HP Inc. surpassed Wall Street expectations for third-quarter revenue, driven by rising demand for AI-powered personal computers and the ongoing Windows 11 upgrade cycle. Revenue rose 3% to $13.93 billion, exceeding analysts’ estimates of $13.70 billion, according to LSEG data.
The momentum comes as Microsoft prepares to end support for Windows 10 in October, triggering a strong PC refresh cycle as individuals and organizations seek secure, updated devices. “We remain confident in the strength of the PC market opportunity, with continued momentum from Windows 11 refresh and AI PC adoption,” said CFO Karen Parkhill.
HP’s personal systems unit, which includes consumer and commercial PCs, saw revenue climb 6% to $9.93 billion, while the printing segment declined 4% to $4 billion.
CEO Enrique Lores highlighted supply chain adjustments, noting HP has shifted nearly all North America-bound production out of China to Southeast Asia, Mexico, and U.S. sites, leaving only low-volume production in China.
For the fourth quarter, HP forecasts adjusted profit per share between 87 cents and 97 cents, compared with analyst estimates of 92 cents. Adjusted Q3 earnings per share came in at 75 cents, in line with forecasts.
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