Dell Technologies Inc (12DA.DE) Q2 2026 Earnings Report

Dell Technologies reported a solid QQ2 2026 performance, with revenue of $29.776 billion, up 22.2% year-over-year and 27.4% quarter-over-quarter. Gross profit of $5.447 billion yielded a gross margin of 18.29%, while operating income reached $1.773 billion for an operating margin of 5.95%. Net income stood at $1.164 billion, and diluted earnings per share (EPS) was $1.70. Free cash flow (FCF) totaled $1.868 billion, underscoring strong cash generation and healthy capital allocation, including a sizable stock repurchase and continued dividend funding. The company maintains a robust cash position with $8.145 billion in cash and equivalents, and net debt of approximately $20.54 billion after financing activity. Despite a negative book equity position driven by high intangible assets and goodwill, Dell’s ongoing FCF, debt management, and revenue growth point to a constructive near-term outlook as AI/cloud demand supports data-center solutions and client-server refresh cycles.