Dell Technologies Inc. (DELL) Earnings Call Transcripts
Dell Technologies Inc.'s Latest Earnings Call - June 2, 2026
In the Q4 2026 earnings call for Dell Technologies Inc., the company reported a remarkable revenue of $29 billion, representing an increase of 181% year-over-year. This growth was driven primarily by the infrastructure solutions group (ISG), particularly in AI servers, which saw a staggering 760% increase in demand. Management raised their full-year revenue guidance from $140 billion to $167 billion, indicating robust demand that exceeds supply constraints. The operating margin stood strong at 10.5%, further highlighting Dell's operational efficiency amidst unprecedented market conditions.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $29 billion (beat) |
| Operating Margin | 10.5% (beat) |
| AI Revenue | $16 billion (beat) |
| Guidance Increase | $167 billion (positive) |
| Operating Dollars | $3.1 billion (beat) |
| Storage Growth | 8% (inline) |
Guidance from management
Dell raised its full-year revenue guidance to $167 billion, reflecting strong demand visibility that exceeds supply constraints. This indicates management's confidence in sustaining growth into 2027.
What management said
It's not really changing. I mean, all-flash grew extremely strong for us in Q1. I think what customers are appreciating is the efficiency and the density that they get with our storage portfolio. Again, 5:1 -- or 6:1 now on PowerStore Lead even more on PowerMax improvements that we're seeing in power scale and object scale, 75:1 on data protection. Look, storage requirements are only going to grow with agent every si...
What analysts pressed on
Analysts expressed concerns regarding supply chain constraints that could hinder Dell's ability to meet the surging demand. There were also questions about the sustainability of the current growth rates and potential margin pressures due to rising costs in materials.
Main topics on the call
- Record Revenue Growth — Dell reported Q4 revenue of $29 billion, up 181% year-over-year, marking nine consecutive quarters of double-digit growth. Arthur Lewis noted, "This was a historical quarter for Dell," emphasizing the significant demand ...
- AI Server Demand Surge — The AI segment experienced a remarkable 760% growth, with $16 billion in revenue. Lewis stated, "The demand that we're seeing far exceeds the supply that we have," indicating a strong market position in AI infrastructure...
- Guidance Increase — Management raised their revenue guidance for the fiscal year from $140 billion to $167 billion, driven by strong demand visibility. Lewis mentioned, "The guidance went up $27 billion," highlighting confidence in future p...
- Operating Margin Stability — Operating margins were reported at 10.5%, with operating dollars up 206%. Lewis remarked, "Revenue is growing, but the profitability underneath it is even stronger than the revenue growth," indicating effective cost mana...
Read the full Dell Technologies Inc. transcript (June 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Dell Technologies Inc.
Dell Technologies Inc. (DELL) is a publicly listed company in the Technology Hardware, Storage and Peripherals industry, within the Information Technology sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 93 calls on record spanning February 27, 2020 to June 2, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 93 Dell Technologies Inc. earnings call transcripts on record, spanning February 27, 2020 to June 2, 2026. Based on this history, Dell Technologies Inc. reports quarterly. The most recent call on file is dated June 2, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- DELL
- Exchange
- NYSE
- Country
- US
- Sector
- Information Technology
- Calls on record
- 93
- First call
- February 27, 2020
- Most recent
- June 2, 2026
- Reporting cadence
- quarterly