HP reported $0.86 EPS for Q2, above guidance, but lowered full-year EPS outlook to $2.90-$3.10 due to rising costs.
HP Inc reported second-quarter non-GAAP earnings per share of $0.86, exceeding its prior guidance range of $0.70 to $0.76. Revenue climbed 9% year-over-year to $14.4 billion, driven by pricing power and a shift toward AI PCs, which accounted for 44% of shipments.
Despite the beat, the company trimmed its full-year non-GAAP EPS outlook to $2.90-$3.10 from a previous high of $3.20, citing rising memory costs and softer unit demand. Free cash flow guidance of $2.8 billion to $3 billion remained unchanged.
Shares fell 2% in after-hours trading as investors weighed the earnings beat against the reduced profit forecast.