Dell Technologies said net revenue rose 9% in the second quarter of Fiscal 2025 Q2 and 8% in the first six months. The company said growth in ISG net revenue was partly offset by declines in other businesses and CSG net revenue.

10-QQuarterly reportFiled Sep 10, 2024Period of report Aug 2, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Dell Technologies said net revenue rose 9% in the second quarter of Fiscal 2025 Q2 and 8% in the first six months. The company said growth in ISG net revenue was partly offset by declines in other businesses and CSG net revenue.
Dell Technologies said gross margin for the second quarter of Fiscal 2025 Q2 fell 1% to $5.3 billion, and gross margin as a percentage of net revenue declined 230 basis points to 21.2%. The company cited the growing mix of AI-optimized server offerings and competitive pricing in CSG as factors. Operating income for the same quarter rose 15% to $1.3 billion.
Dell Technologies said cash provided by operating activities was $2.4 billion in the first six months of Fiscal 2025. The company said profitability contributed, while working capital changes tied to growth in AI-optimized server offerings partly offset this. It said cash provided by operating activities was $5.0 billion in the first six months of Fiscal 2024.
Dell Technologies said total principal debt was $24.7 billion as of August 2, 2024, down $1.5 billion. The company said cash and cash equivalents fell $2.8 billion in the first six months of Fiscal 2025, citing stockholder capital returns and net repayments of Senior Notes and DFS debt as factors.

Key figures

Quarter ended August 2, 2024

Revenue: $25.0B
Operating income: $1.3B
Net income: $846M
EPS: $1.17
Gross profit: $5.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net revenue rises in Q2 and first half

Dell Technologies said net revenue rose 9% in the second quarter of Fiscal 2025 Q2 and 8% in the first six months. The company said growth in ISG net revenue was partly offset by declines in other businesses and CSG net revenue.

Source · Based on the MD&A text of the filing

Lower gross margin and operating income

Dell Technologies said gross margin for the second quarter of Fiscal 2025 Q2 fell 1% to $5.3 billion, and gross margin as a percentage of net revenue declined 230 basis points to 21.2%. The company cited the growing mix of AI-optimized server offerings and competitive pricing in CSG as factors. Operating income for the same quarter rose 15% to $1.3 billion.

Source · Based on the MD&A text of the filing

First-half operating cash flow

Dell Technologies said cash provided by operating activities was $2.4 billion in the first six months of Fiscal 2025. The company said profitability contributed, while working capital changes tied to growth in AI-optimized server offerings partly offset this. It said cash provided by operating activities was $5.0 billion in the first six months of Fiscal 2024.

Source · Based on the MD&A text of the filing

Debt falls and first-half cash declines

Dell Technologies said total principal debt was $24.7 billion as of August 2, 2024, down $1.5 billion. The company said cash and cash equivalents fell $2.8 billion in the first six months of Fiscal 2025, citing stockholder capital returns and net repayments of Senior Notes and DFS debt as factors.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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