Dell Technologies reports its fiscal 2027 second-quarter earnings after the market closes today, with Wall Street expecting the company’s AI server boom to deliver another strong beat as demand for infrastructure to power artificial intelligence workloads continues to accelerate.
Analysts forecast Dell will post earnings per share of approximately $4.91, more than double the $2.32 reported a year ago, on revenue of around $44.5 billion to $45.3 billion, representing roughly 50% year-over-year growth, according to consensus estimates from Zacks, Yahoo Finance, and AlphaStreet. The earnings call is scheduled for 3:30 p.m. CDT (4:30 p.m. ET).
The core driver behind expectations for a strong quarter is Dell’s domination of the AI server market. In its first quarter of fiscal 2027, which ended April 30, Dell generated a record $16.1 billion in AI-optimized server revenue, up 757% year-over-year, and raised its full-year AI server revenue guidance to approximately $60 billion, up from a prior forecast of $50 billion, according to Reuters and company statements. That guidance implies robust sequential growth from Q1’s record, signaling sustained enterprise demand for the specialized hardware needed to train and deploy large language models.
Dell’s stock has surged 260% year-to-date in 2026, according to Yahoo Finance and MarketWatch, as investors have rotated heavily into AI infrastructure plays. The company closed August 31 at around $456, down modestly from its all-time high of $514 reached in August after Dell was named a technology provider for a $10 billion AI-factory deal, according to TikR. The stock’s performance reflects a structural shift in enterprise spending: companies are building out on-premise AI infrastructure rather than relying solely on cloud providers, a trend that has positioned Dell as a primary beneficiary.
Analyst commentary suggests today’s earnings will test whether Dell can sustain its growth trajectory and manage profitability amid the surge in AI orders. J.P. Morgan and other Wall Street firms have indicated expectations for Dell to raise its full-year fiscal 2027 revenue guidance once again, building on the already-upgraded outlook of 47% growth, according to SeekingAlpha. The company previously guided to $165 billion to $169 billion in full-year revenue for fiscal 2027, which ends January 31, 2027.
The earnings also come as broader AI infrastructure stocks have drawn intense investor scrutiny. ServiceNow stock surged 10% on strong software demand and AI momentum, and Nvidia stock rallied after blowout Q2 earnings beat, signaling that the AI infrastructure buildout is benefiting multiple tiers of the supply chain. Broadcom stock falls ahead of earnings report set for Sept. 2, indicating that investors are closely watching how different hardware and semiconductor vendors navigate the ongoing shift in demand.
What investors will focus on today is whether Dell’s AI server backlog — which stood at $43 billion as of the end of fiscal 2026 — continues to translate into strong shipments, and whether the company can deliver margins that justify the stock’s elevated valuation. Dell guided to $44 billion to $45 billion in Q2 revenue, with the midpoint near the top of historical ranges, suggesting the company expects to execute well despite supply-chain pressures and the complexity of ramping AI server production at scale.
Sources
- Yahoo Finance — Dell Q2 2027 earnings estimates, stock performance year-to-date, and analyst commentary
- Zacks — consensus EPS and revenue estimates for Q2 2027
- Reuters — Dell AI server revenue guidance of $60 billion for fiscal 2027
- MarketBeat — Dell earnings call timing and stock price data
- AlphaStreet — consensus estimate details and Q2 2027 preview
- SeekingAlpha — analyst expectations for guidance raises and full-year outlook
- TikR — Dell stock year-to-date performance and all-time high details
- Dell investor relations — fiscal 2027 AI server revenue guidance and conference call details
