Dell Technologies Inc. · DELL · Next earnings

Dell Technologies Inc. reports Tuesday, Nov 24, 2026

DELL reports after market close with consensus EPS at $6.56 and revenue at $49.24B. Last quarter: Dell Q1 FY27: AI Demand Drives 88% Revenue Surge, Guidance Raised Sharply

Reports After market close65 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $6.56 Calendar consensus
Consensus revenue $49.24B Calendar consensus
Report date Nov 24, 2026 Tuesday, date estimated
Session After market close 65 days away

Where DELL left off: FY2027 Q1

Full report

Dell Q1 FY27: AI Demand Drives 88% Revenue Surge, Guidance Raised Sharply

EPS surprise +64.2% Reported $4.86 vs $2.96
Revenue surprise +22.7% Reported $43.84B vs $35.74B
Stock move +32.8% Event window
Subsequent drift -1.5% Up to 20 sessions

Management raised full-year FY27 guidance significantly, increasing revenue guidance by approximately $27 billion and EPS guidance by roughly $5. The guidance sentiment is 'raised' and management tone is 'confident.' In the prior quarter, FY27 guidance had called for 23% revenue growth and 25% EPS growth; the Q1 results and raised guidance suggest these figures substantially undershot actual demand. The company's prior target of $50 billion in AI revenue for FY27 now appears more achievable given the $51.3 billion AI backlog and the $24.4 billion already booked in Q1 alone.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Ongoing DRAM and NAND memory shortages limiting supply availability.
  • Potential pull-forward effects could compress later-half demand.
  • Inflationary pressure on component costs and pricing dynamics.
  • Reliance on continued partner capacity (NVIDIA, Google Distributed Cloud).

Questions analysts left open

  • Extent of pull-forward versus sustainable demand in traditional servers and PCs.
  • Unit growth versus price-inflation contribution to revenue.
  • Supply-chain constraints and their impact on second-half guidance.
  • Margin outlook ex-AI and the drivers behind the improved gross-margin guidance.
  • Capacity to meet AI server demand with existing manufacturing partners.

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Recent DELL quarters

All DELL earnings
+32.8%FY2027 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2027 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.