Overview

• Dell reported first-quarter revenue of $23.38 billion, a 5% year-on-year increase driven by AI-optimized server sales.
• The company’s adjusted earnings per share of $1.55 missed the $1.69 consensus, reflecting margin pressure from high-cost server production.
• Dell secured $12.1 billion in AI orders in Q1—exceeding all of its FY25 shipments—and ended the quarter with a $14.4 billion order backlog.
• Servers and networking revenue jumped 16% year-on-year to a record $6.3 billion in the quarter.
• Dell lifted its full-year adjusted EPS forecast to $9.40 from $9.30 and projected Q2 revenue of $28.5 billion to $29.5 billion, underpinned by $7 billion in planned AI system shipments.