Dell announced on May 28, 2026, that it expects fiscal 2027 revenue to range between $165 billion and $169 billion, up sharply from the prior forecast of $138 billion to $142 billion [1, 2, 3, 4]. The company also raised its AI-optimized server revenue projection for fiscal 2027 from about $50 billion to roughly $60 billion [1, 2, 3, 4].
The first quarter of fiscal 2027 showed robust growth, with Dell’s revenue rising 88% year-over-year to approximately $43.8 billion. This far exceeded analyst expectations of about $35.4 billion [2, 3, 5, 6, 4, 7]. Adjusted earnings per share jumped 214% to $4.86, beating estimates near $2.94 [3, 5, 4, 7]. AI-optimized server sales surged 757% year-over-year to around $16.1 billion, driven in part by strong demand for Nvidia GPUs [3, 5, 4, 7]. Chief Financial Officer David Kennedy said, “AI伺服器需求快速成長正是上調全年展望的主要原因” (The rapid growth in AI server demand is the main reason for raising the full-year outlook) [2].
Dell’s Infrastructure Solutions Group revenue grew 181% year-over-year to $29 billion in Q1 [2, 3, 4, 7]. The company received $24.4 billion in AI-related orders and booked $16.1 billion in AI server revenue during the quarter [2].
Despite strong demand, Dell faces challenges from inflation and supply chain constraints, including higher costs and shortages in DRAM, NAND flash, CPUs, and hard drives. Chief Operating Officer Jeff Clarke said, “感覺我們每天都在重新定價。我相信我們的客戶也感受到這種痛苦。不幸的是，鑒於我們今日所處的通貨膨脹環境，我認為這種情況不會改變” (It feels like we are repricing daily. Our customers are feeling the pain too. Unfortunately, given today’s inflationary environment, I don't think this will change) [5, 6, 8, 4, 7]. Clarke also noted the AI opportunity has “未見放緩跡象” (shown no signs of slowing) [3].
Dell expects second-quarter revenue between $44 billion and $45 billion and earnings per share around $4.80, both exceeding market forecasts [2, 5, 6, 4, 7].
Following the earnings release, Dell’s stock surged nearly 40% in after-hours trading on May 28 [9, 2, 3, 5, 6, 8, 4, 7, 10, 11, 12]. The surge lifted Dell’s market capitalization to approximately $273 billion by May 29 [9, 11, 12]. The rise coincided with US President Donald Trump’s purchase of Dell shares in Q1 2026 and his public endorsement: “去買戴爾電腦吧，它們真的很棒” (Go buy Dell computers, they’re really great) [5, 6, 4, 7, 10, 11].
In May 2026, Dell secured a $9.7 billion, five-year contract with the US Department of Defense for Microsoft 365 and related enterprise software services [5, 6, 8, 4, 7, 10]. CEO Michael Dell expressed optimism, saying he looks forward to continued progress ‘‘在川普領導下繼續取得進展與機會’’ (under Trump’s leadership) [5].
Dell will report fiscal 2027 second-quarter results later this year to provide an update on sales and earnings amid ongoing supply pressures and high demand for AI infrastructure.
