HP Inc. reports $15.7 billion in Q3 revenue despite falling PC shipments

HP Inc. reported third-quarter fiscal 2026 results featuring a 12.5 percent increase in net revenue to $15.7 billion, surpassing analyst expectations. The company also raised its full-year earnings per share and free cash flow outlook.

Despite the revenue growth, driven largely by demand for AI-optimized PCs, HP's stock fell 10 percent in after-hours trading following news that PC shipments declined by 16 percent during the quarter. The company noted that its non-GAAP diluted net earnings per share rose 10.7 percent to $0.83, which included an $0.11 favorable impact from tariff refunds following a U.S. Supreme Court ruling.

Interim CEO Bruce Broussard stated that the company saw increased sales and market share in premium products, including workstations and AI PCs, while successfully addressing memory supply constraints.