Dell Revenues Surge 88 Percent to $43.8 Billion

Dell had a record first quarter with its best-ever revenues, diluted earnings per share, and cash flow from operations. The firm reported that it earned a net income of $3.4 billion on record revenues of $43.8 billion in the quarter ending May 1, 2026. Those figures represent gains of 256 percent and 88 percent, respectively, year-over-year (YOY).

“Our record Q1 performance reflects strong in-quarter demand, as well as our pace of innovation across the full stack of PCs, compute, and storage,” Dell vice chairman and COO Jeff Clarke said. “We booked $24.4 billion in AI orders and recognized $16.1 billion of AI server revenue. We’re increasing our AI server revenue expectations for FY27 to $60 billion, which only goes to show the AI opportunity shows no signs of slowing.”

As hinted at by that quote, Dell’s Infrastructure Solutions Group (ISG), which is responsible for the firm’s datacenter sales, reported record revenues of $29 billion in the quarter, a gain of 181 percent YOY. Within that business, Dell also experienced record revenues from AI-optimized servers ($16.1 billion, up 757 percent YOY), traditional servers and networking ($8.5 billion, up 92 percent), and storage ($4.3 billion, up 8 percent), and record operating income of $3.1 billion (up 206 percent).

Dell’s Client Solutions Group (CSG) is responsible for its PC sales. This business delivered $14.6 billion in revenues for a gain of 17 percent YOY. Commercial PC revenues were a record $13 billion, up 18 percent, and consumer PC revenues were $1.6 billion, up 9 percent.

Dell shares jumped 30 percent on the news, which vastly exceeded analyst estimates across the board. Astonishing.