EarningsQ3 2026 Earnings Report
MX:HPQ Q3 2026 EPS Results
Actual EPS$15.00
Consensus EPS$12.00
Beat/MissBeat by +$3.00
One Year Ago EPS$13.56
MX:HPQ Q3 2026 Revenue Results
Actual Revenue$283.55B
Expected Revenue$260.89B
Beat/MissBeat by +$22.66B
YoY Revenue Growth+11.14%
Earnings Announcement Details
QuarterQ3 2026
Date08/26/2026
TimeAfter Close
Conference CallWednesday, August 26, 2026
MX:HPQ Upcoming Earnings
HP's next earnings date is estimated for December 1, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:HPQ Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong top-line momentum driven by a robust Personal Systems segment, accelerating AI-PC adoption and meaningful cash generation that enabled raised EPS and free cash flow guidance. These operational and strategic positives — including product innovation for edge AI, market share gains in premium categories and material growth in key areas — outweighed the notable headwinds of Print revenue softness, margin pressure from rising input and memory costs, PC unit declines, and one-time tariff-related benefits that partially supported results. Management emphasized mitigation actions and confidence in supply and margin recovery into FY27, but cautioned that input-cost pressures and unit-demand trends remain risks.Company Guidance
Record Q3 Revenue and Top-Line Growth
Total revenue of $15.7B in Q3, a record quarter for HP, up 13% year-over-year (11% in constant currency) and marking the ninth consecutive quarter of top-line growth.
Personal Systems Strength
Personal Systems revenue of $11.8B, up 18% year-over-year (record Q3 for the segment and tenth consecutive quarter of PS revenue growth). Commercial was up 22% and consumer up 10%, with Commercial representing over 70% of PS revenue.
Key Growth Areas and AI Momentum
Strategic growth areas collectively grew 46% year-over-year. AI PCs contributed ~46% of PS shipment mix this quarter and are expected to be ~50% of shipments by year-end; management sees AI PC mix rising to 60%-70% in 2027 and >70% in 2028.
Earnings, Guidance Upside and EPS Beat
Non-GAAP diluted EPS was $0.83, up 11% year-over-year (includes $0.11 tariff refund benefit). Company raised FY EPS guidance to $3.19–$3.29 (from $2.90–$3.10) and provided Q4 EPS guidance of $0.69–$0.79, reflecting stronger-than-expected results and including estimated tariff benefits.
Strong Cash Generation and Capital Return
Generated >$1.7B cash from operations and ~ $1.6B free cash flow in Q3; year-to-date free cash flow >$2.5B. Raised FY free cash flow outlook to $3.0B–$3.2B. Returned nearly $600M to shareholders in the quarter (> $1.5B YTD) and paid down slightly more than $500M of debt maturities.
Print Segment Wins and Product Innovation
Big tank unit growth of 42% and gained ~4 percentage points of share in big tank this quarter. Industrial Printing posted its 12th straight quarter of revenue growth. Precise Print expanded to 150+ countries (paper usage reduction up to 38%, ink up to 47%). Signed a 3-year $100M strategic agreement with RRD.
Product and Platform Innovation for Edge AI
Launched and advanced edge-AI capabilities including HP ZGX Fury, GPU sharing via HP Z Boost, OmniBook Ultra 6 (NVIDIA RTX Spark), OmniDesk Mini, expanded WXP integrations, and scaled pilots with OpenAI — positioning HP as an edge AI platform provider.
Geographic Strength
Constant-currency revenue growth across regions: APJ +22% CC, EMEA +10% CC, Americas +5% CC, driven largely by Personal Systems strength.
MX:HPQ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed