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Dell Technologies (DELL) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Jun 9, 2026
Dell Technologies (DELL) reported revenue of $43.8B for the first quarter fiscal 2027 (Q1 FY27), +88% from a year earlier and +31% from the quarter before. Operating margin was 8.3%, net earnings $3.4B (7.8% of revenue).
Dell Technologies, Q1 FY27: revenue $43.8B (+88% year over year), operating margin 8.3%, net earnings $3.4B, operating cash flow $4.1B. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.8B | +31% | +88% |
| Gross profit | $7.8B | +16% | +58% |
| Operating profit | $3.7B | +18% | +214% |
| Net earnings | $3.4B | +52% | +256% |
| Operating cash flow | $4.1B | -13% | +46% |
| Free cash flow | $3.1B | -21% | +40% |
What changed
Revenue was $43.8B in Q1 FY27, up 88% year over year and up 31% from the previous quarter. Products was the largest line at 87% of revenue. Products added $20.5B year over year (up 117%), 100% of the total change. Services declined 1%.
Gross margin was 17.8%, down 3.4 points from Q1 FY26. Operating profit was $3.7B, a 8.3% margin (up 3.4 points year over year). Of the extra revenue versus Q1 FY26, 12% reached operating profit, above the 5% margin then. Operating expenses grew 9% against revenue growth of 88%. The fastest-growing cost line was Research & development (+22%). Net earnings were $3.4B, up 256% year over year. The effective tax rate was 12.9%.
Operating cash flow was $4.1B (up 46% year over year), 119% of net earnings. Non-cash charges added back $0.76B of depreciation and amortization and $0.19B of share-based compensation. Working capital and other items used $0.30B. Capital expenditures of $1.0B left free cash flow of $3.1B.
Questions
What was Dell Technologies' revenue in the first quarter fiscal 2027?
Dell Technologies (DELL) reported revenue of $43.8B for the first quarter fiscal 2027 (Q1 FY27), +88% from a year earlier and +31% from the quarter before.
Was Dell Technologies profitable in the first quarter fiscal 2027?
Operating profit was $3.7B (8.3% of revenue) and net earnings $3.4B.
Source: Dell Technologies 10-Q on SEC EDGAR.