HP Revenues Up 4 Percent to $14.6 Billion, But Job Cuts Are On the Way

HP, the world’s second-biggest PC maker, reported net earnings of $725 million on revenues of $14.6 billion in the quarter ending October 31, 2025. Those figures represent a shortfall of 12 percent and a gain of 4 percent, respectively, year-over-year (YOY).

The quarter was also the conclusion of HP’s fiscal year 2025, during which it delivered net earnings of $2.5 billion on revenues of $55.3 billion, a shortfall of 9 percent and a gain of 4.2 percent, respectively, YOY.

“HP’s strategy to lead the Future of Work continues to deliver strong performance, marked by our sixth consecutive quarter of revenue growth,” HP president and CEO Enrique Lores said. “Our FY25 results reinforce the power of our portfolio and the strength of our team in a dynamic environment. As we accelerate innovation across AI-powered devices to drive productivity, security, and flexibility for our customers, our focus for FY26 is on disciplined execution. We are committed to driving measurable results, ensuring that our plans translate into long-term value for our shareholders.”

HP’s Personal Systems business landed net revenues of $10.4 billion in the fiscal fourth quarter, up 8 percent YOY and with a 5.8 percent operating margin. Total units sold were up 7 percent YOY, with consumer PC units up 8 percent and commercial units up 7 percent. Revenue from consumer PCs gained 10 percent YOY, while revenue from commercial PCs were up 7 percent. HP says that 30 percent of the PCs it sells now are AI PCs.

HP Printing added another $4.3 billion in the quarter, down 4 percent YOY, with an 18.9 percent operating margin. Total hardware units sold were down 12 percent YOY, while consumer printing net revenues were down 9 percent, commercial printing net revenues declined 4 percent, and supplies net revenues fell 4 percent.

HP’s results fell short of estimates and the PC maker said that it would cut 4,0000 to 6,000 jobs through fiscal 2028 with the goal of saving over $1 billion annually by that time. HP will take a $250 million hit in restructuring charges in the current fiscal year and $650 million overall.