HPQ's strong beat and raised guidance confirm PC upgrade cycle momentum and margin resilience. With 12% of analysts bullish, the surprise magnitude may drive short covering and upward revisions; consider adding or holding long into the Q3 print.
Price Chart
Executive Summary
HPQ reported FQ2 2026 non-GAAP EPS of $0.86, a 20.3% beat vs $0.72 consensus, on revenue of $14.4B (+9% YoY). Raised full-year non-GAAP EPS guidance to $2.90-3.10 (midpoint $3.00 vs prior $2.82-3.02) and FCF guidance to $2.8-3.0B. The strong beat, raised outlook, and large EPS surprise will likely drive the stock higher.
Key Financial Metrics
Key Facts
- Non-GAAP EPS $0.86 beat consensus $0.72 by 20.3%.
- Revenue $14.4B beat consensus $14.07B by 2.3% and grew 9% YoY.
- Personal Systems revenue $10.2B (+13% YoY).
- Non-GAAP operating margin 7.5% expanded 0.2 pts YoY.
- FCF $0.8B vs -$0.1B year ago; FCF guidance raised to $2.8-3.0B.
- Full-year GAAP EPS guidance raised to $2.15-2.45; non-GAAP to $2.90-3.10.
- Returned $374M to shareholders ($274M dividends + $100M buybacks).
Financial Impact
Non-GAAP EPS beat consensus by $0.14 (20.3%); revenue beat by $0.33B (2.3%). Full-year non-GAAP EPS midpoint raised by $0.18 (+6.2%).
Risk Factors
- Rising commodity costs and currency headwinds could pressure margins in H2 despite raised guidance.
- Restructuring charges $365M in Q2 vs $122M year ago; elevated restructuring costs could weigh on GAAP earnings.
- Consumer PS units down 8% and Printing hardware units down 7% signal soft demand in some end markets.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3302394 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Press Release | $29.63 $31.41 | ▲ +5.99% | ▲ +6.09% | $32.12 (+8.40%) |
Jul 21, 2026 10w ago | Institutional Cluster | $24.81 $29.97 | ▲ +20.78% | ▲ +18.22% | $32.12 (+29.46%) |
Jun 29, 2026 13w ago | Press Release | $22.64 $25.75 | ▲ +13.74% | ▲ +14.02% | $32.12 (+41.87%) |
Jun 16, 2026 15w ago | Press Release | $23.18 $24.14 | ▲ +4.14% | ▲ +2.82% | $32.12 (+38.57%) |
May 27, 2026 18w ago | 8-K | $24.97 $22.92 | ▼ −8.20% | ▼ −5.50% | $32.12 (+28.65%) |
May 27, 2026 18w ago | Press Release | $24.97 $22.92 | ▼ −8.20% | ▼ −5.50% | $32.12 (+28.65%) |
May 26, 2026 18w ago | Press Release | $24.40 $23.67 | ▼ −2.98% | ▼ −0.71% | $32.12 (+31.66%) |
May 19, 2026 19w ago | Press Release | $21.05 $23.18 | ▲ +10.13% | ▲ +10.17% | $32.12 (+52.61%) |
Mar 30, 2026 26w ago | Court Ruling | $19.03 $19.73 | ▲ +3.68% | ▼ −8.91% | $32.12 (+68.82%) |
Mar 24, 2026 27w ago | Press Release | $18.90 $20.44 | ▲ +8.15% | ▼ −0.75% | $32.12 (+69.98%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access