Dell Revenues Surge 39 Percent to $33.4 Billion

Dell reported that it earned a net income of $2.3 billion on revenues of $33.4 billion in the quarter ending January 30, 2026. Those figures represent gains of 47 percent and 39 percent, respectively, year-over-year (YOY).

Dell also reported its fiscal 2026 financial results, with a net income of $5.9 billion on revenues of $113.5 billion. Those figures are gains of 30 percent and 19 percent, YOY.

“Fiscal year 2026 was a defining year in our company’s history, with record full-year revenue of $113.5 billion, record [earnings per share], and record cash generation,” Dell vice chairman and chief operating officer Jeff Clarke said. “The AI opportunity is transforming our company. We closed more than $64 billion in AI-optimized server orders, shipped more than $25 billion throughout the year, and are entering [fiscal year 2027] with record backlog of $43 billion , powerful proof that our engineering leadership and differentiated AI solutions are winning.”

Dell’s Client Solutions Group (CSG) is responsible for its PC sales and it delivered $13.5 billion in revenues in the quarter, up 14 percent YOY, and $51 billion in revenues in the fiscal year, up 5 percent YOY. I’m not sure if this is notable or not, but Dell’s announcement doesn’t include the term “PC” even once. But in the slide deck that accompanied its post-earnings conference call, Dell noted that it has experienced six consecutive quarters of commercial PC revenue growth, two consecutive quarters of consumer PC “demand” growth, and that 52 percent of its PC sales were commercial PCs, 42 percent were consumer PCs, and 6 percent were Chromebooks. Premium commercial PCs is Dell’s “primary focus area” in this market.

Dell’s Infrastructure Solutions Group (ISG) is where the action is, of course. This business delivered record quarterly revenues of $19.6 billion, up 73 percent YOY, and record annual revenues of $60.8 billion, up 40 percent YOY. Dell says it also set records for full-year operating income, quarterly operating income, quarterly AI-optimized servers revenues, and quarterly traditional servers and networking.

And it is that latter business that’s driving Dell’s future successes: The company said that ISG AI server revenues will double in the current fiscal year to about $50 billion. Shares jumped 18 percent as a result.