Dell Technologies(US:DELL) 智通财经网·2025-08-28 23:40Core Insights - Dell Technologies reported a 19% increase in sales, reaching $29.8 billion, surpassing the average expectation of $29.2 billion [1] - Adjusted earnings per share were $2.32, slightly above the analyst average estimate of $2.30 [1] - AI server sales declined from $12.1 billion in the previous quarter to $5.6 billion, raising concerns about profitability in the AI server segment [1][4] Financial Performance - The infrastructure segment, driven by a 69% growth in server and networking business, saw a revenue increase of 44% [1] - Client solutions revenue, which includes enterprise and consumer PCs, grew only 1% to $12.5 billion, below the expected $12.8 billion [1] - The operating margin for the infrastructure segment was 8.8%, below the analyst expectation of 10.3% [2] Future Outlook - Dell raised its annual guidance, projecting adjusted earnings per share of approximately $9.55, up from previous estimates, and annual revenue of about $107 billion [4] - The company expects third-quarter revenue of $27 billion, exceeding the forecast of $26.1 billion, but anticipates earnings per share of $2.45, lower than the predicted $2.55 [4] - The COO mentioned that atypical expenses were incurred to secure deals involving the latest NVIDIA chips and to address regulatory changes [4] Competitive Landscape - Competitor HP reported a more optimistic 6% growth in PC sales, although its stock has underperformed compared to Dell, declining 13% this year [5]