Compared to estimates, Dell Technologies (DELL) Q2 earnings: A look at key metrics

For the quarter ended July 2026, Dell Technologies (DELL) reported revenue of $46.97 billion, up 57.8% over the same period last year. EPS came in at $7.04, compared to $2.32 in the year-ago quarter.

The reported revenue represents a surprise of +3.6% over the Zacks Consensus Estimate of $45.34 billion. With the consensus EPS estimate being $4.97, the EPS surprise was +41.65%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Dell Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net revenue - Infrastructure Solutions Group- Storage: $4.85 billion compared to the $4.26 billion average estimate based on four analysts. The reported number represents a change of +25.8% year over year.
• Net revenue - Client Solutions Group- Consumer: $1.84 billion compared to the $1.93 billion average estimate based on four analysts. The reported number represents a change of +7% year over year.
• Net revenue - Client Solutions Group- Commercial: $13.19 billion versus the four-analyst average estimate of $13.17 billion. The reported number represents a year-over-year change of +22.4%.
• Net revenue - Client Solutions Group: $15.03 billion versus the four-analyst average estimate of $15.09 billion. The reported number represents a year-over-year change of +20.2%.
• Net revenue - Infrastructure Solutions Group: $31.78 billion versus the four-analyst average estimate of $30.02 billion. The reported number represents a year-over-year change of +89.2%.
• Net revenue - Infrastructure Solutions Group- Servers and networking: $26.93 billion versus the four-analyst average estimate of $25.76 billion. The reported number represents a year-over-year change of +108.1%.
• Net revenue - Products: $41.11 billion versus the two-analyst average estimate of $36.73 billion. The reported number represents a year-over-year change of +71.8%.
• Net revenue - Infrastructure Solutions Group- AI-optimized servers: $16.4 billion versus $16.27 billion estimated by two analysts on average.
• Net revenue - Services: $5.86 billion compared to the $7.99 billion average estimate based on two analysts. The reported number represents a change of +0.3% year over year.
• Operating income - Client Solutions Group: $1.14 billion versus the two-analyst average estimate of $988.72 million.
• Operating income - Infrastructure Solutions Group: $4.78 billion compared to the $3.38 billion average estimate based on two analysts.