HP lifts full-year EPS guidance after record third-quarter revenue

On Wednesday, HP (NYSE: HPQ ) discussed third-quarter financial results during its earnings call.

The full transcript is provided below.

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For comprehensive financial data and transcripts, visit View the webcast at Summary HP Inc. reported record third-quarter revenue of $15.7 billion, a 13% increase year-over-year, with strong performance in the Personal Systems segment, which grew 18%.

The company is focusing on AI advancements, with AI PCs expected to constitute 50% of its shipment mix by the end of the fiscal year, and is developing edge AI capabilities to reduce cloud dependency.

HP continues to make strategic investments in innovation and efficiency, such as AI-enabled print and edge AI platforms, and is confident in managing cost pressures with mitigation plans and long-term growth prospects.

Print revenue declined by 2% year-over-year, but the company remains focused on profitable unit placements and expanding in high-value segments like Big Tank and industrial printing.

HP increased its fiscal year EPS guidance to $3.19-$3.29, reflecting strong performance and effective cost management, while also projecting free cash flow to be in the range of $3 to $3.2 billion.

Full Transcript Lisa, Operator Well, good day everyone and welcome to the third quarter 2026 HP Inc.

Earnings Conference Call.

My name is Lisa and I'll be your conference moderator for today's call.

At this time, all participants are in a listen-only mode.

We will be facilitating a question and answer session toward the end of the conference.

Should you need assistance during the call, please signal a conference specialist by pressing the star key followed by zero.

As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the call over to Mr.

Alok Joseph, Global Treasurer and Head of Investor Relations.

Please go ahead.

Alok Joseph, Global Treasurer and Head of Investor Relations Good afternoon everyone and welcome to HP's third quarter 2026 earnings conference call.

With me today are Bruce Broussard, HP's interim chief executive officer, and Karen Parkhill, HP's chief financial officer.

Before handing the call over to Bruce, let me remind you that this call is a webcast and replay will be available on our website shortly after the call for approximately one year.

We posted the earnings release and accompanying slide presentation on our investor relations webpage at investor.hp.com.

As always, elements of this presentation are forward-looking and are based on our best view of the world and our business as we see them today.

For more detailed information, please see disclaimers in the earnings materials relating to forward-looking statements that involve risks, uncertainties and assumptions.

For a discussion of some of these risks, uncertainties and assumptions, please refer to HP's SEC reports, including our most recent Form 10-K.

HP assumes no obligation and does not intend to update any such forward-looking statements.

We also note that the financial information discussed on this call reflects estimates based on information available now and could differ materially from the amounts ultimately reported in HP's SEC filings.

During this webcast, unless otherwise specifically noted, all comparisons are year-over-year comparisons with the corresponding year-ago period.

References to HP's channel inventory refer to the tier 1 channel inventory, and market share references are based on calendar quarter information.

In addition, unless otherwise specified, all financial measures discussed today are non-GAAP and EPS refers to non-GAAP diluted net earnings per share.

Please refer to the tables in today's earnings release and the accompanying slide presentation on our website for reconciliations of these non-GAAP measures to the most directly comparable GAAP measures.

With that, I will now turn the call over to Bruce.

Karen, CFO Thank you, Bruce, and good afternoon, everyone.

We are pleased with our third quarter results, which reflect solid execution and continued progress against the priorities we outlined at the start of the year.

For the third consecutive quarter, we delivered better-than-expected top-line growth and EPS at the top or above our guidance range.

Underscoring the discipline of our teams in a dynamic operating environment, we drove yet another quarter of robust revenue growth with continued momentum in Personal Systems and key growth areas.