HP Inc. Q3 2026 Earnings Recap

HP's shares were little changed, edging up 0.4% after reporting a broadly in-line quarter with steady growth in Personal Systems offset by continued pressure in Print. The modest market reaction suggests the results and outlook largely met expectations without surprise positives or negatives.

Key Takeaways

• Revenue reached a record $15.7 billion, up 13% year-over-year driven primarily by Personal Systems.
• Personal Systems revenue grew 18% year-over-year for the tenth consecutive quarter of growth, led by broad strength across commercial and consumer segments.
• AI-related products continue to gain traction, with the AI PC portfolio expected to represent 50% of shipments by fiscal year-end.
• Print revenue declined 2% year-over-year amid a competitive environment, though HP gained 4 points of share in the big tank segment and Industrial Printing grew for the 12th consecutive quarter.
• EPS exceeded expectations despite commodity headwinds and without a tariff refund benefit, supported by ongoing cost discipline and commodity mitigation strategies.