HP revenue climbs 9% on PC rebound as printing sales flatline
HP (NYSE:HPQ) reported a 9% increase in fiscal second-quarter net revenue, driven by a double-digit resurgence in personal computer shipments that countered stagnant demand within its printing division.
The legacy hardware manufacturer also updated its full-year earnings projections while signaling stable cash generation ahead.
Total revenue for the three-month period ended April 30, 2026, rose to $14.4 billion, up from the prior-year period.
Profitability metrics strengthened across the board during the quarter.
On a GAAP basis, diluted earnings per share advanced to $0.49 compared to $0.42 a year earlier.
Non-GAAP diluted earnings per share, which strip out one-time restructuring and operational adjustments, expanded to $0.86 from $0.71, surpassing average analyst estimates.
The performance highlighted a widening divergence between the company's two core operational segments.
The Personal Systems division, which encompasses consumer and commercial personal computers, generated $10.2 billion in revenue, marking a 13% increase year-over-year.
This growth reflects stabilizing global demand for corporate and consumer device refreshes.
Meanwhile, HP's traditionally high-margin Printing segment underperformed relative to hardware growth, ending the quarter completely flat at $4.2 billion due to shifting commercial printing volumes.
Cash generation remained steady alongside the operational expansion.
The Palo Alto, California-based company pulled in $0.9 billion in net cash from operating activities, while quarterly free cash flow reached $0.8 billion.
Backed by its first-half financial momentum, management adjusted its fiscal 2026 full-year earnings per share guidance ranges to reflect current market dynamics.
Furthermore, the company reiterated its expectation to generate total full-year free cash flow between $2.8 billion and $3 billion, indicating sustained capital flexibility for the remainder of the fiscal year.
