Earnings Call
Sep 1, 2026
Q3 FY2026
EPS Estimate
4.91
EPS Actual
2.59
Post-Earnings Close
$492.00
Earnings Reaction
+15.8%
Dell delivered a record Q3 with $27 billion in revenue (up 11% YoY) and $2.59 in diluted EPS (up 17% YoY), driven by exceptional AI server momentum and broad-based strength across infrastructure and client segments. The headline story is the acceleration in AI: the company booked $12.3 billion in AI server orders in the quarter alone, bringing year-to-date orders to $30 billion, both records, and ended with a record backlog of $18.4 billion. AI server shipments reached $5.6 billion in Q3, and management guided to $9.4 billion in Q4 shipments, implying roughly $25 billion for the full year, a 150% increase over FY2025. This performance reflects not just demand but Dell's competitive edge in engineering bespoke solutions, rapid deployment (24-36 hour rack operationalization with 99%+ uptime), and a diversifying customer base spanning hyperscalers, sovereigns, and enterprises.
Report generated on Aug 31, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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