Dell Technologies said net revenue for Q1 of fiscal 2026 increased 5%, driven by an increase in ISG net revenue of 12% and CSG net revenue of 5%, partially offset by a decrease in Corporate and other net revenue.

1. 01

   Dell Technologies said net revenue for Q1 of fiscal 2026 increased 5%, driven by an increase in ISG net revenue of 12% and CSG net revenue of 5%, partially offset by a decrease in Corporate and other net revenue.

2. 02

   The company said operating income for Q1 of fiscal 2026 increased 21% to $1.2 billion, and non-GAAP operating income increased 10% to $1.7 billion. Operating margin was 5.0% and non-GAAP operating margin was 7.1%.

3. 03

   Dell Technologies said net income for Q1 of fiscal 2026 decreased 3% to $1.0 billion, citing higher income tax expense as a principal factor. The effective income tax rate was 10.9%, compared to (67.6)% in the prior-year quarter.

4. 04

   The company said cash provided by operating activities for Q1 of fiscal 2026 was $2.8 billion, and cash and cash equivalents increased $4.1 billion. It cited net debt increases from Senior Notes and DFS debt issuances and proceeds from the sale of Secureworks as factors.

Key figures

Quarter ended May 2, 2025

Revenue

$23.4B

Operating income

$1.2B

Net income

$965M

EPS

$1.37

Gross profit

$4.9B

Operating cash flow

$2.8B

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.

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

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