HP's decline in PC shipments overshadows strong results; shares fall

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/26/2026

1. INTU
2. DKS
3. NVDA
4. META
5. ZM
6. SMTC
7. SPY
8. NCNO
9. BOX
10. CRM

August 26, 2026 4:17 PM EDT

A screen displays the HP logo on the trading floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 21, 2026. REUTERS/Jeenah Moon

Aug 26 (Reuters) - HP said ‌on Wednesday its ​personal ​computer unit shipments declined in the third quarter, overshadowing the company's strong results and sending its shares down 10% ‌in extended trading.

Its total PC shipments dropped 16% for the ⁠quarter ended July 31, even as revenue from the division increased 18%. Printing ‌revenue fell 2% to $3.9 billion ‌in the third quarter.

The company expects fourth-quarter adjusted earnings per share between 69 cents and 79 cents, above analysts' average estimate of ​67 cents, according to data compiled by LSEG. The forecast includes an 8-cent boost from estimated tariff refunds.

U.S. President Donald Trump's ⁠administration has refunded about $100 billion from tariffs it collected before the U.S. Supreme Court struck ​down those duties, a court filing showed earlier this month.

HP, like peers Dell Technologies, Apple and China's Lenovo Group, ​raised prices for its devices as ‌a global shortage of memory chips drove up costs.

HP reported third-quarter revenue of $15.7 billion, up 12.5% from a ⁠year earlier and exceeding estimates of $14.38 billion, helped by strong demand for AI-optimized PCs.

Rival Lenovo reported a 43% jump in quarterly revenue earlier in August, ⁠benefiting from an AI hardware boom and price hikes due to the memory chip ​shortage.

HP's adjusted profit of 83 cents per share for the quarter ended July 31 also included a boost of 11 cents a share from tariff refunds. ‌The adjusted earnings beat estimates of 69 cents per share.

It also raised its annual forecast for adjusted earnings ‌per share to a range of $3.19 to $3.29, which includes a $0.19 favorable impact ⁠from estimated tariff refunds for ‌the entire year. The ​laptop maker had earlier forecast annual adjusted EPS to be $2.90 to $3.10.

(Reporting by Jaspreet Singh in Bengaluru; Editing by ‌Leroy Leo)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters

Related Entities

Donald J. Trump, Raising Prices, Earnings