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Dell Technologies (DELL) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 8, 2026
Dell Technologies (DELL) reported revenue of $47.0B for the second quarter fiscal 2027 (Q2 FY27), +58% from a year earlier and +7% from the quarter before. Operating margin was 11.5%, net earnings $4.1B (8.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.0B | +7% | +58% |
| Gross profit | $9.8B | +26% | +80% |
| Operating profit | $5.4B | +47% | +204% |
| Net earnings | $4.1B | +20% | +255% |
| Operating cash flow | $2.2B | -45% | -13% |
| Free cash flow | $986M | -68% | -47% |
What changed
Revenue was $47.0B in Q2 FY27, up 58% year over year and up 7% from the previous quarter. Products was the largest line at 88% of revenue. Products added $17.2B year over year (up 72%), 100% of the total change.
Gross margin was 20.9%, up 2.6 points from Q2 FY26. Operating profit was $5.4B, a 11.5% margin (up 5.5 points year over year). Of the extra revenue versus Q2 FY26, 21% reached operating profit, above the 6% margin then. Operating expenses grew 21% against revenue growth of 58%. The fastest-growing cost line was Research & development (+41%). Net earnings were $4.1B, up 255% year over year. The effective tax rate was 19.5%.
Operating cash flow was $2.2B (down 13% year over year), 54% of net earnings. Non-cash charges added back $0.75B of depreciation and amortization and $0.18B of share-based compensation. Working capital and other items used $2.8B. Capital expenditures of $1.2B left free cash flow of $1.0B.
Questions
What was Dell Technologies' revenue in the second quarter fiscal 2027?
Dell Technologies (DELL) reported revenue of $47.0B for the second quarter fiscal 2027 (Q2 FY27), +58% from a year earlier and +7% from the quarter before.
Was Dell Technologies profitable in the second quarter fiscal 2027?
Operating profit was $5.4B (11.5% of revenue) and net earnings $4.1B.
Source: Dell Technologies 10-Q on SEC EDGAR.