Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Loading
Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Filed after the FY2026 Q2 call day (May 27, 2026) through the next call day (Aug 26, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q2
Macro signals
↓Inflation→Trade & Tariffs↑Enterprise Spending
HP INC. delivered 9% revenue growth driven by a 13% surge in Personal Systems, with AIPC shipment mix climbing from 35% to 44%, while Print revenue remained flat in a competitive market. Non-GAAP EPS of $0.86 rose over 20% year-over-year, aided by disciplined pricing, favorable mix toward premium categories, and lower financing costs, though GAAP operating income declined 6% due to voluntary early retirement restructuring charges. Management narrowed full-year EPS guidance to $2.90-$3.10 from $2.90-$3.20, reflecting confidence in cost mitigation progress but acknowledging rising memory, storage, and oil-related input costs through the back half, with Q4 PS margins expected to trough. The Windows 11 refresh cycle with roughly 30% of the installed base remaining and growing enterprise demand for AI at the edge provide near-term tailwinds, though unit TAM is expected to decline high teens in the second half of calendar 2026.
Key themes
7
positive📊 company
Personal Systems Revenue Surges 13% On Win 11 And AI PCS
Personal Systems grew 13% YOY with commercial up 14% and consumer up 10%. AIPC shipment mix increased from 35% to 44% of total, with double-digit growth in advanced compute and workforce solutions.
CompanyFiscal year ends OctMost recent earnings call: Aug 26, 2026 (FY2026 Q3)Est. next earnings call: Nov 24, 2026
6/ 10
FY2026 Q2Mixed+1.0 vs FY2026 Q1
Calendar quarter Q2 2026Earnings call May 27, 2026
FY2026 Q2 in brief
HP INC. delivered 9% revenue growth driven by a 13% surge in Personal Systems, with AIPC shipment mix climbing from 35% to 44%, while Print revenue remained flat in a competitive market.
PositivePersonal Systems Revenue Surges 13% On Win 11 And AI PCS
NegativeRising Memory And Storage Costs Pressure Back-Half Margins
MixedPrint Flat In Competitive Market, Tank Printers Gaining Share
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
10%
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for HP Inc. (HPQ), FY2026 Q2: 6/10. Scores: HP Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: HPQ daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Revenue GrowthDemandCloud & AI
negative📊 company
Rising Memory And Storage Costs Pressure Back-Half Margins
Memory and storage costs increased sequentially in Q2 and are expected to continue rising in Q3 and Q4. Management expects PS operating margins below long-term range for the remainder of FY2026, with Q4 as the trough.
Cost PressureMargin
mixed📊 company
Print Flat In Competitive Market, Tank Printers Gaining Share
Print revenue was flat YOY as expected, with hardware volume declines offset by pricing and currency. Consumer print declined 10% while big tank units grew double digits, gaining share YOY and sequentially.
Competitive DynamicsPricing
mixed📊 company
FY26 EPS Guidance Narrowed To $2.90-$3.10
Management narrowed FY26 non-GAAP EPS guidance to $2.90-$3.10, reflecting confidence in mitigation progress but acknowledging rising input costs through the back half of the year.
Guidance ReliabilityMargin
positive🏢 sector
AI At The Edge Driving Structural PC Demand Shift
Rising cloud costs for GenAI, along with latency and privacy concerns, are pushing AI workloads to the edge. HP expects AIPCs to reach 60%-70% of shipments next fiscal year and above 70% by FY2028.
Non-GAAP EPS came in at $0.86, above the guidance range, through accelerated product reconfiguration, lower-cost component qualification, strategic inventory usage, and differentiated repricing. Operating margin expanded 20 basis points YOY to 7.5%.
MarginCost PressurePricing
positive📊 company
Geographic Strength In APJ And EMEA From Win 11 Refresh
Constant currency revenue in APJ grew 18% and EMEA 6%, driven by Win 11 refresh catching up to Americas. Roughly 30% of the installed base remains on Windows 10, providing continued tailwind.
GAAP revenue YoY +8.99% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base7Base 7GAAP revenue YoY +8.99% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no distortion.+EPS0EPS 0GAAP EPS YoY +16.67% vs rev YoY +8.99%, GAAP spread +7.68 percentage points. GAAP operating income YoY -6.42%, operating income spread -15.41 percentage points → outside -5 percentage points, disagrees with EPS direction. OI contaminated by voluntary early retirement restructuring charges (qualifying charge on closed list). Non-GAAP EPS $0.86 up over 20% YoY; non-GAAP OP margin 7.5% up 20bps YoY → non-GAAP OI ~+12% YoY, non-GAAP operating income spread ~+3 percentage points (inside ±5 percentage points). Non-GAAP EPS outside +5 percentage points but non-GAAP operating income inside → divergence is non-operating (lower financing costs per CFO). OI wins.+Guidance-1Guidance -1FY26 non-GAAP EPS guide narrowed from $2.90-$3.20 (mid $3.05) to $2.90-$3.10 (mid $3.00). Change: ($3.00 - $3.05) / $3.05 = -1.64%. Lowered <3%.=Final6
How this score was built
Base7Base 7GAAP revenue YoY +8.99% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue is clean, no distortion.+
35.48
18.20
7
5
6
Oct 25Oct 26
Key financials
FY2026 Q2 selectedReported GAAP figures from SEC filings
The table scrolls sideways. Swipe it, or select it and use the arrow keys.
Quarter
Revenue
Rev YoY
EPS
EPS YoY
Gross margin
Op margin
Net margin
FCF
FY2024 Q4
$14.05B
+1.7%
$0.93
-4.1%
21.4%
7.1%
6.4%
$1.47B
FY2025 Q1
$13.50B
+2.4%
$0.59
-4.8%
21.0%
6.3%
4.2%
$72M
FY2025 Q2
$13.22B
+3.3%
$0.42
-31.1%
20.7%
4.9%
3.1%
$-145M
FY2025 Q3
$13.93B
+3.1%
$0.80
+23.1%
20.5%
5.1%
5.5%
$1.45B
FY2025 Q4
$14.64B
+4.2%
$0.84
-9.7%
20.2%
6.6%
5.4%
$1.43B
FY2026 Q1
$14.44B
+6.9%
$0.58
-1.7%
19.6%
5.3%
3.8%
$150M
FY2026 Q2Selected
$14.41B
+9.0%
$0.49
+16.7%
20.9%
4.2%
3.1%
$756M
FY2026 Q3
$15.68B
+12.5%
$0.71
-11.3%
18.8%
5.7%
4.2%
$1.55B
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“our net earnings per share was $0.86 up over 20% year-over-year”
Revenue
“We delivered 9% revenue growth year over year, or 6% in constant currency”
Guidance
“we now expect diluted net earnings per share to be in the range of $2.90 to $3.10”
Key metric
“we drove personal systems operating profit growth of 30% year-over-year. With operating margins at 5.2%”
EPS
0
EPS 0GAAP EPS YoY +16.67% vs rev YoY +8.99%, GAAP spread +7.68 percentage points. GAAP operating income YoY -6.42%, operating income spread -15.41 percentage points → outside -5 percentage points, disagrees with EPS direction. OI contaminated by voluntary early retirement restructuring charges (qualifying charge on closed list). Non-GAAP EPS $0.86 up over 20% YoY; non-GAAP OP margin 7.5% up 20bps YoY → non-GAAP OI ~+12% YoY, non-GAAP operating income spread ~+3 percentage points (inside ±5 percentage points). Non-GAAP EPS outside +5 percentage points but non-GAAP operating income inside → divergence is non-operating (lower financing costs per CFO). OI wins.
What HPQ said about other companies on its FY2026 Q2 call, and what other companies said about HPQ on their calls covering the same calendar quarter (Q2 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
HP Inc. delivered 9% revenue growth driven by a 13% surge in Personal Systems, with AIPC shipment mix climbing from 35% to 44%, while Print revenue remained flat in a competitive market
Dell posted a record first quarter, with revenue up 88% to $43.8 billion and non-GAAP EPS up 214% to $4.86, as a surge in AI server demand nearly doubled the top line
Everpure delivered an exceptionally strong Q1 fiscal 2027, with revenue up 35% year-over-year (product revenue +55% to $577 million) as an industry-wide component-cost supercycle and accelerating market-share gains drove broad-based demand that beat the high end of guidance
HP Inc. delivered 9% revenue growth driven by a 13% surge in Personal Systems, with AIPC shipment mix climbing from 35% to 44%, while Print revenue remained flat in a competitive market
Dell posted a record first quarter, with revenue up 88% to $43.8 billion and non-GAAP EPS up 214% to $4.86, as a surge in AI server demand nearly doubled the top line
Everpure delivered an exceptionally strong Q1 fiscal 2027, with revenue up 35% year-over-year (product revenue +55% to $577 million) as an industry-wide component-cost supercycle and accelerating market-share gains drove broad-based demand that beat the high end of guidance