Filing Flows › Dell Technologies (DELL) › Q2 FY27 › vs Q2 FY26
Dell Technologies (DELL) Q2 FY27 vs Q2 FY26 (year over year)
Dell Technologies's revenue rose $17.2B (+58%) from $29.8B in Q2 FY26 to $47.0B in Q2 FY27. The biggest changes: Products +$17.2B (+72%); Services +$18.0M (+0.3%). Gross margin 20.9% against 18.3% (+2.6 pts).
Dell Technologies, Q2 FY27: revenue $47.0B (+58% year over year), operating margin 11.5%, net earnings $4.1B, operating cash flow $2.2B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 20.9% | 18.3% | +2.6 pts |
| Operating margin | 11.5% | 6.0% | +5.5 pts |
| Net margin | 8.8% | 3.9% | +4.9 pts |
| Free cash flow margin | 2.1% | 6.3% | -4.2 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Products | $41.1B | $23.9B | $17.2B | +72% |
| Services | $5.9B | $5.8B | $18.0M | +0.3% |
| Revenue | $47.0B | $29.8B | $17.2B | +58% |
| Gross profit | $9.8B | $5.4B | $4.4B | +80% |
| Cost of revenue | $37.1B | $24.3B | $12.8B | +53% |
| Operating profit | $5.4B | $1.8B | $3.6B | +204% |
| Operating expenses | $4.4B | $3.7B | $771M | +21% |
| Pre-tax earnings | $5.1B | $1.4B | $3.7B | +256% |
| Other expense, net | $254M | $333M | −$79.0M | -24% |
| Research & development | $1.1B | $785M | $324M | +41% |
| SG&A | $3.3B | $2.9B | $447M | +15% |
| Net earnings | $4.1B | $1.2B | $3.0B | +255% |
| Income tax | $998M | $276M | $722M | +262% |
| Depreciation & amortization | $754M | $762M | −$8.0M | -1% |
| Share-based compensation | $184M | $179M | $5.0M | +3% |
| Working capital & other | $2.8B | −$438M | $3.3B | — |
| Operating cash flow | $2.2B | $2.5B | −$318M | -13% |
| Free cash flow (OCF − capex) | $986M | $1.9B | −$882M | -47% |
| Capital expenditures | $1.2B | $675M | $564M | +84% |
Questions
How much did Dell Technologies's revenue grow year over year in Q2 FY27?
Dell Technologies's revenue rose $17.2B (+58%) from $29.8B in Q2 FY26 to $47.0B in Q2 FY27.
What drove Dell Technologies's revenue change in Q2 FY27?
Products +$17.2B (+72%); Services +$18.0M (+0.3%).