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HP Inc. (NYSE: HPQ) reported stronger-than-expected fiscal second-quarter 2026 results, surpassing Wall Street estimates on both earnings and revenue. However, HP stock slipped slightly in after-hours trading as investors weighed ongoing supply chain challenges and cautious full-year guidance.
The PC and printer manufacturer posted adjusted earnings of $0.79 per share on revenue of $14.41 billion for Q2 2026. Analysts had forecast earnings of $0.71 per share and revenue of $13.99 billion. Following the report, HP shares initially moved higher before turning lower in extended trading.
HP’s personal systems division, which includes its PC business, generated $10.21 billion in revenue, marking a 13% year-over-year increase. Despite the revenue growth, unit sales declined 7% compared to the same period last year. According to Gartner, HP was the only major PC maker to experience a yearly decline in worldwide shipments during the first quarter of 2026.
The company’s printing segment delivered revenue of $4.20 billion, remaining flat year-over-year as demand in the printing market stayed stable.
HP’s quarterly performance comes amid rising concerns over global memory chip shortages. The supply of memory semiconductors has tightened significantly in 2026, leading to sharply higher prices for components used in personal computers and other electronic devices. Counterpoint Research noted that memory chip prices reached record highs during the first quarter, increasing cost pressures for manufacturers like HP.
Interim CEO Bruce Broussard said HP continues to focus on its “future of work” strategy through AI-powered devices, edge AI technologies, and connected workplace experiences while managing higher commodity costs.
For the fiscal third quarter of 2026, HP expects adjusted earnings between $0.61 and $0.71 per share, compared with analysts’ expectations of $0.64 per share. The company also slightly lowered the upper end of its full-year 2026 adjusted earnings outlook, now forecasting earnings in the range of $2.90 to $3.10 per share.
