Dell Technologies Inc. (NYSE:DELL) reported fiscal second-quarter 2027 revenue of $47.0 billion, up 58% year over year. AI server orders reached $60.9 billion, while recognized AI server revenue totaled $16.4 billion and ending AI server backlog reached $95.0 billion.
Orders and backlog are company-reported operating metrics, not recognized revenue. Orders measure booked demand, while backlog represents orders awaiting conversion. The backlog provides substantial revenue visibility, although Dell Technologies Inc. (NYSE:DELL) did not disclose its conversion schedule.
Dell Technologies Inc. (NYSE:DELL) raised its fiscal 2027 revenue outlook by $25 billion to $192 billion and increased expected AI-optimized server revenue from $60 billion to $74 billion. However, cash flow from operating activities decreased 13% to $2.225 billion. First-half operating cash flow still increased 18% to $6.306 billion.
The company-defined non-GAAP cash measures require a closer look. Free cash flow was $986 million, calculated from $2.225 billion of operating cash flow less $1.239 billion of capital expenditures and capitalized software development costs, net of **** et-sale proceeds. Adjusted free cash flow was $8.149 billion after adding the $6.667 billion operating-cash-flow impact from changes in financing receivables and the $496 million net impact of capital expenditures and depreciation for equipment under operating leases. Dell Technologies Inc. (NYSE:DELL) excludes these Dell Financial Services items because their initial funding is largely replaced by cash inflows from related debt.
Infrastructure Solutions Group revenue increased 89% to $31.8 billion, while operating income rose 225% to $4.8 billion. The company-reported ISG operating income rate, calculated as segment operating income divided by segment revenue, improved to 15.0% from 8.8%. Scale, pricing discipline, and operating leverage are producing stronger segment economics.
#operating #technologies
Orders and backlog are company-reported operating metrics, not recognized revenue. Orders measure booked demand, while backlog represents orders awaiting conversion. The backlog provides substantial revenue visibility, although Dell Technologies Inc. (NYSE:DELL) did not disclose its conversion schedule.
Dell Technologies Inc. (NYSE:DELL) raised its fiscal 2027 revenue outlook by $25 billion to $192 billion and increased expected AI-optimized server revenue from $60 billion to $74 billion. However, cash flow from operating activities decreased 13% to $2.225 billion. First-half operating cash flow still increased 18% to $6.306 billion.
The company-defined non-GAAP cash measures require a closer look. Free cash flow was $986 million, calculated from $2.225 billion of operating cash flow less $1.239 billion of capital expenditures and capitalized software development costs, net of **** et-sale proceeds. Adjusted free cash flow was $8.149 billion after adding the $6.667 billion operating-cash-flow impact from changes in financing receivables and the $496 million net impact of capital expenditures and depreciation for equipment under operating leases. Dell Technologies Inc. (NYSE:DELL) excludes these Dell Financial Services items because their initial funding is largely replaced by cash inflows from related debt.
Infrastructure Solutions Group revenue increased 89% to $31.8 billion, while operating income rose 225% to $4.8 billion. The company-reported ISG operating income rate, calculated as segment operating income divided by segment revenue, improved to 15.0% from 8.8%. Scale, pricing discipline, and operating leverage are producing stronger segment economics.
#operating #technologies
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