Dell Technologies reported Q1 FY2027 results on May 28, 2026, with revenue surging ~88% year-over-year to $43.84B,...

Dell Technologies reported Q1 FY2027 results on May 28, 2026, with revenue surging ~88% year-over-year to $43.84B, easily beating consensus of $35.43B. Adjusted EPS of $4.86 far exceeded the $2.94 estimate. AI server revenue alone skyrocketed 757% to $16.1B. The company raised its full-year AI server revenue forecast to $60B, up from a prior $50B projection (Source 1, Source 5). The stock surged 39% in after-hours trading, and CEO Michael Dell noted over 5,000 AI server customers including neoclouds, sovereign entities, and enterprises. Dell also highlighted supply constraints in memory and CPUs for the second half of FY2027 (Source 5). Additionally, Dell won a $9.7B Pentagon contract for Microsoft 365 services (Source 6) and secured a $1.6B contract to provide Nvidia Blackwell servers to Iren (Source 8). The strong guidance and execution signal robust AI-related demand, positively impacting Dell and its AI server ecosystem partners like NVDA, while competitors HPE and SMCI face increased competition.