HP Reports 9% Revenue Growth in Q2 2026, Focuses on AI Innovation
HP Q2 2026 Earnings Call Transcript

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HP (NYSE:HPQ) reported a 9% year-over-year revenue growth for Q2 2026, driven by strong personal systems performance. The company anticipates AI PCs to constitute 60-70% of shipments by next fiscal year, while maintaining a commitment to return 100% of free cash flow to shareholders despite rising input costs.
- 01HP's revenue growth of 9% marks the eighth consecutive quarter of top-line growth, led by personal systems performance.
- 02AI PCs now represent 44% of HP's shipment mix, with expectations to reach 60-70% by the next fiscal year.
- 03Print revenue remained flat year-over-year, supported by consumer subscriptions and pricing strategies.
- 04HP's EPS guidance for FY26 has improved to a range of $2.90 to $3.10.
- 05The company generated approximately $800 million in free cash flow, returning nearly $400 million to shareholders.
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HP (NYSE:HPQ) announced a 9% year-over-year revenue growth for the second quarter of 2026, marking its eighth consecutive quarter of top-line growth. This increase was primarily driven by strong performance in personal systems, where AI PCs constituted 44% of the shipment mix, with projections to rise to 60-70% by the next fiscal year. Despite a flat year-over-year revenue in printing, HP reported ongoing success in consumer subscriptions and effective pricing strategies. The company is committed to returning nearly 100% of its free cash flow to shareholders, with an EPS guidance for FY26 now set between $2.90 and $3.10. HP's proactive management of supplier relationships and strategic inventory positioning have enabled it to navigate rising input costs effectively, although these costs are expected to increase in the latter half of 2026. Overall, HP remains focused on innovation and disciplined execution to sustain long-term growth in a challenging market environment.
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HP's revenue growth and commitment to returning cash to shareholders positively impact investor confidence and market stability.
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