Dell raises fiscal year guidance to $192B after strong Q2 results

Dell Technologies just posted a quarter that would make its 2019 self unrecognizable. The company reported Q2 fiscal year 2027 revenue of $47.0 billion, a 58% jump from the same period a year ago, and promptly raised its full-year revenue guidance to $192 billion. That revised target implies roughly 69% year-over-year growth for the fiscal year, up from the previous guidance of $167 billion. The numbers behind the guidance raise Dell’s AI-optimized server business pulled in $16.4 billion in revenue during Q2 alone, doubling year-over-year. Non-GAAP diluted earnings per share came in at $7.04, a 203% increase compared to the year-ago quarter. The company updated its full-year non-GAAP EPS guidance to $25.50. Operating cash flow hit $2.2 billion in the quarter. Dell returned $4.3 billion to shareholders through a combination of dividends and share repurchases during Q2. The traditional server and networking segment revenue climbed 122% year-over-year. Storage revenue grew 26%, while client solutions increased 20%. A $95 billion backlog tells the real story Dell’s AI backlog reached a record $95 billion exiting Q2. Orders booked during the quarter totaled $60.9 billion for AI-optimize...