HP Beats Q2 Estimates on AI PC and Windows 11 Upgrade Demand
HP reported fiscal Q2 2026 results that exceeded analyst expectations, fueled by robust demand for AI-powered PCs and the Windows 11 upgrade cycle. Revenue came in at $13.2 billion, above the $12.8 billion consensus.
Key Numbers
HP Inc. (NYSE: HPQ) reported fiscal second-quarter 2026 earnings that beat Wall Street estimates, driven by strong demand for AI-optimized personal computers and the Windows 11 refresh cycle. Revenue reached $13.2 billion, surpassing the $12.8 billion consensus.
Key Financial Results
| Metric | Q2 2026 | Estimate | YoY Change |
|---|---|---|---|
| Revenue | $13.2B | $12.8B | +4% |
| Net Profit | $1.1B | $0.9B | +22% |
| EPS | $1.12 | $1.00 | +12% |
Highlights from the Report
- Strong AI PC Demand: HP saw increased orders for AI-enhanced PCs, improving product mix and margins.
- Windows 11 Upgrade Cycle: Microsoft ended Windows 10 support in October 2025, accelerating enterprise upgrades to premium devices.
- Supply Chain Constraints: Memory chip shortages due to data center demand are pushing up component prices, affecting the PC industry.
Guidance
HP did not provide formal guidance for the next quarter, but analysts expect continued growth from AI PC adoption and Windows 11 upgrades.
Stock Impact
HP shares rose 3% in after-hours trading following the earnings release.
What This Means for Investors
HP's results highlight strong PC demand, especially for AI-capable devices. However, investors should monitor memory chip shortages and their impact on future margins.
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