HP Revenues Climb 12.5 Percent to $15.7 Billion

HP reported that it earned a net income of $681 million on revenues of $15.7 billion in the quarter ending July 31, 2026. Those figures represent a decline of 11.5 percent and an increase of 12.5 percent year-over-year (YOY), respectively.

“In the third quarter we increased both total sales and share in premium products and continued to attract new customers with innovations in [Workforce Experience Platform], Print, workstations, and AI PCs,” HP interim CEO Bruce Broussard said. “Our ongoing strategy to address environmental constraints led to meaningful improvements in memory supply and higher fulfillment rates.”

The problem for HP is that it sold 16 percent fewer computers in the quarter than it did in the same quarter a year ago; commercial PC unit sales were down 14 percent YOY, while consumer PC unit sales fell 19 percent YOY. But HP’s Personal Systems business segment saw revenues increase 17 percent YOY to $11.8 billion, thanks to double-digit growth in premium PC sub-markets like AI PCs, advanced compute solutions, and workforce solutions. 73 percent of HP’s PC sales went to businesses, compared to 27 percent to consumers.

HP’s other segment, Printing, contributed revenues of $3.9 billion, a gain of 2 percent YOY. Printing supplies accounted for 65 percent of those revenues, with commercial printer sales delivering 28 percent and consumer printer sales adding 7 percent. Total hardware unit sales fell 7 percent YOY.

HP would have fallen short of earnings estimates were it not for its share of the $100 billion in refunds the U.S. government issued in early August after imposing illegal tariffs last year. That sum is a bit more than half of the money the U.S. still owes, and HP expects to benefit from further refunds in the current quarter.