On September 2, Dell Technologies Inc. rose 8.17% overnight, trading at $459.59 per share. The surge was driven by the company's fiscal Q2 earnings release, which significantly exceeded Wall Street expectations across all key metrics, prompting a substantial upward revision to full-year guidance.

Dell reported Q2 revenue of $46.97 billion, up 58% year-over-year, beating the consensus estimate of approximately $44.9 billion. Non-GAAP EPS came in at $7.04, surging 203% year-over-year and topping the $4.91 estimate by 43%. AI-optimized server revenue reached $16.4 billion, doubling year-over-year, with the AI server backlog swelling to $95 billion. The Client Solutions Group posted $15 billion in revenue, up 20% year-over-year.

Full-year revenue guidance was raised from approximately $167 billion to $192 billion, far exceeding the $174 billion consensus. Full-year non-GAAP EPS guidance was lifted to $25.50, well above the $19.10 estimate. For Q3, Dell guided revenue of $49 billion and adjusted EPS of $6.50, both significantly above expectations. Management noted full-year operating expenses are projected at approximately 8% of revenue, the lowest in the company's 42-year history.

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