Monitor upcoming quarters for margin pressure from memory costs. The maintained guidance with expectation of lower-end performance suggests caution despite the beat on non-GAAP EPS. The strong Personal Systems growth, particularly in AI PCs, is a positive signal for the PC market.
Price Chart
Executive Summary
HP reported Q1 FY26 revenue of $14.4 billion, up 6.9% YoY, driven by strong growth in Personal Systems (up 11%) including AI PCs. Non-GAAP EPS rose 9.5% to $0.81, beating consensus, but GAAP EPS declined 1.7% to $0.58. The company maintained full-year guidance but expects results to be at the lower end of the range due to increasing memory costs and trade-related headwinds.
Key Financial Metrics
Key Facts
- Q1 revenue was $14.4 billion, up 6.9% YoY, with Personal Systems up 11% and Printing down 2%
- Non-GAAP EPS was $0.81, up 9.5% YoY and above consensus, while GAAP EPS was $0.58, down 1.7% YoY
- Company maintained full-year guidance but expects to be at the lower end due to increasing memory costs and trade-related headwinds
- Returned $600 million to shareholders via buybacks and dividends
- CFO stated execution was better than expected with non-GAAP EPS above consensus
Financial Impact
Revenue up $934 million YoY, non-GAAP EPS up $0.07 YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Personal Systems | $10.3K | +11.0% |
| Printing | $4.2K | -2.0% |
Risk Factors
- Increasing memory costs impacting margins
- Results expected at lower end of guidance range
- Printing segment revenue declining
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000047217-26-000009 |
| Document: hpq-20260224.htm | 0000047217-26-000009 |
| Document: 0000047217-26-000009-index-headers.html | 0000047217-26-000009 |
| Document: 0000047217-26-000009-index.html | 0000047217-26-000009 |
| Document: 0000047217-26-000009.txt | 0000047217-26-000009 |
| CONTEXT: Previous Earnings (2026-02-24) | 0000047217-26-000009 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Press Release | $29.63 $31.41 | ▲ +5.99% | ▲ +6.09% | $32.29 (+8.98%) |
Jul 21, 2026 10w ago | Institutional Cluster | $24.81 $29.97 | ▲ +20.78% | ▲ +18.22% | $32.29 (+30.15%) |
Jun 29, 2026 13w ago | Press Release | $22.64 $25.75 | ▲ +13.74% | ▲ +14.02% | $32.29 (+42.62%) |
Jun 16, 2026 15w ago | Press Release | $23.18 $24.14 | ▲ +4.14% | ▲ +2.82% | $32.29 (+39.30%) |
May 27, 2026 18w ago | 8-K | $24.97 $22.92 | ▼ −8.20% | ▼ −5.50% | $32.29 (+29.34%) |
May 27, 2026 18w ago | Press Release | $24.97 $22.92 | ▼ −8.20% | ▼ −5.50% | $32.29 (+29.34%) |
May 26, 2026 18w ago | Press Release | $24.40 $23.67 | ▼ −2.98% | ▼ −0.71% | $32.29 (+32.35%) |
May 19, 2026 19w ago | Press Release | $21.05 $23.18 | ▲ +10.13% | ▲ +10.17% | $32.29 (+53.42%) |
Mar 30, 2026 26w ago | Court Ruling | $19.03 $19.73 | ▲ +3.68% | ▼ −8.91% | $32.29 (+69.72%) |
Mar 24, 2026 27w ago | Press Release | $18.90 $20.44 | ▲ +8.15% | ▼ −0.75% | $32.29 (+70.88%) |
US Market Status
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