Companies /Technology

HP Inc

NYSE: HPQ Computer Hardware
$29.15
▼ $1.38 (−4.51%) today
Markets open · 1:11pm ET

Q1 2026 Earnings

Reported Feb 24, 2026, 4:18pm ET · SEC source
$0.81
Beat +5.19%
EPS · est. $0.77
$14.4B
Beat +3.68%
Revenue · est. $13.9B
+15.3%
Beating market
HPQ vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%+6%Feb 24Feb 25report 4:18pm ETearnings+0.8%+4.1%
−3%0+3%+6%Feb 24Feb 25earnings+0.8%+4.1%
HPQ +4.1%S&P 500 +0.8%
−3%0+3%+6%Feb 24Feb 25report 4:18pm ETearnings+1.3%+4.1%
−3%0+3%+6%Feb 24Feb 25earnings+1.3%+4.1%
HPQ +4.1%NASDAQ +1.3%
0+5%+10%Feb 23Mar 4report 4:18pm ETearnings−0.2%+12.8%
0+5%+10%Feb 23Mar 4earnings−0.2%+12.8%
HPQ +12.8%S&P 500 −0.2%
0+5%+10%Feb 23Mar 4report 4:18pm ETearnings+0.7%+12.8%
0+5%+10%Feb 23Mar 4earnings+0.7%+12.8%
HPQ +12.8%NASDAQ +0.7%
+0.05%
Day of report
+3.29%
Next session
+5.33%
One week
+6.75%
30 days

S&P 500 over the same 30 days: −8.52%.

Did HPQ Beat Earnings? Q1 2026 Results

HP Inc. delivered a stronger-than-expected fiscal first quarter, posting non-GAAP diluted EPS of $0.81 against a consensus estimate of $0.77, a 5.26% beat, while revenue climbed 6.9% year over year to $14.44 billion, clearing the $13.93 billion Wall Street estimate by 3.68%. The primary engine behind the quarter was a resurgent Personal Systems segment, which grew revenue 11% to $10.25 billion as AI PC demand accelerated and total PC unit shipments rose 12% year over year, more than offsetting continued softness in Printing, where revenue slipped 2% to $4.19 billion. It was also the first quarter under Interim CEO Bruce Broussard, who highlighted AI PC momentum as a durable growth catalyst going forward. As <a href="https://247wallst.com/investing/2026/02/24/hp-inc-earnings-preview-what-wall-street-is-watching/">analysts had been watching closely</a>, the company maintained its full-year non-GAAP EPS guidance of $2.90 to $3.20 and free cash flow of $2.80 billion to $3.00 billion, though rising memory costs and trade-related headwinds are expected to push results toward the lower end of those ranges.

Key Takeaways
  • Robust growth in Personal Systems driven by AI PC momentum
  • Consumer PS revenue up 16% and units up 14% year over year
  • Commercial PS revenue up 9% and units up 11% year over year
  • Non-GAAP diluted EPS up 9.5% year over year to $0.81
  • Total net revenue up 6.9% year over year (5.2% in constant currency)

“We are pleased to report a strong first quarter, highlighted by robust growth in Personal Systems, including the continued momentum in AI PCs. Our performance reflects the strength of our portfolio and our disciplined execution of our Future of Work strategy, even as we navigate industry-wide headwinds.”

HP CEO, on the earnings call

Forward Guidance & Outlook

For fiscal Q2 2026, HP estimates GAAP diluted net EPS of $0.52 to $0.58 and non-GAAP diluted net EPS of $0.70 to $0.76. For full fiscal year 2026, HP maintains its annual guidance with GAAP diluted net EPS of $2.47 to $2.77 and non-GAAP diluted net EPS of $2.90 to $3.20, with free cash flow of $2.8 billion to $3.0 billion. However, given the increasingly fluid operating environment including rising memory costs and U.S. trade-related regulations, HP expects results to be at the lower end of these ranges.

HPQ YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$4.0B$8.0B$12.0B$13.5B$14.4BRevenue$2.8B$2.8BGross Profit$845.0M$759.0MOperating Income$565.0M$545.0MNet Income
$0$4.0B$8.0B$12.0BRevenueGross ProfitOperating IncomeNet Income

HPQ Revenue by Segment

Personal Systems$10.3B+11.0%
Commercial PS$7.3B+9.0%
Printing$4.2B−2.0%
Consumer PS$3.0B+16.0%
Supplies$2.8B−1.0%
Commercial Printing$1.1B−3.0%
Consumer Printing$283.0M−8.0%
Corporate Investments

Figures from SEC filings and company reports. Not investment advice.