Financial Data and Key Metrics Changes - Revenue reached $23.4 billion, up 5% year-over-year, driven by growth across all core markets [6][20] - Earnings per share increased by 17% to $1.55, growing three times faster than revenue [6][20] - Net income rose 13% to $1.1 billion, primarily driven by stronger operating income [21][22] - Gross margin was $5.1 billion, or 21.6% of revenue, down 80 basis points due to a competitive pricing environment [20][21] Business Line Data and Key Metrics Changes - ISG revenue was $10.3 billion, up 12%, with servers and networking revenue at a record $6.3 billion, up 16% [22][23] - CSG revenue rose 5% to $12.5 billion, with commercial revenue up 9% to $11 billion, while consumer revenue declined 19% to $1.5 billion [25][26] - PowerStore demand rose double digits, growing for five consecutive quarters [11] Market Data and Key Metrics Changes - Strong demand for AI optimized servers, with $12.1 billion in orders booked in Q1, surpassing all shipments in FY 2025 [7][22] - Enterprise AI customers grew sequentially across key industry verticals, including WebTech, financial services, and education [7][8] - Commercial demand was strongest in North America, with EMEA and APJ regions also showing double-digit growth [12] Company Strategy and Development Direction - The company is focused on expanding its leadership in AI, investing in innovation, and deepening customer partnerships [9][16] - Continued emphasis on modernizing data centers with the introduction of sixteenth and seventeenth generation servers [17][18] - The company aims to capture more value from its platforms by increasing the mix of Dell IP storage [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for AI servers and the ability to execute on large, complex customer deployments [37][50] - The company anticipates a continued PC refresh cycle as the installed base upgrades to new devices [27][30] - Management remains cautious about traditional server and storage performance due to the dynamic macro environment [30][31] Other Important Information - Record Q1 cash flow from operations of $2.8 billion, driven by profitability and working capital improvement [26] - The company returned $2.4 billion to shareholders through stock repurchases and dividends [27] - Full year revenue guidance is reiterated at $101 billion to $105 billion, with expectations for ISG to grow in the high teens [30][31] Q&A Session Summary Question: Can you discuss the AI server revenue outlook? - Management indicated that the backlog for AI servers is healthy, with expectations to exceed $15 billion for the fiscal year [36][41] Question: What are the expectations for the second half guidance? - Management expects to ship approximately $7 billion of AI servers in the first half, with optimism for converting more pipeline in the second half [44][46] Question: How is the storage attach opportunity evolving alongside AI servers? - Management noted modest improvements in storage and networking attach rates, emphasizing the importance of deployment and installation services [54][56] Question: Are tariffs impacting the financial outlook? - Management confirmed that current guidance includes all known tariff impacts and that input costs are expected to be deflationary [66][68] Question: What is the demand landscape for AI servers? - Management highlighted a diverse customer base, including CSP and enterprise customers, with significant growth in repeat enterprise customers [72][76] Question: How is the competitive environment affecting pricing? - Management stated that ASPs remained stable, with no price increases, and noted aggressive competition in large deals [90][92]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and improve content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Q1 FY26 Financial Performance - Dell Technologies' revenue reached $23.4 billion, a 5% year-over-year increase, driven by growth across core markets[10] - The diluted EPS was $1.37, flat year-over-year, while the non-GAAP diluted EPS was $1.55, a 17% year-over-year increase[10] - Dell Technologies generated a Q1 record of $2.8 billion in cash flow from operations[10] - The company returned $2.4 billion of capital to shareholders, including $2.0 billion in share repurchases and $396 million in dividends[10] AI and ISG Highlights - AI-optimized server orders demand exceeded $12 billion, surpassing all of FY25's shipments, with a $14.4 billion AI backlog exiting Q1[10] - Infrastructure Solutions Group (ISG) revenue increased by 12% year-over-year to $10.3 billion, with operating income up 36% to $998 million[11] - AI server shipments are projected to reach over $15 billion for FY26E[23] Client Solutions Group (CSG) - Client Solutions Group (CSG) revenue increased by 5% year-over-year to $12.5 billion, while operating income decreased by 16% to $653 million[11] - Commercial revenue within CSG increased by 9% to $11.046 billion, while consumer revenue decreased by 19% to $1.463 billion[11] - Dell's Commercial PC Unit Share is 1.6x that of select competitors[40] FY26 Guidance - Dell Technologies expects FY26 revenue to be in the range of $101 billion to $105 billion, with a midpoint of $103 billion, representing 8% growth[16] - The company anticipates non-GAAP diluted EPS for FY26 to be $9.40, plus or minus $0.25, a 15% increase at the midpoint[16]

Nvidia and Dell on Thursday announced a breakthrough supercomputer powered by artificial intelligence (AI) will launch next year to help drive research at the Department of Energy (DOE). The two companies were awarded a contract by the DOE to develop the new flagship supercomputer at the Lawrence Berkeley National Laboratory – known as the Berkeley Lab – which will be due in 2026. The supercomputer is expected to help advance research into fusion energy, materials science, astronomy and accelerate drug disc ...

戴尔科技2026财年一季度总体净营收233.8亿美元，分析师预期231.5亿美元。 戴尔科技美股盘后涨9.38%。 一季度基础设施解决方案集团净营收103.2亿美元。 | Dell China | | 概觉 | 对比 | 财务信息 | | | | --- | --- | --- | --- | --- | --- | --- | | NYSE: DELL | | | | | | | | 即将举行的活动 | | | | | | > | | 第 1 季度财报电话会议 · GMT-4 下午4:30 | | | | | | | | 市场概况 > Dell China | | | | | | | | 113.63 USD | | | | | | + 关注 | | -0.14 (0.12%) + 今天 | | | | | | | | 收盘时间: 5月29日 GMT-4 下午4:05 · 免责声明 | | | | | | | | 盘后价 124.29 +10.66 (9.38%) | | | | | | | | 5天 1 天 | 1 个月 | 6 个月 YTD | 1年 | 5年 | 最大 | | | 125 | | | ...

Financial Performance - Dell Technologies reported first-quarter revenue of $23.4 billion, representing a 5% year-over-year increase[4] - Non-GAAP diluted EPS for the first quarter was $1.55, up 17% year-over-year, while GAAP diluted EPS remained flat at $1.37[4] - Full-year FY26 revenue is expected to be between $101.0 billion and $105.0 billion, reflecting an 8% year-over-year increase at the midpoint[6] - Second-quarter FY26 revenue guidance is between $28.5 billion and $29.5 billion, indicating a 16% year-over-year growth at the midpoint[6] - Total net revenue for the three months ended May 2, 2025, was $23,378 million, representing a 5% increase from $22,244 million in the same period last year[39] - Non-GAAP net income for the three months ended May 2, 2025, was $1,086 million, a 13% increase from $959 million in the prior year[39] - Dell Technologies Inc. reported a diluted earnings per share of $1.37 for the three months ended May 2, 2025, unchanged from the same period last year[45] - Non-GAAP earnings per share increased by 17% to $1.55, compared to $1.32 in the prior year[45] - For the upcoming three months ending August 1, 2025, the company projects diluted earnings per share of $1.85[52] - The fiscal year ending January 30, 2026, is expected to yield a diluted earnings per share of $7.99[52] - The company anticipates total non-GAAP earnings per share of $2.25 for the upcoming quarter and $9.40 for the fiscal year[52] Cash Flow and Shareholder Returns - The company achieved record cash flow from operations of $2.8 billion, a 168% increase compared to the previous year[7] - Cash flows from operating activities totaled $2,796 million, significantly higher than $1,043 million in the same period last year[27] - Free cash flow reached $2,228 million, representing a 388% increase from $457 million in the same quarter last year[49] - Adjusted free cash flow also saw significant growth, rising 258% to $2,232 million from $623 million year-over-year[49] - The company returned a record $2.4 billion to shareholders in the first quarter through share repurchases and dividends[3] - The company repurchased $1,980 million of common stock during the quarter, compared to $700 million in the same period last year[27] Segment Performance - The Infrastructure Solutions Group (ISG) generated $10.3 billion in revenue, up 12% year-over-year, with servers and networking revenue reaching a record $6.3 billion, up 16%[5] - Commercial Client revenue was $11.0 billion, up 9% year-over-year, while Consumer revenue decreased by 19% to $1.5 billion[5] - Infrastructure Solutions Group (ISG) net revenue increased by 12% to $10,317 million, with operating income rising 36% to $998 million, accounting for 60% of total reportable segment operating income[30] - Client Solutions Group (CSG) net revenue grew by 5% to $12,509 million, but operating income decreased by 16% to $653 million, representing 40% of total reportable segment operating income[30] Assets and Liabilities - Total current assets increased to $42,925 million from $36,229 million, driven by higher cash and cash equivalents, which rose to $7,700 million[25] - Total liabilities increased to $89,893 million from $81,133 million, with long-term debt rising to $23,936 million from $19,363 million[25] Strategic Focus - Dell Technologies Inc. continues to focus on strategic investments and potential acquisitions, although specific estimates for future transactions are not provided[53] - Dell received $12.1 billion in AI orders during the quarter, surpassing total shipments for the entire fiscal year 2025[2]

Core Insights - Dell Technologies raised its full-year earnings forecast and provided a stronger-than-expected forecast for the current quarter, leading to a rise in shares during extended trading [1] - The company expects adjusted earnings per share of $2.25 for the current quarter, with revenue projected between $28.5 billion and $29.5 billion, significantly exceeding LSEG expectations [1][2] - Dell's adjusted earnings per share fell short of LSEG estimates despite in-line revenue [1] Financial Performance - Dell anticipates approximately $103 billion in revenue for the full year, aligning with LSEG expectations, while raising its full-year adjusted earnings forecast to $9.40, a 10 cent increase from previous guidance [2] - The company reported a 5% annual revenue growth and expects an 8% growth during the fiscal year [5] - Dell's Infrastructure Solutions Group generated $10.3 billion in sales during the quarter, a 12% increase, with $6.3 billion from servers and networking [5] AI Systems Demand - Dell attributes its strong guidance to $7 billion in artificial intelligence systems expected to ship during the quarter, which are higher-margin products [2] - The company has $14.4 billion in confirmed orders for AI systems in its backlog, with $12.1 billion recorded in the first quarter [4] - Dell is experiencing "unprecedented demand" for AI systems, particularly from second-tier cloud providers [3] Shareholder Returns - Dell significantly increased its shareholder capital return, spending $2.4 billion on share repurchases and dividends during the quarter [6] - For the entirety of fiscal 2025, Dell spent $2.58 billion on share repurchases [6]

Core Insights - Nvidia Corp's first-quarter revenue exceeded consensus expectations, with total revenues growing by +12% quarter-over-quarter (Q/Q) and +69% year-over-year (Y/Y), reaching $44.1 billion compared to the consensus of $43.3 billion and guidance of $42.1 billion to $43.9 billion [1] Revenue Breakdown - Datacenter revenue is projected at $39.1 billion, reflecting a +10% Q/Q and +73% Y/Y increase, which includes Compute revenue of $34.2 billion (+5% Q/Q and +76% Y/Y) and Networking revenue of $5.0 billion (+64% Q/Q and +56% Y/Y) [2] - The growth in Data Center Compute revenues was primarily driven by the Blackwell architecture, which accounted for 70% of Compute revenues, translating to approximately $24 billion in the fiscal first quarter of 2026, compared to $11 billion in the fiscal fourth quarter of 2025 [3] Future Outlook - Nvidia forecasts total revenue for the fiscal second quarter of 2026 to be between $44.1 billion and $45.9 billion, indicating a +2% Q/Q and +50% Y/Y growth at the midpoint, despite facing an $8 billion headwind from H20 export restrictions [5] - The company noted that Data Center trends remain strong, particularly with the accelerating deployment of Blackwell, which is described as the fastest ramp in the company's history [6] Market Implications - The positive trends in Compute, especially with the increasing supply of Blackwell-based products, suggest favorable conditions for Server OEMs like Dell Technologies and Hewlett Packard Enterprise, which have reported guidance for AI server revenues in the upcoming quarter [7]

Core Viewpoint - Dell Technologies is set to report its quarterly earnings, with traders expecting a stock price movement of approximately 9% in either direction following the announcement [1] Group 1: Earnings Expectations - Analysts predict Dell will report revenue of $23.1 billion and adjusted earnings of $1.70 per share for the quarter [2] - Dell has consistently exceeded consensus EPS estimates for the last 12 quarters, indicating a strong earnings performance history [2] Group 2: Historical Stock Reactions - Historical data shows that Dell's stock does not consistently rise following positive earnings surprises, with a 62.5% occurrence of stock price declines the day after earnings over the past eight quarters [3] - Specific stock price changes following earnings announcements over the past two years include a decline of 1.8% on May 30, 2023, and a rise of 5.5% on August 31, 2023, among others [3]

Core Viewpoint - Dell Technologies is set to report earnings, with expectations of a gain of $1.69/share on $23.10 billion in revenue, while the Whisper number suggests a gain of $1.76/share [2] Financial Performance - The company's earnings have shown volatility in recent years, with earnings per share (EPS) recorded as follows: $7.35 in 2020, $4.88 in 2021, $6.22 in 2022, $7.61 in 2023, and $7.37 in 2024. Future projections indicate growth to $8.14 in 2025, $9.21 in 2026, and $10.37 in 2027, primarily driven by AI advancements [3] - The current price-to-earnings (P/E) ratio stands at 14, which is 0.6 times that of the S&P 500 [3] Technical Analysis - The stock has been in a downtrend since May 2024 but is attempting to find a bottom, having recently surpassed its declining 50 and 200-day moving average lines. The stock is currently 36% below its 52-week high, indicating significant recovery potential [4] Company Overview - Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports a wide range of integrated solutions, products, and services globally [5] - The company operates in two main segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). The ISG segment focuses on storage solutions and AI-optimized servers, while the CSG segment provides notebooks, desktops, and peripherals [6][8] Additional Services - Dell also offers customer financing arrangements and various payment solutions, including as-a-Service and subscription models, catering to a diverse clientele including enterprises, government agencies, educational institutions, and healthcare organizations [9]