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Emoji mehDell: Fiscal 3FQ25 Financial Results

Storage revenue at $4.0 billion, up 1% Q/Q and 4% Y/Y

For storage revenue only

(in $ million) 2FQ24 2FQ25 6 mo. 2024 6 mo. 2025
Revenue 3,843 4,004 11,786 11,739
Growth   4%   -%

Global revenue of $24.4 billion, up 10% Y/Y with record 3FQ25 ISG revenue.

Storage revenue, on its side, was $4.0 billion, down 4% Y/Y and up 1% Q/Q, representing 16% or total sales.

For FY26, the company expects ISG growth driven by AI servers, followed by traditional servers, then storage

Storage revenue of Dell
(in $ million)

Period Revenue Y/Y growth
FY11* 2,295 5%
FY12* 1,943 -15%
FY13* 1,699 -13%
FY14* 1,518 -11%
FY15* 1,437 -5%
FY16* 2,217 54%
FY17** 8,942 303%
FY18 15,254 71%
FY19 16,767 10%
FY20 16,767 -0%
FY21 16,091 -4%
FY22 16,465 0%
FY23 17,958 9%
1FQ24 3,756 -11%
2FQ24 4,187 -3%
3FQ24 3,843 -13%
4FQ24 4,475 -10%
FY24 16,261 -10%
1FQ25 3,761 0%
2FQ25 3,974 -5%
3FQ25 4,004 4%

* Without EMC
**without EMC for 1FQ17 and 2FQ17 following acquisition for $63 billion

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