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HP

HPQ Q3 2025 Earnings

Reported Aug 27, 2025 at 4:06 PM ET · SEC Source

Q3 25 EPS

$0.75

MISS 0.04%

Est. $0.75

Q3 25 Revenue

$13.93B

BEAT +1.65%

Est. $13.71B

vs S&P Since Q3 25

-29.7%

TRAILING MARKET

HPQ -18.7% vs S&P +11.1%

Market Reaction

Did HPQ Beat Earnings? Q3 2025 Results

HP Inc. Delivered a mixed fiscal third quarter, posting revenue of $13.93 billion, up 3.0% year over year and ahead of the $13.71 billion consensus by 1.65%, while non-GAAP EPS of $0.75 came in essentially flat against the $0.75 estimate, missing by … Read more HP Inc. Delivered a mixed fiscal third quarter, posting revenue of $13.93 billion, up 3.0% year over year and ahead of the $13.71 billion consensus by 1.65%, while non-GAAP EPS of $0.75 came in essentially flat against the $0.75 estimate, missing by just 0.04%. The headline story was Personal Systems, where a surge in AI PC adoption, with those units now representing one quarter of shipments ahead of schedule, helped drive segment revenue up 6% to $9.93 billion; the momentum has analysts watching whether shares can hold gains into the next quarter. Printing remained a structural drag, with segment revenue falling 4% to $3.99 billion, though a 17.3% operating margin showed the unit's profitability resilience. Tariff-related costs weighed on margins across the board, compressing non-GAAP operating margin to 7.1% from 8.2% a year ago. Looking ahead, HP guided Q4 non-GAAP EPS of $0.87 to $0.97 and reaffirmed full-year free cash flow of $2.60 billion to $3.00 billion, citing continued Windows 11 refresh cycles and AI PC demand as key tailwinds.

Key Takeaways

  • • Fifth consecutive quarter of revenue growth driven by Personal Systems strength
  • • Consumer PS revenue up 8% and units up 8% year over year
  • • Commercial PS revenue up 5% year over year
  • • Windows 11 refresh cycle momentum
  • • AI PC adoption driving demand
  • • Strong free cash flow generation of $1.5 billion in the quarter
24/7 Wall St

HPQ YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

HPQ Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“In Q3 we delivered a fifth consecutive quarter of revenue growth, driven by strength in Personal Systems and strong momentum in our key growth areas. These results demonstrate our agility and focused execution in the quarter, reinforce the strength of our strategy, and our commitment to be a leader in the future of work.”

— Enrique Lores, Q3 2025 Earnings Press Release

Back to HPQ Stock Page