimate from analysts. Revenue reached a record $47 billion, up 58% from the prior year and well above the $44.9 billion forecast. Net income rose to $4.13 billion, or $6.34 per share, from $1.16 billion, or $1.70 per share, in the same period last year. The company's Infrastructure Solutions Group was the primary engine of growth, generating $31.8 billion in revenue, an 89% year-over-year increase. Within that segment, revenue from AI-optimized servers doubled to $16.4 billion. Dell booked a record $60.9 billion in AI server orders during the quarter and exited the period with a record $95 billion backlog in that business alone.