Dell Technologies Inc. (NYSE:DELL) Q2 2025 Earnings Conference Call August 29, 2024 4:30 PM ET

Company Participants

Rob Williams - Head, IR
Jeff Clarke - Vice Chairman and COO
Yvonne McGill - CFO
Tyler Johnson - Senior VP and Treasurer

Conference Call Participants

Amit Daryanani - Evercore
Ben Reitzes - Melius Research
Erik Woodring - Morgan Stanley
Toni Sacconaghi - Bernstein
Asiya Merchant - Citi
Samik Chatterjee - JPMorgan
Michael Ng - Goldman Sachs
Wamsi Mohan - Bank of America
Aaron Rakers - Wells Fargo
David Vogt - UBS
Simon Leopold - Raymond James
Steven Fox - Fox Advisors

Operator

Good afternoon, and welcome to the Fiscal Year 2025 Second Quarter Financial Results Conference Call for Dell Technologies, Inc.

I'd like to inform all participants this call is being recorded at the request of Dell Technologies. This broadcast is the copyrighted property of Dell Technologies, Inc. Any rebroadcasting of this information in whole or part without the prior written permission of Dell Technologies is prohibited. Following prepared remarks, we will conduct a question-and-answer session. [Operator Instructions]

I'd like to turn the call over to Rob Williams, Head of Investor Relations. Mr. Williams, you may begin.

Rob Williams

Thanks, everyone, for joining us. With me today are Jeff Clarke, Yvonne McGill and Tyler Johnson.

Our earnings materials are available on our IR website, and I encourage you to review these materials and the presentation, which includes additional content to complement our discussion this afternoon. Guidance will be covered on today's call.

During this call, unless otherwise indicated, all references to financial measures refer to non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating income, net income, diluted earnings per share and adjusted free cash flow. A reconciliation of these measures to their most directly comparable GAAP measures can be found in our web deck and our press release.

Growth percentages refer to year-over-year change unless otherwise specified. Statements made during this call that relate to future results and events are forward-looking statements based on current expectations. Actual results and events could differ materially from those projected due to a number of risks and uncertainties, which are discussed in our web deck and our SEC filings. We assume no obligation to update our forward-looking statements.

Now, I'll turn it over to Jeff.

Jeff Clarke

Thanks, Rob, and thanks everyone for joining us.

We executed well in Q2, and I'm really proud of our team and our performance. Revenue was $25 billion, up 9%, with another record for our servers and networking business. Diluted EPS was $1.89, up 9%, and cash-flow from operations was $1.3 billion. Our AI momentum accelerated in Q2 and our results and outlook demonstrate that we are uniquely positioned to help customers leverage the benefits of artificial intelligence.