Dell Technologies Q2: EPS $1.89, Revenue $25B, AI Server Demand Boosts Growth

Aug 29, 2024, 08:11 PM

Dell Technologies reported its second-quarter earnings, surpassing Wall Street expectations with a revenue of $25 billion, compared to the anticipated $24.14 billion. The company's adjusted earnings per share (EPS) came in at $1.89, exceeding the consensus estimate of $1.71. Dell's strong performance was driven by a significant increase in demand for its AI-powered servers, with server and networking revenue rising 80% year-over-year to $7.7 billion. The Infrastructure Solutions Group (ISG) achieved record revenue of $11.6 billion, marking a 38% increase from the previous year. Dell's adjusted operating income was $2.03 billion, beating the estimate of $1.85 billion. The net income for the quarter was $841 million, up 85% year-over-year. Dell's shares rose over 7% in after-hours trading following the announcement.