Dell Raises Full-Year Revenue Guideline to $167B and EPS by 50%
CSCO•Dell raised full-year revenue guidance 19% to a $167B midpoint and EPS forecasts by 50% to $17.30, while projecting second-quarter revenue 26% above Q1 and EPS growth of 76%. The company reported a record $51.3B AI backlog but conceded some demand stems from customers pulling in components to secure supply.
1. Full-Year and Q2 Guidance Increase
Dell raised its full-year revenue guidance by 19% to a $167 billion midpoint and boosted EPS forecasts 50% to $17.30, while projecting second-quarter revenue 26% above the first quarter and EPS growth of 76% sequentially.
2. Component Pull-In Admission
Executives acknowledged that part of the current demand surge stems from customers pulling forward component orders to secure supply, indicating some sales may reflect short-term hoarding rather than fundamental growth.
3. AI Backlog Fuels Growth Expectations
Despite supply concerns, Dell reported a record $51.3 billion AI backlog and described its sales pipeline as multiples of that figure, suggesting long-term demand for AI-driven infrastructure could permanently elevate baseline revenue.
