HP Press Releases

HP Imagine 2026: HP Introduces LaserJet Portfolio with Quantum-Resistant Security and Faster Document Digitization

Tue, 24 Mar 2026 09:30:00 -0400

As 78% of SMBs struggle with printer management ¹ and 54% of organizations push for faster digitization, the new HP LaserJet portfolio offers 50% faster document processing, ² enhanced security, and AI-powered tools designed for hybrid work.

News Highlights

Introduces the HP LaserJet Pro 4000/4100 Series, delivering the fastest two‑sided printing in class, lower ongoing print costs, and the world’s first SMB printer with quantum‑resistant security³
Unveils the HP LaserJet Enterprise 5000/6000 Series, providing quick print and scan speeds, advanced HP AI workflow tools, and quantum‑resistant protection⁴

NEW YORK, March 24, 2026 (GLOBE NEWSWIRE) -- Today at Imagine 2026, HP Inc. (NYSE: HPQ) announced the new HP LaserJet Pro 4000/4100 Series and HP LaserJet Enterprise 5000/6000 Series, designed to help businesses bridge paper and digital workflows, strengthen security, simplify printer management, and support hybrid teams.

“Organizations are under pressure to digitize how work gets done while keeping their environments secure,” said Anneliese Olson, President of Imaging, Printing, and Solutions at HP Inc. “With our new LaserJet portfolio, we’re advancing secure, AI-powered printing to better connect the physical and digital sides of work, make document management easier, and give teams the reliable tools they need to stay productive.”

HP LaserJet Pro 4000/4100 Series: More performance. More savings. Same class.⁵
Designed for SMBs with limited IT support

Small businesses and enterprises alike face rising pressure to update printing and document management. HP’s Workflow Wakeup report highlights the urgency: 78% of SMBs struggle to manage hardware and supplies, 80% plan to adopt or expand print-related software to streamline operations, and 70% expect to shift IT budgets toward AI by 2027, signalling strong demand for more automated solutions.⁶

The HP LaserJet Pro 4000/4100 Series delivers professional-quality monochrome printing in a compact design built for small teams. Designed for SMBs with limited IT support, it is simple to set up, cost-efficient to run, easy to manage, and built with security features to help protect against evolving threats, whether teams are working in the office or remotely.

Key Customer Benefits

The HP LaserJet Pro 4000/4100 Series is HP’s most productive monochrome printer in the SMB Laser portfolio. It offers the fastest automatic two‑sided printing in its class⁷, smooth setup, and Wi‑Fi® 6 with self‑reset for reliable connectivity. SMBs also benefit from up to 25% lower ongoing print costs than the previous generation through our most efficient TerraJet Toner technology ever,⁸ backed by a three-year warranty.⁹

Security and Sustainability

World’s first SMB printer with quantum-resistant protection¹⁰, plus tamper‑resistant toner chips, firmware, and packaging. HP also offers streamlined security compliance and device management across the entire printer fleet with optional HP Security Manager.
Next generation TerraJet Toner is engineered for low-energy printing and enables 11%¹¹¹² more pages using less toner in a smaller cartridge.
Energy‑efficient design with EPEAT Gold, ENERGY STAR®, and Blue Angel certification.¹³

Smart Workflow Solutions

Smart print hub that simplifies setup and printer management, reducing the number of steps and making ongoing management easier without a dedicated IT team.
HP AI to optimize document formatting, enhance quality, and automate naming and sharing —eliminating manual rework and accelerating workflows.

HP LaserJet Enterprise 5000/6000 Series: Ultimate enterprise performance for the most demanding teams
Built for managed SMBs, self‑managed enterprises, and public sector organizations

Nearly half of organizations (47%) are increasing investment in modernizing print infrastructure to support evolving IT strategies and hybrid work. At the same time, digitization is accelerating, with 54% reporting faster plans to move toward digital workflows.¹⁴ Meanwhile, complex and distributed print environments are introducing new security risks, with experts predicting a 34% likelihood of quantum computer attacks by 2034.

The new HP LaserJet Enterprise 5000/6000 Series is built for large teams that rely on fast printing and dependable document digitization. With the advanced HP AI capabilities, world‑class security, and high‑speed performance, it is the ultimate A4 enterprise monochrome printer for busy office environments.

Key Customer Benefits

The HP LaserJet Enterprise 5000/6000 offers high-performance productivity, with automatic two-sided scanning up to 200 ipm and print speeds up to 57 ppm.¹⁵ HP FutureSmart firmware helps keep printer fleets up to date,¹⁶ and optional HP Smart Device Services can monitor devices and help resolve issues before they disrupt work.¹⁷ Additionally, 90% of the printer’s serviceable parts can be replaced in under eight minutes.

Security and Sustainability

Quantum-resistant¹⁸ and powered by HP Wolf Enterprise Security with up to 80% lower risk in cyberattack exposure.¹⁹
Energy‑efficient design with EPEAT Gold, ENERGY STAR®, and Blue Angel certifications,²⁰ helping organizations meet their sustainability goals.
Next-generation Monochrome TerraJet Toner is thoughtfully designed for energy efficiency²¹ and contains 30% recycled plastic content supporting circular design and reducing reliance on new materials.²²

Smart Workflow Solutions (HP AI)

Faster document processing with HP Scan AI Enhanced and Editable OCR helps teams turn large stacks of paperwork into searchable, editable files in seconds — cutting manual processing time by up to 50%.²³
Automated Guided Redaction detects and removes sensitive information, such as personal data or financial details, helping organizations support compliance requirements without adding extra review steps for IT.
Access to HP for Microsoft 365 Copilot through an HP Workpath app subscription installs Copilot’s AI tools directly on HP MFP control panels, helping employees summarize, name, translate, and organize document files in cloud drives.

Pricing and Availability²⁴

The HP LaserJet Pro 4000/4100 Series is expected to be available in May. Pricing will be available closer to availability.
The HP LaserJet Enterprise 5000/6000 Series is expected to be available for contract-based sales in March, with broader purchase availability in June. Pricing will be available closer to availability.

More information on today’s news at HP Imagine can be found here.

Frequently Asked Questions

Q1: What is the significance of this announcement?
HP is introducing a new generation of LaserJet Pro and Enterprise printers engineered for the realities of hybrid work, rising security risks, and growing demand for efficient digital workflows. The portfolio delivers faster document processing, AI‑powered print and scan enhancements, and the industry’s first quantum‑resistant security protections in SMB and enterprise printers.²⁵ Together, these advancements — all backed by a three-year warranty — help organizations modernize paper‑to‑digital processes, strengthen fleet security, and reduce the IT burden of managing print devices spread across the organization.

Q2: How is HP using AI differently in this new printer portfolio?
HP is embedding AI directly into tangible printing and scanning workflows to improve accuracy, speed, and document quality — without adding complexity for users or IT teams. With HP AI²⁶, SMB customers can automatically optimize formatting, naming, and document file organization, while enterprise devices add advanced capabilities like AI‑enhanced OCR and Guided Redaction. These AI features are designed to remove manual steps from document handling and help teams digitize information faster and more securely.

Q3: Who are these devices designed for, and how should businesses, IT decision makers, and other SMB owners choose the right one?
The LaserJet Pro 4000/4100 Series is built for lightly managed and unmanaged SMBs that need simple setup, reliable performance, and strong security in a compact device. The LaserJet Enterprise 5000/6000 Series is built for managed SMBs, large enterprises, and public‑sector organizations that require high‑speed scanning, advanced workflow automation, and fleet‑level security.

Businesses can choose the right device and optional HP services based on their document volume, management needs, and workflow complexity: Pro for small teams and straightforward printing, Enterprise for fast digitization, centralized IT control, and advanced security requirements.

About HP

HP Inc. (NYSE:HPQ) is a global technology leader redefining the Future of Work. Operating in more than 180 countries, HP delivers innovative and AI-powered devices, software, services and subscriptions that drive business growth and professional fulfillment. For more information, please visit: HP.com.

¹ Based on HP MAP data and SMB Panel Research conducted in March 2025, assessing customer insights from small and medium‑sized businesses with 10–999 FTEs.

² Testing evaluated workflows where AI-generated email summaries, subject lines, and file names were automatically created during the scan-to-email process. Results demonstrated an average time reduction of approximately 50% across the majority of tested use cases. Actual results may vary depending on document type, user behavior, and network conditions. Requires optional HP AI software to use artificial intelligence (AI). Summaries based on first 1000 words of document. Requires an Apple or Android mobile device, HP app or HP Easy Start and being signed into your HP account or Smart Admin account. Certain HP AI features are available in English only, and may vary by printer model/country, and between desktop/mobile applications. Internet access is required. HP may terminate this beta at any time and reserves the right to charge for these and additional services in the future in accordance with the HP AI Terms of Service. To learn more about HP AI features and local availability, visit hp.com/HP_AI.

³ Based on HP's internal analysis of business printers with preinstalled encryption, authentication, malware protection, post-quantum digital signature, and initial BIOS firmware integrity protection with automatic self-healing recovery finding that no other in-class Printers implement a quantum-resistant cryptographic scheme to protect the integrity of the BIOS and firmware as of March 2025.

⁴ Based on HP’s internal analysis of business Printers with preinstalled encryption, authentication, malware protection, post-quantum digital signature, and initial BIOS firmware integrity protection with automatic self-healing recovery finding that no other in-class Printers implement a quantum-resistant cryptographic scheme to protect the integrity of the BIOS and firmware as of March 2025.

⁵ Compared to in-class monochrome duplex laser printers less than $400 USD and €300 EUR, and duplex laser MFPs less than $500 USD and €400 EUR. Exact printer speeds vary depending on system configuration, software application, driver, and document complexity. Based on a Keypoint Intelligence April 2025 study commissioned by HP, using research of OEM-published specifications and publicly available information as of April 2025. Market share as reported by IDC for Q4 2024 for North America and Western Europe. For details, please visit: keypointintelligence.com/HPFastestDuplexM4000.

⁶ HP commissioned an online survey managed by Edelman Data & Intelligence (DXI) that fielded between August 5 and August 27, 2025 in four markets: the United States, UK, Germany, and India. HP surveyed 4,000 respondents in total, including 2,400 knowledge workers (600 per market), 800 IT leaders (200 per market), and 800 business leaders (200 per market) all employed at small and medium-sized businesses.

⁷ Compared to in-class monochrome duplex laser printers less than $400 USD and €300 EUR and duplex laser MFPs less than $500 USD and €400 EUR. Exact HP printer speeds vary depending on the system configuration, software application, driver, and document complexity. Keypoint Intelligence April 2025 study commissioned by HP, based on research of OEM-published specifications and publicly available information as of April 2025. Market share as reported by IDC for Q4 2024 for North America and Western Europe. Please visit: keypointintelligence.com/HPFastestDuplexM4000

⁸ Based on HP internal analysis as of March 2026, comparing the cost per page (CPP) of HP High Yield Black Original LaserJet Toner Cartridges: HP 161X vs. HP 148X in North America, and HP 162X vs. HP 149X in Europe.

⁹ Up to 3-year warranty available upon product registration within 60 days of purchase. Coverage is subject to HP’s warranty terms and conditions, including limitations, exclusions, and regional availability. Register at hp.com/go/89422 for full details.

¹⁰ Based on HP's internal analysis of business printers with preinstalled encryption, authentication, malware protection, post-quantum digital signature, and initial BIOS firmware integrity protection with automatic self-healing recovery finding that no other in-class Printers implement a quantum-resistant cryptographic scheme to protect the integrity of the BIOS and firmware as of March 2025.

¹¹ Toner efficiency of HP Original 161, 162, and 164 TerraJet Toner Cartridges compared to HP 148, 149, 151, and 152 Toner Cartridges. Calculated in 2026 using an average of pages printed per gram of toner. See hp.com/TerraJet/tonersaving for more information.

¹² An average of more pages per cartridge size in HP Original 161, 162, and 164 TerraJet Toner Cartridges compared to HP Original 148, 149, 151, and 152 Toner Cartridges. Calculated in 2026 using cartridge yield divided by cartridge volume. See hp.com/TerraJet/tonersaving for more information.

¹³ HP voluntarily designs and tests its printing systems to prevent emission s that exceed Blue Angel and EPEAT eco-label guidelines. Based on US, Canada, India, and Australia EPEAT® registration according to IEEE 1680.1-2018 EPEAT®. EPEAT® status varies by country. Visit www.energystar.gov/productfinder for more information on models of the HP LaserJet Enterprise 6500/MFP 6600 series that are ENERGY STAR certified in North America. ENERGY STAR and the ENERGY STAR logo are registered U.S. marks. HP printer, HP paper and Original HP supply - Blue Angel DE-UZ 219 Emissions Criteria.

¹⁴ Quocirca’s Future of Work 2030 study (September 2025) - assessing the convergence of print and digital technologies in the workplace. Based on a survey of 400 IT decision-makers and 400 knowledge workers in SMBs, mid-sized organizations, and large enterprises across the UK, France, Germany, and the US.

¹⁵ Measured using ISO/IEC 24734, excludes first set of test documents. For more information, see http://www.hp.com/go/printerclaims. Exact speed varies depending on the system configuration, software application, driver, and document complexity.

¹⁶ Some features enabled by future HP FutureSmart firmware upgrades may not be available on older devices, if for example, physical product characteristics limit the functionality of the new feature.

¹⁷ HP Smart Device Services (SDS) is supported on both A3 and A4 LaserJet devices, requires Original HP supplies to be installed in the device, and supports Managed, Enterprise, and Pro-class HP devices dating back to 2008. Capabilities vary based on the age of the legacy device and Pro-class capabilities. For details, see: https://hpsdsdevicesupport.com.

¹⁸ Based on HP’s internal analysis of business Printers with preinstalled encryption, authentication, malware protection, post-quantum digital signature, and initial BIOS firmware integrity protection with automatic self-healing recovery finding that no other in-class Printers implement a quantum-resistant cryptographic scheme to protect the integrity of the BIOS and firmware as of March 2025.

¹⁹ Relative reduction in cyberattack exposure: risk reduction estimate based on HP internal analysis and modeled comparisons. The approximate up to 80% reduction in effective risk reflects comparative evaluation of security capabilities in HP Enterprise printers versus other in-class leading print OEMs under defined threat models. The estimate is not a guarantee of security and does not account for all attack vectors. Actual risk reduction may vary based on device model and firmware version, configuration and security policy, network environment, usage patterns, EDR integration scope, and adversary capability and behavior.

²⁰ HP voluntarily designs and tests its printing systems to prevent emission s that exceed Blue Angel and EPEAT eco-label guidelines. Based on US, Canada, India, and Australia EPEAT® registration according to IEEE 1680.1-2018 EPEAT®. EPEAT® status varies by country. Visit www.energystar.gov/productfinder for more information on models of the HP LaserJet Enterprise 6500/MFP 6600 series that are ENERGY STAR certified in North America. ENERGY STAR and the ENERGY STAR logo are registered U.S. marks. HP printer, HP paper and Original HP supply - Blue Angel DE-UZ 219 Emissions Criteria.

²¹ Low-energy printing based on ENERGY STAR and Blue Angel (Der Blauer Engel), an ISO 14024 Type I ecolabel, which verify office printing systems consume relatively low energy within the product category.

²² Recycled plastic contained in Original HP 159, 160, W9087MC, W9088MC, and W9187MC TerraJet Toner Cartridges measured in 2026. See hp.com/TerraJet/plasticreductions and hp.com/TonerRecycledContent for more information.

²³ Based on HP internal analysis conducted in February 2026, comparing traditional scan-to-email workflows with HP AI Scan to Email Summary. Testing demonstrated an average time reduction of approximately 50% for common scan-to-email workflows. Results may vary depending on document type, user behavior, and network conditions.

²⁴ Pricing and availability subject to change without notice.

²⁵ Based on HP’s internal analysis of business Printers with preinstalled encryption, authentication, malware protection, post-quantum digital signature, and initial BIOS firmware integrity protection with automatic self-healing recovery finding that no other in-class Printers implement a quantum-resistant cryptographic scheme to protect the integrity of the BIOS and firmware as of March 2025.

²⁶ HP AI uses artificial intelligence (AI). Certain HP AI features are available in English only, and may vary by printer model/country, and between desktop/mobile applications. Requires HP app or HP Easy Start and being signed into your HP account or Smart Admin account. Internet access is required. Some features may be beta apps. HP reserves the right to charge for these and additional services in the future in accordance with the HP AI Terms of Service.

Media Contacts
HP Media Relations: MediaRelations@hp.com
HP.com/go/newsroom

Source: HP Inc.

HP Inc. Reports Fiscal 2026 First Quarter Results

Tue, 24 Feb 2026 16:15:00 -0500

PALO ALTO, Calif., Feb. 24, 2026 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

First quarter GAAP diluted net earnings per share ("EPS") of $0.58, down 1.7% from the prior year period

First quarter non-GAAP diluted net EPS of $0.81, up 9.5% from the prior year period

First quarter net revenue of $14.4 billion, up 6.9% from the prior-year period

First quarter net cash provided by operating activities of $383 million, free cash flow of $175 million

First quarter returned $0.6 billion to shareholders in the form of share repurchases and dividends

*HP Inc.'s fiscal 2026 first quarter financial performance*
	Q1 FY26			Q1 FY25			Y/Y
GAAP net revenue ($B)	$	14.4		$	13.5		6.9	%
GAAP operating margin		5.3	%		6.3	%	(1.0) pts
GAAP net earnings ($B)	$	0.5		$	0.6		(4	)%
GAAP diluted net EPS	$	0.58		$	0.59		(2	)%
Non-GAAP operating margin		6.9	%		7.3	%	(0.4) pts
Non-GAAP net earnings ($B)	$	0.8		$	0.7		7	%
Non-GAAP diluted net EPS	$	0.81		$	0.74		9	%
Net cash provided by operating activities ($B)	$	0.4		$	0.4		2	%
Free cash flow ($B)	$	0.2		$	0.1		150	%

Notes to table
Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Net revenue and EPS results
HP Inc. and its subsidiaries (“HP”) announced fiscal 2026 first quarter net revenue of $14.4 billion, up 6.9% (up 5.2% in constant currency) from the prior-year period.

"We are pleased to report a strong first quarter, highlighted by robust growth in Personal Systems, including the continued momentum in AI PCs. Our performance reflects the strength of our portfolio and our disciplined execution of our Future of Work strategy, even as we navigate industry-wide headwinds,” said Bruce Broussard, Interim CEO, HP Inc.

Broussard continued, “The transition from Board member to the Interim CEO role has been smooth and well-coordinated, underscoring the depth of our leadership team, the strength of our governance, and the exceptional talent across HP. We remain confident in our strategy and focused on delivering sustainable, long-term value for our customers and shareholders.”

“We are pleased with our execution in Q1, driving better than expected revenue growth and non-GAAP EPS above consensus.” said Karen Parkhill, CFO, HP Inc. “With just one quarter behind us in a dynamic environment marked by increasing memory costs, we are holding our outlook for the year yet currently anticipate results to be closer to the low end of our range. We are well practiced at managing through headwinds and remain focused on executing our mitigation plans.”

First quarter GAAP diluted net EPS was $0.58, down from $0.59 in the prior-year period and within the previously provided outlook of $0.58 to $0.66. First quarter non-GAAP diluted net EPS was $0.81, up from $0.74 in the prior-year period and within the previously provided outlook of $0.73 to $0.81. First quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $208 million, or $0.23 per diluted share, related to restructuring and other charges, acquisition and divestiture (credits) charges, net, amortization of intangible assets, certain litigation charges, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Asset management
HP's net cash provided by operating activities in the first quarter of fiscal 2026 was $383 million. Accounts receivable ended the quarter at $5.3 billion, down 2 days quarter over quarter to 33 days. Inventory ended the quarter at $8.7 billion, up 2 days quarter over quarter to 68 days. Accounts payable ended the quarter at $18.2 billion, up 2 days quarter over quarter to 141 days.

HP generated $175 million of free cash flow in the first quarter of fiscal 2026. Free cash flow includes net cash provided by operating activities of $383 million adjusted for net investments in leases from integrated financing of $25 million and net investments in property, plant, equipment and purchased intangible of $233 million.

HP’s dividend payment of $0.30 per share in the first quarter resulted in cash usage of $277 million. HP also utilized $325 million of cash during the quarter to repurchase approximately 13.3 million shares of common stock in the open market. HP exited the quarter with $3.2 billion in gross cash, which includes cash and cash equivalents of $3.2 billion, and short-term investments of $3 million included in other current assets.

Fiscal 2026 first quarter segment results

Personal Systems net revenue was $10.3 billion, up 11% year over year (up 9% in constant currency) with a 5.0% operating margin. Consumer PS net revenue was up 16% and Commercial PS net revenue was up 9%. Total units were up 12% with Consumer PS units up 14% and Commercial PS units up 11%.
Printing net revenue was $4.2 billion, down 2% year over year (down 3% in constant currency) with an 18.3% operating margin. Consumer Printing net revenue was down 8% and Commercial Printing net revenue was down 3%. Supplies net revenue was down 1% (down 2% in constant currency). Total hardware units were down 6%, with both Consumer and Commercial Printing units reflecting similar declines.

Outlook
For the fiscal 2026 second quarter, HP estimates GAAP diluted net EPS to be in the range of $0.52 to $0.58 and non-GAAP diluted net EPS to be in the range of $0.70 to $0.76. Fiscal 2026 second quarter non-GAAP diluted net EPS estimates exclude $0.18 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

For fiscal 2026, HP maintains its annual guidance with estimated GAAP diluted net EPS to be in the range of $2.47 to $2.77 and non-GAAP diluted net EPS to be in the range of $2.90 to $3.20. Fiscal 2026 non-GAAP diluted net EPS estimates exclude $0.43 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, certain litigation charges, tax adjustments, and the related tax impact on these items. For fiscal 2026, HP anticipates generating free cash flow in the range of $2.8 to $3.0 billion. However given the increasingly fluid operating environment, at this time HP expects to be at the lower end of the fiscal 2026 guidance range for GAAP diluted net EPS, non-GAAP diluted net EPS and free cash flow. HP’s outlook reflects the added cost driven by the current U.S. trade-related regulations in place, and associated mitigations.

More information on HP's earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at investor.hp.com.

HP's FY26 Q1 earnings conference call is accessible via audio webcast at www.hp.com/investor/2026Q1Webcast.

About HP Inc.
HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit http://www.hp.com.

Use of non-GAAP financial information
To supplement HP’s consolidated condensed financial statements presented on a generally accepted accounting principles (“GAAP”) basis, HP provides net revenue on a constant currency basis, non-GAAP total operating expense, non-GAAP operating profit, non-GAAP operating margin, non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings, non-GAAP diluted net EPS, free cash flow, gross cash and net cash (debt) financial measures. HP also provides forecasts of non-GAAP diluted net EPS and free cash flow. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables below or elsewhere in the materials accompanying this news release. In addition, an explanation of the ways in which HP’s management uses these non-GAAP measures to evaluate its business, the substance behind HP’s decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which HP’s management compensates for those limitations, and the substantive reasons why HP’s management believes that these non-GAAP measures provide useful information to investors is included under “Use of non-GAAP financial measures” after the tables below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for net revenue, operating expense, operating profit, operating margin, other income and expenses, tax rate, net earnings, diluted net EPS, cash provided by operating activities or cash, cash equivalents, and restricted cash prepared in accordance with GAAP.

Forward-looking statements
This document contains forward-looking statements based on current expectations and assumptions that involve risks and uncertainties. If the risks or uncertainties ever materialize or the assumptions prove incorrect, they could affect the business and results of operations of HP Inc. and its consolidated subsidiaries which may differ materially from those expressed or implied by such forward-looking statements and assumptions.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges, planned structural cost reductions and productivity initiatives; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our business model and transformation, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings (including the fiscal 2026 plan), net revenue or profitability improvements or other financial impacts; any statements concerning the expected development, demand, performance, market share or competitive performance relating to products or services; any statements concerning potential supply constraints, component shortages, manufacturing disruptions or logistics challenges; any statements regarding current or future macroeconomic trends or events, including global trade policies, and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims, disputes or other litigation matters; any statements of expectation or belief as to the timing and expected benefits of acquisitions and other business combination and investment transactions; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can also generally be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will,” “would,” “could,” “can,” “may,” and similar terms.

Risks, uncertainties and assumptions that could affect our business and results of operations include factors relating to HP’s ability to execute on its strategic plans, including the previously announced initiatives, business model changes and transformation; the development and transition of new products and services and the enhancement of existing products and services to meet evolving customer needs and respond to emerging technological trends, including artificial intelligence; the use of artificial intelligence; the impact of macroeconomic and geopolitical trends, changes and events, including global trade policies, the ongoing military conflict in Ukraine, continued instability in the Middle East or tensions in the Taiwan Strait and South China Sea and the regional and global ramifications of these events; volatility in global capital markets and foreign currency, changes in benchmark interest rates, the effects of inflation and instability of financial institutions; risks associated with HP’s international operations and the effects of business disruption events, including those resulting from climate change; the need to manage (and reliance on) third-party suppliers, including with respect to increasing memory and storage costs, supply constraints and component shortages, and the need to manage HP’s global, multi-tier distribution network and potential misuse of pricing programs by HP’s channel partners, adapt to new or changing marketplaces and effectively deliver HP’s services; the execution and performance of contracts by HP and its suppliers, customers, clients and partners, including logistical challenges with respect to such execution and performance; the competitive pressures faced by HP’s businesses; the impact of third-party claims of IP infringement; successfully innovating, developing and executing HP’s go-to-market strategy, including online, omnichannel and contractual sales, in an evolving distribution, reseller and customer landscape; successfully competing and maintaining the value proposition of HP’s products, including supplies and services; challenges to HP’s ability to accurately forecast inventories, demand and pricing, which may be due to HP’s multi-tiered channel, sales of HP’s products to unauthorized resellers or unauthorized resale of HP’s products or our uneven sales cycle; the hiring and retention of key employees, changes in our management team and execution of succession plans; the results of our restructuring plans (including the fiscal 2026 plan), including estimates and assumptions related to the cost (including any possible disruption of HP’s business) and the anticipated benefits of our restructuring plans; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; disruptions in operations from system security risks, data protection breaches, or cyberattacks; HP’s ability to maintain its credit rating, satisfy its debt obligations and complete any contemplated share repurchases, other capital return programs or other strategic transactions; changes in estimates and assumptions HP makes in connection with the preparation of its financial statements; the impact of changes to federal, state, local and foreign laws and regulations, including environmental regulations and tax laws; integration and other risks associated with business combination and investment transactions; our aspirations related to environmental and societal matters; potential impacts, liabilities and costs from pending or potential investigations, claims and disputes; the effectiveness of our internal control over financial reporting; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2025 and HP’s other filings with the Securities and Exchange Commission ("SEC"). HP’s fiscal 2026 plan includes HP’s efforts to drive customer satisfaction, product innovation, and productivity primarily through artificial intelligence adoption and enablement, and the resulting efficiencies, including those that enable a reduction in workforce. Anticipated cost savings associated with the fiscal 2026 plan represent expected gross reductions in costs from these measures. These cost savings are net of any new recurring costs resulting from these initiatives and exclude one-time investments to generate such savings. HP’s expectations on the longer-term sustainability of such cost savings are based on its current business operations and market dynamics and could be significantly impacted by various factors, including but not limited to HP’s evolving business models, future investment decisions, market environment and technology landscape.

As in prior periods, the financial information set forth in this document, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Annual Report on Form 10-K for the fiscal year ending October 31, 2026, Quarterly Reports on Form 10-Q for the fiscal quarters ending April 30, 2026 and July 31, 2026 and HP’s other filings with the SEC. The forward-looking statements in this document are made as of the date of this document and HP assumes no obligation and does not intend to update these forward-looking statements.

HP’s Investor Relations website at investor.hp.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted. The content of HP’s website is not incorporated by reference into this document or in any other report or document HP files with the SEC, and any references to HP’s website are intended to be inactive textual references only.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts)

	Three months ended
	January 31, 2026			October 31, 2025			January 31, 2025
Net revenue:
Products	$	13,598		$	13,770		$	12,695
Services		840			869			809
Total net revenue		14,438			14,639			13,504
Cost of net revenue:
Products		11,138			11,193			10,194
Services		465			484			470
Total cost of net revenue		11,603			11,677			10,664
Gross profit		2,835			2,962			2,840
Research and development		392			398			397
Selling, general and administrative		1,504			1,430			1,459
Restructuring and other charges		126			103			70
Acquisition and divestiture (credits) charges, net		(2	)		14			6
Amortization of intangible assets		56			58			63
Total operating expenses		2,076			2,003			1,995
Earnings from operations		759			959			845
Interest and other, net		(88	)		(125	)		(141	)
Earnings before taxes		671			834			704
Provision for taxes		(126	)		(39	)		(139	)
Net earnings	$	545		$	795		$	565

Net earnings per share:
Basic	$	0.59		$	0.85		$	0.60
Diluted	$	0.58		$	0.84		$	0.59

Cash dividends declared per share	$	0.60		$	—		$	0.58

Weighted-average shares used to compute net earnings per share:
Basic		926			938			948
Diluted		932			948			957

HP INC. AND SUBSIDIARIES ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	January 31, 2026						October 31, 2025						January 31, 2025
	Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share
GAAP net earnings	$	545		$	0.58		$	795		$	0.84		$	565		$	0.59
Non-GAAP adjustments:
Restructuring and other charges		126			0.14			103			0.11			70			0.07
Acquisition and divestiture (credits) charges, net		(2	)		—			14			0.01			6			0.01
Amortization of intangible assets		56			0.06			58			0.06			63			0.07
Certain litigation charges		56			0.06			35			0.04			—			—
Non-operating retirement-related credits		(11	)		(0.02	)		—			—			(5	)		(0.01	)
Tax adjustments^(a)		(17	)		(0.01	)		(128	)		(0.13	)		5			0.01
Non-GAAP net earnings	$	753		$	0.81		$	877		$	0.93		$	704		$	0.74

GAAP earnings from operations	$	759					$	959					$	845
Non-GAAP adjustments:
Restructuring and other charges		126						103						70
Acquisition and divestiture (credits) charges, net		(2	)					14						6
Amortization of intangible assets		56						58						63
Certain litigation charges		56						35						—
Non-GAAP earnings from operations	$	995					$	1,169					$	984

GAAP operating margin		5.3	%					6.6	%					6.3	%
Non-GAAP adjustments		1.6	%					1.4	%					1.0	%
Non-GAAP operating margin		6.9	%					8.0	%					7.3	%

(a)	Includes tax impact on non-GAAP adjustments.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions)

	As of
	January 31, 2026			October 31, 2025
ASSETS
Current assets:
Cash, cash equivalents and restricted cash	$	3,154		$	3,705
Accounts receivable, net		5,332			5,692
Inventory		8,737			8,512
Other current assets		5,003			4,544
Total current assets		22,226			22,453
Property, plant and equipment, net		3,053			3,049
Goodwill		8,724			8,706
Other non-current assets		7,532			7,561
Total assets	$	41,535		$	41,769

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Notes payable and short-term borrowings	$	861		$	845
Accounts payable		18,220			18,051
Other current liabilities		10,209			10,362
Total current liabilities		29,290			29,258
Long-term debt		8,838			8,821
Other non-current liabilities		4,173			4,036
Stockholders' deficit		(766	)		(346	)
Total liabilities and stockholders' deficit	$	41,535		$	41,769

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Three months ended
	January 31, 2026			January 31, 2025
Cash flows from operating activities:
Net earnings	$	545		$	565
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		214			197
Stock-based compensation expense		182			192
Restructuring and other charges		126			70
Deferred taxes on earnings		(39	)		(23	)
Other, net		31			35
Changes in operating assets and liabilities, net of divestitures
Accounts receivable		364			966
Inventory		(260	)		(751	)
Accounts payable		208			(397	)
Net investment in leases from integrated financing		(25	)		2
Taxes on earnings		(28	)		12
Restructuring and other		(99	)		(74	)
Other assets and liabilities		(836	)		(420	)
Net cash provided by operating activities		383			374
Cash flows from investing activities:
Investment in property, plant, equipment and purchased intangible		(233	)		(302	)
Purchases of available-for-sale securities and other investments		(5	)		(3	)
Maturities and sales of available-for-sale securities and other investments		19			5
Collateral posted for derivative instruments		(76	)		—
Proceeds from business divestitures, net		26			—
Net cash used in investing activities		(269	)		(300	)
Cash flows from financing activities:
Proceeds from debt		89			82
Payment of debt		(87	)		(50	)
Stock-based award activities and others		(73	)		(92	)
Repurchase of common stock		(325	)		(100	)
Cash dividends paid		(277	)		(273	)
Net cash used in financing activities		(673	)		(433	)
Decrease in cash, cash equivalents and restricted cash		(559	)		(359	)
Cash, cash equivalents and restricted cash at beginning of period		3,713			3,253
Cash, cash equivalents and restricted cash at end of period	$	3,154		$	2,894

HP INC. AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions)

	Three months ended									Change (%)
	January 31, 2026			October 31, 2025			January 31, 2025			Q/Q		Y/Y
Net revenue:^(a)
Commercial PS	$	7,253		$	6,971		$	6,645		4	%	9	%
Consumer PS		2,998			3,382			2,579		(11	)%	16	%
Personal Systems		10,251			10,353			9,224		(1	)%	11	%
Supplies		2,799			2,767			2,829		1	%	(1	)%
Commercial Printing		1,105			1,209			1,144		(9	)%	(3	)%
Consumer Printing		283			309			307		(8	)%	(8	)%
Printing		4,187			4,285			4,280		(2	)%	(2	)%
Corporate Investments^(b)		—			—			—		NM		NM
Total segment net revenue		14,438			14,638			13,504		(1	)%	7	%
Other^(b)		—			1			—		NM		NM
Total net revenue	$	14,438		$	14,639		$	13,504		(1	)%	7	%

Earnings before taxes:^(a)
Personal Systems	$	511		$	597		$	507
Printing		765			793			801
Corporate Investments		(24	)		(22	)		(18	)
Total segment earnings from operations		1,252			1,368			1,290
Corporate and unallocated cost and other		(75	)		(109	)		(114	)
Stock-based compensation expense		(182	)		(90	)		(192	)
Restructuring and other charges		(126	)		(103	)		(70	)
Acquisition and divestiture credits (charges), net		2			(14	)		(6	)
Amortization of intangible assets		(56	)		(58	)		(63	)
Certain litigation charges		(56	)		(35	)		—
Interest and other, net		(88	)		(125	)		(141	)
Total earnings before taxes	$	671		$	834		$	704

(a)

Effective at the beginning of its first quarter of fiscal year 2026, HP realigned its business unit financial reporting to reflect the transition of the Print-as-a-Service business from Corporate Investments to Printing. HP reflected this change to its business unit information in prior reporting periods on an as-if basis which resulted in the reclassification of segment net revenue, cost of net revenue and operating expenses from the Corporate Investments segment to Supplies and Consumer Printing. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.

(b)

"NM" represents not meaningful.

HP INC. AND SUBSIDIARIES SEGMENT OPERATING MARGIN SUMMARY (Unaudited)

	Three months ended						Change (pts)
	January 31, 2026		October 31, 2025		January 31, 2025		Q/Q	Y/Y
Segment operating margin:
Personal Systems	5.0	%	5.8	%	5.5	%	(0.8)pts	(0.5)pts
Printing^(a)	18.3	%	18.5	%	18.7	%	(0.2)pts	(0.4)pts
Corporate Investments^(b)	NM		NM		NM		NM	NM
Total segment	8.7	%	9.3	%	9.6	%	(0.6)pts	(0.9)pts

(a)

(b)

"NM" represents not meaningful.

HP INC. AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	January 31, 2026		October 31, 2025		January 31, 2025
Numerator:
GAAP net earnings	$	545	$	795	$	565
Non-GAAP net earnings	$	753	$	877	$	704

Denominator:
Weighted-average shares used to compute basic net earnings per share		926		938		948
Dilutive effect of employee stock plans^(a)		6		10		9
Weighted-average shares used to compute diluted net earnings per share		932		948		957

GAAP diluted net earnings per share	$	0.58	$	0.84	$	0.59
Non-GAAP diluted net earnings per share	$	0.81	$	0.93	$	0.74

(a)	Includes any dilutive effect of restricted stock units, stock options and performance-based awards.

HP INC. AND SUBSIDIARIES SEGMENT / BUSINESS UNIT INFORMATION (Revised) (Unaudited) (In millions)

	REVISED AMOUNTS													AMOUNTS AS PREVIOUSLY REPORTED													CHANGE

	Three months ended										Twelve months ended			Three months ended										Twelve months ended			Three months ended												Twelve months ended

	Jan 31, 2025		Apr 31, 2025			Jul 31, 2025			Oct 31, 2025		Oct 31, 2025			Jan 31, 2025		Apr 31, 2025			Jul 31, 2025			Oct 31, 2025		Oct 31, 2025			Jan 31, 2025			Apr 31, 2025			Jul 31, 2025			Oct 31, 2025			Oct 31, 2025
Net revenue:^(a)
Commercial PS	$	6,645	$	6,786		$	7,036		$	6,971	$	27,438		$	6,645	$	6,786		$	7,036		$	6,971	$	27,438		$	—		$	—		$	—		$	—		$	—
Consumer PS		2,579		2,238			2,895			3,382		11,094			2,579		2,238			2,895			3,382		11,094			—			—			—			—			—
Personal Systems		9,224		9,024			9,931			10,353		38,532			9,224		9,024			9,931			10,353		38,532			—			—			—			—			—
Supplies		2,829		2,728			2,609			2,767		10,933			2,826		2,725			2,604			2,761		10,916			3			3			5			6			17
Commercial Printing		1,144		1,167			1,113			1,209		4,633			1,144		1,167			1,113			1,209		4,633			—			—			—			—			—
Consumer Printing		307		302			280			309		1,198			299		289			269			296		1,153			8			13			11			13			45
Printing		4,280		4,197			4,002			4,285		16,764			4,269		4,181			3,986			4,266		16,702			11			16			16			19			62
Corporate Investments		—		—			—			—		—			11		16			16			19		62			(11	)		(16	)		(16	)		(19	)		(62	)
Total segment net revenue		13,504		13,221			13,933			14,638		55,296			13,504		13,221			13,933			14,638		55,296			—			—			—			—			—
Other		—		(1	)		(1	)		1		(1	)		—		(1	)		(1	)		1		(1	)		—			—			—			—			—
Total net revenue	$	13,504	$	13,220		$	13,932		$	14,639	$	55,295		$	13,504	$	13,220		$	13,932		$	14,639	$	55,295		$	—		$	—		$	—		$	—		$	—

(a)

HP INC. AND SUBSIDIARIES SEGMENT / BUSINESS UNIT INFORMATION (Revised) (Unaudited) (In millions)

	REVISED AMOUNTS											AMOUNTS AS PREVIOUSLY REPORTED											CHANGE

	Three months ended									Twelve months ended		Three months ended									Twelve months ended		Three months ended											Twelve months ended

	Jan 31, 2024			Apr 31, 2024		Jul 31, 2024		Oct 31, 2024		Oct 31, 2024		Jan 31, 2024			Apr 31, 2024		Jul 31, 2024		Oct 31, 2024		Oct 31, 2024		Jan 31, 2024		Apr 31, 2024			Jul 31, 2024			Oct 31, 2024			Oct 31, 2024
Net revenue:^(a)
Commercial PS	$	6,045		$	6,242	$	6,677	$	6,522	$	25,486	$	6,045		$	6,242	$	6,677	$	6,522	$	25,486	$	—	$	—		$	—		$	—		$	—
Consumer PS		2,764			2,184		2,692		3,069		10,709		2,764			2,184		2,692		3,069		10,709		—		—			—			—			—
Personal Systems		8,809			8,426		9,369		9,591		36,195		8,809			8,426		9,369		9,591		36,195		—		—			—			—			—
Supplies		2,863			2,864		2,704		2,867		11,298		2,863			2,864		2,703		2,865		11,295		—		—			1			2			3
Commercial Printing		1,227			1,205		1,147		1,262		4,841		1,227			1,205		1,147		1,262		4,841		—		—			—			—			—
Consumer Printing		285			300		299		333		1,217		285			299		293		325		1,202		—		1			6			8			15
Printing		4,375			4,369		4,150		4,462		17,356		4,375			4,368		4,143		4,452		17,338		—		1			7			10			18
Corporate Investments		2			4		—		1		7		2			5		7		11		25		—		(1	)		(7	)		(10	)		(18	)
Total segment net revenue		13,186			12,799		13,519		14,054		53,558		13,186			12,799		13,519		14,054		53,558		—		—			—			—			—
Other		(1	)		1		—		1		1		(1	)		1		—		1		1		—		—			—			—			—
Total net revenue	$	13,185		$	12,800	$	13,519	$	14,055	$	53,559	$	13,185		$	12,800	$	13,519	$	14,055	$	53,559	$	—	$	—		$	—		$	—		$	—

(a)

HP INC. AND SUBSIDIARIES FISCAL 2025 SEGMENT INFORMATION (Revised) (Unaudited) (In millions)

	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															CHANGE

	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended

	Jan 31, 2025			Apr 31, 2025			Jul 31, 2025			Oct 31, 2025			Oct 31, 2025			Jan 31, 2025			Apr 31, 2025			Jul 31, 2025			Oct 31, 2025			Oct 31, 2025			Jan 31, 2025			Apr 31, 2025			Jul 31, 2025			Oct 31, 2025			Oct 31, 2025
Net revenue:^(a)
Personal Systems	$	9,224		$	9,024		$	9,931		$	10,353		$	38,532		$	9,224		$	9,024		$	9,931		$	10,353		$	38,532		$	—		$	—		$	—		$	—		$	—
Printing		4,280			4,197			4,002			4,285			16,764			4,269			4,181			3,986			4,266			16,702			11			16			16			19			62
Corporate Investments		—			—			—			—			—			11			16			16			19			62			(11	)		(16	)		(16	)		(19	)		(62	)
Total segment net revenue		13,504			13,221			13,933			14,638			55,296			13,504			13,221			13,933			14,638			55,296			—			—			—			—			—
Other		—			(1	)		(1	)		1			(1	)		—			(1	)		(1	)		1			(1	)		—			—			—			—			—
Total net revenue	$	13,504		$	13,220		$	13,932		$	14,639		$	55,295		$	13,504		$	13,220		$	13,932		$	14,639		$	55,295		$	—		$	—		$	—		$	—		$	—

Earnings before taxes:^(a)
Personal Systems	$	507		$	409		$	541		$	597		$	2,054		$	507		$	409		$	541		$	597		$	2,054		$	—		$	—		$	—		$	—		$	—
Printing		801			804			681			793			3,079			810			814			689			805			3,118			(9	)		(10	)		(8	)		(12	)		(39	)
Corporate Investments		(18	)		(27	)		(24	)		(22	)		(91	)		(27	)		(37	)		(32	)		(34	)		(130	)		9			10			8			12			39
Total segment earnings from operations		1,290			1,186			1,198			1,368			5,042			1,290			1,186			1,198			1,368			5,042			—			—			—			—			—
Corporate and unallocated cost and other		(114	)		(85	)		(103	)		(109	)		(411	)		(114	)		(85	)		(103	)		(109	)		(411	)		—			—			—			—			—
Stock-based compensation expense		(192	)		(140	)		(100	)		(90	)		(522	)		(192	)		(140	)		(100	)		(90	)		(522	)		—			—			—			—			—
Restructuring and other charges		(70	)		(122	)		(110	)		(103	)		(405	)		(70	)		(122	)		(110	)		(103	)		(405	)		—			—			—			—			—
Acquisition and divestiture charges		(6	)		(17	)		(8	)		(14	)		(45	)		(6	)		(17	)		(8	)		(14	)		(45	)		—			—			—			—			—
Amortization of intangible assets		(63	)		(65	)		(159	)		(58	)		(345	)		(63	)		(65	)		(159	)		(58	)		(345	)		—			—			—			—			—
Certain litigation charges		—			(103	)		(2	)		(35	)		(140	)		—			(103	)		(2	)		(35	)		(140	)		—			—			—			—			—
Interest and other, net		(141	)		(148	)		(92	)		(125	)		(506	)		(141	)		(148	)		(92	)		(125	)		(506	)		—			—			—			—			—
Total earnings before taxes	$	704		$	506		$	624		$	834		$	2,668		$	704		$	506		$	624		$	834		$	2,668		$	—		$	—		$	—		$	—		$	—

(a)

HP INC. AND SUBSIDIARIES FISCAL 2024 SEGMENT INFORMATION (Revised) (Unaudited) (In millions)

	REVISED AMOUNTS															AMOUNTS AS PREVIOUSLY REPORTED															CHANGE

	Three months ended												Twelve months ended			Three months ended												Twelve months ended			Three months ended												Twelve months ended

	Jan 31, 2024			Apr 31, 2024			Jul 31, 2024			Oct 31, 2024			Oct 31, 2024			Jan 31, 2024			Apr 31, 2024			Jul 31, 2024			Oct 31, 2024			Oct 31, 2024			Jan 31, 2024			Apr 31, 2024			Jul 31, 2024			Oct 31, 2024			Oct 31, 2024
Net revenue:^(a)
Personal Systems	$	8,809		$	8,426		$	9,369		$	9,591		$	36,195		$	8,809		$	8,426		$	9,369		$	9,591		$	36,195		$	—		$	—		$	—		$	—		$	—
Printing		4,375			4,369			4,150			4,462			17,356			4,375			4,368			4,143			4,452			17,338			—			1			7			10			18
Corporate Investments		2			4			—			1			7			2			5			7			11			25			—			(1	)		(7	)		(10	)		(18	)
Total segment net revenue		13,186			12,799			13,519			14,054			53,558			13,186			12,799			13,519			14,054			53,558			—			—			—			—			—
Other		(1	)		1			—			1			1			(1	)		1			—			1			1			—			—			—			—			—
Total net revenue	$	13,185		$	12,800		$	13,519		$	14,055		$	53,559		$	13,185		$	12,800		$	13,519		$	14,055		$	53,559		$	—		$	—		$	—		$	—		$	—

Earnings before taxes:^(a)
Personal Systems	$	537		$	508		$	617		$	591		$	2,253		$	537		$	508		$	617		$	591		$	2,253		$	—		$	—		$	—		$	—		$	—
Printing		865			812			699			858			3,234			872			829			715			874			3,290			(7	)		(17	)		(16	)		(16	)		(56	)
Corporate Investments		(30	)		(13	)		(12	)		(21	)		(76	)		(37	)		(30	)		(28	)		(37	)		(132	)		7			17			16			16			56
Total segment earnings from operations		1,372			1,307			1,304			1,428			5,411			1,372			1,307			1,304			1,428			5,411			—			—			—			—			—
Corporate and unallocated cost and other		(89	)		(88	)		(101	)		(103	)		(381	)		(89	)		(88	)		(101	)		(103	)		(381	)		—			—			—			—			—
Stock-based compensation expense		(177	)		(94	)		(96	)		(85	)		(452	)		(177	)		(94	)		(96	)		(85	)		(452	)		—			—			—			—			—
Restructuring and other charges		(63	)		(71	)		(46	)		(121	)		(301	)		(63	)		(71	)		(46	)		(121	)		(301	)		—			—			—			—			—
Acquisition and divestiture charges		(27	)		(22	)		(22	)		(12	)		(83	)		(27	)		(22	)		(22	)		(12	)		(83	)		—			—			—			—			—
Amortization of intangible assets		(81	)		(80	)		(81	)		(76	)		(318	)		(81	)		(80	)		(81	)		(76	)		(318	)		—			—			—			—			—
Certain litigation charges		—			—			(18	)		(40	)		(58	)		—			—			(18	)		(40	)		(58	)		—			—			—			—			—
Interest and other, net		(142	)		(155	)		(113	)		(129	)		(539	)		(142	)		(155	)		(113	)		(129	)		(539	)		—			—			—			—			—
Total earnings before taxes	$	793		$	797		$	827		$	862		$	3,279		$	793		$	797		$	827		$	862		$	3,279		$	—		$	—		$	—		$	—		$	—

(a)

Use of non-GAAP financial measures

To supplement HP’s consolidated condensed financial statements presented on a GAAP basis, HP provides net revenue on a constant currency basis, non-GAAP total operating expense, non-GAAP operating profit, non-GAAP operating margin, non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings, non-GAAP diluted net EPS, free cash flow, gross cash and net cash (debt). HP also provides forecasts of non-GAAP diluted net EPS and free cash flow.

These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables above or elsewhere in the materials accompanying this news release.

Use and economic substance of non-GAAP financial measures

Net revenue on a constant currency basis excludes the effect of foreign currency exchange fluctuations calculated by translating current period revenues using monthly exchange rates from the comparative period and excluding any hedging impact recognized in the current period. Non-GAAP operating margin is defined to exclude the effects of any amounts relating to restructuring and other charges, acquisition and divestiture (credits) charges, net, amortization of intangible assets and certain litigation charges. Non-GAAP net earnings and non-GAAP diluted net EPS consist of net earnings or diluted net EPS excluding those same charges, non-operating retirement related (credits)/charges, tax adjustments and the amount of additional taxes or tax benefits associated with each non-GAAP item.

HP’s management uses these non-GAAP financial measures for purposes of evaluating HP’s historical and prospective financial performance, as well as HP’s performance relative to its competitors. HP’s management also uses these non-GAAP measures to further its own understanding of HP’s segment operating performance. HP believes that excluding the items mentioned above for these non-GAAP financial measures allows HP’s management to better understand HP’s consolidated financial performance in relation to the operating results of HP’s segments, as HP’s management does not believe that the excluded items are reflective of ongoing operating results. More specifically, HP’s management excludes each of those items mentioned above for the following reasons:

Restructuring and other charges are (i) costs associated with a formal restructuring plan and are primarily related to employee separation from service and early retirement costs and related benefits, costs of real estate consolidation and other non-labor charges; and (ii) other charges, which are distinct from ongoing operational costs and primarily include third party professional services and other non-recurring costs relating to artificial intelligence adoption and enablement costs and information technology rationalization efforts. HP excludes these restructuring and other charges (and any reversals of charges recorded in prior periods) for purposes of calculating these non-GAAP measures because HP believes that these costs do not reflect expected future operating expenses and excluding such expenses for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP's current operating performance and comparing operating performance to other periods.
HP incurs (credits)/ cost related to its acquisitions and divestitures, which it would not have otherwise incurred as part of its operations. The (credits)/ charges are gains on divestitures, direct expenses such as third-party professional and legal fees, integration and divestiture-related costs, as well as non-cash adjustments to the fair value of certain acquired assets such as inventory and certain compensation charges related to cash settlement of restricted stock units and performance-based restricted stock units towards acquisitions. These (credits)/ charges related to acquisitions and divestitures are inconsistent in amount and frequency and are significantly impacted by the timing and nature of HP's acquisitions or divestitures. HP believes that eliminating such (credits)/ charges for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP incurs charges relating to the amortization of intangible assets. Those charges are included in HP’s GAAP earnings, operating margin, net earnings and diluted net EPS. Such charges are significantly impacted by the timing and magnitude of HP’s acquisitions and any related impairment charges. Consequently, HP excludes these charges for purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP incurs settlement expenses from backward-looking claims that arise from certain existing or threatened Standard Essential Patent (“SEP”) litigation that is distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business. HP excludes these SEP litigation expenses for purposes of calculating these non-GAAP measures.
HP incurs debt extinguishment (benefit) costs, which includes certain (gain)/loss related to the repurchase of certain of its outstanding U.S. dollar global notes or termination of commitments under revolving credit facilities. This (gain)/loss resulting from debt redemption transactions are partially or more than offset by costs such as bond repurchase premiums, bank fees, unpaid accrued interests, etc. HP excludes these (benefit)/costs for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
Non-operating retirement-related (credits) charges include certain market-related factors such as interest cost, expected return on plan assets, amortized actuarial gains or losses, associated with HP’s defined benefit pension and post-retirement benefit plans. The market-driven retirement-related adjustments are primarily due to the changes in the value of pension plan assets and liabilities which are tied to financial market performance and HP considers these adjustments to be outside the operational performance of the business. Non-operating retirement-related (credits) charges also include certain plan curtailments, settlements and special termination benefits related to HP’s defined benefit pension and post-retirement benefit plans. HP believes that eliminating such adjustments for purposes of calculating non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP recorded tax adjustments including tax expenses and benefits from internal reorganizations, realizability of certain deferred tax assets, various tax rate and regulatory changes, and tax settlements across various jurisdictions. HP excludes these adjustments for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

Free cash flow is a non-GAAP measure that is defined as cash flow provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangibles. Gross cash is a non-GAAP measure that is defined as cash, cash equivalents and restricted cash plus short-term investments and certain long-term investments that may be liquidated within 90 days pursuant to the terms of existing put options or similar rights. HP’s management uses free cash flow and gross cash for the purpose of determining the amount of cash available for investment in HP’s businesses, repurchasing stock and other purposes. HP’s management also uses free cash flow and gross cash to evaluate HP’s historical and prospective liquidity. Because gross cash includes liquid assets that are not included in cash, cash equivalents and restricted cash, HP believes that gross cash provides a helpful assessment of HP’s liquidity. Because free cash flow includes net cash provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangibles, HP believes that free cash flow provides a useful assessment of HP’s liquidity and capital resources. Net cash (debt) is defined as gross cash less gross debt after adjusting the effect of unamortized premium/discount on debt issuance, debt issuance costs and gains/losses on interest rate swaps.

Key Growth Areas

Key Growth Areas represent HP’s businesses which management expects to collectively grow at a rate faster than HP’s core business with accretive margins in the longer term. HP’s Key Growth Areas are comprised of:

Hybrid Systems: Video conferencing solutions, cameras, headsets, voice, and related software capabilities

Advanced Compute Solutions: Diverse portfolio encompassing high-performance computing, mobile and desktop workstations, retail workstations, retail solutions, and emerging technologies to address complex computational tasks, data-intensive applications, and evolving industry needs.

AI PC: PCs, excluding Workstations, equipped with dedicated hardware components like Neural Processing Units (NPUs), are designed to facilitate and enhance the execution of AI and machine learning tasks.

Workforce Solutions: Managed services (Managed Print Service and Device-as-a-Service), digital services and lifecycle services

Consumer Subscriptions: Instant Ink services, other consumer subscriptions and consumer digital services

Industrial Graphics: Large Format Industrial, Page Wide Press (PWP), Indigo and Page Wide Industrial packaging solutions and supplies

3D & Personalization: Portfolio of additive manufacturing solutions and supplies including end-to-end solutions such as molded fiber, footwear and orthotics

Material limitations associated with use of non-GAAP financial measures

These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are:

Items such as amortization of intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this change in value is not included in non-GAAP operating margin, non-GAAP net earnings and non-GAAP diluted net EPS, and therefore does not reflect the full economic effect of the change in value of those intangible assets.
Items such as restructuring and other charges, acquisition and divestiture (credits) charges, net, amortization of intangible assets, certain litigation charges are excluded from non-GAAP operating margin. In addition, non-operating retirement-related (credits) charges, debt extinguishment costs (benefit), and tax adjustments are excluded from non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings and non-GAAP diluted net EPS. These items can have a material impact on the equivalent GAAP earnings measure and cash flows.
HP may not be able to immediately liquidate the short-term and certain long-term investments included in gross cash, which may limit the usefulness of gross cash as a liquidity measure.

Other companies may calculate the non-GAAP financial measures differently than HP, limiting the usefulness of those measures for comparative purposes.

Compensation for limitations associated with use of non-GAAP financial measures

HP accounts for the limitations on its use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only supplementally. HP also provides reconciliations of each non-GAAP financial measure to its most directly comparable GAAP measure within this news release and in other written materials that include these non-GAAP financial measures, and HP encourages investors to review those reconciliations carefully.

Usefulness of non-GAAP financial measures to investors

HP believes that providing net revenue on a constant currency basis, non-GAAP total operating expense, non-GAAP operating profit, non-GAAP operating margin, non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings, non-GAAP diluted net EPS, free cash flow, gross cash and net cash (debt) to investors in addition to the related GAAP financial measures provides investors with greater insight to the information used by HP’s management in its financial and operational decision making and allows investors to see HP’s results “through the eyes” of management. HP further believes that providing this information better enables HP’s investors to understand HP’s operating performance and financial condition and to evaluate the efficacy of the methodology and information used by HP’s management to evaluate and measure such performance and financial condition. Disclosure of these non-GAAP financial measures also facilitates comparisons of HP’s operating performance with the performance of other companies in HP’s industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner.

HP Inc. Media Relations
MediaRelations@hp.com

HP Inc. Investor Relations
InvestorRelations@hp.com

Source: HP Inc.

HP Inc. Sets Annual Meeting and Record Dates

Fri, 06 Feb 2026 18:30:00 -0500

PALO ALTO, Calif., Feb. 06, 2026 (GLOBE NEWSWIRE) -- The HP Inc. (NYSE: HPQ) board of directors has established a record date for its 2026 annual meeting of stockholders. HP Inc.'s stockholders of record at the close of business on February 17, 2026 will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting. The annual meeting is scheduled to be held on April 16, 2026.

HP Inc. will make available to all stockholders of record important information about the meeting and the matters to be considered. Stockholders are urged to review that information when it becomes available.

About HP Inc.
HP Inc. (NYSE:HPQ) is a global technology leader redefining the Future of Work. Operating in more than 180 countries, HP delivers innovative and AI-powered devices, software, services and subscriptions that drive business growth and professional fulfillment. For more information, please visit: HP.com.

HP Inc. Media Relations MediaRelations@hp.com	HP Inc. Investor Relations InvestorRelations@hp.com

www.hp.com/go/newsroom

Source: HP Inc.

HP Inc. to Announce First Quarter Fiscal 2026 Earnings on Feb 24, 2026

Tue, 03 Feb 2026 07:00:00 -0500

PALO ALTO, Calif., Feb. 03, 2026 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) will present a live audio webcast of a conference call to review financial results for the first fiscal quarter ended January 31, 2026 on Tuesday, Feb 24, 2026 at 5:00 p.m. ET / 2:00 p.m. PT.

The webcast will be available at www.hp.com/investor/2026Q1Webcast.

A replay of the audio webcast will be available at the same website shortly after the call and will remain available for approximately one year.

About HP Inc.

HP Inc. (NYSE: HPQ) is a global technology leader redefining the Future of Work. Operating in more than 180 countries, HP delivers innovative and AI-powered devices, software, services and subscriptions that drive business growth and professional fulfillment. For more information, please visit: http://www.hp.com.

HP Inc. Media Relations MediaRelations@hp.com	HP Inc. Investor Relations InvestorRelations@hp.com

www.hp.com/go/newsroom

Source: HP Inc.

HP Inc. Announces Leadership Transition

Tue, 03 Feb 2026 06:59:00 -0500

Board Member Bruce Broussard Appointed Interim Chief Executive Officer

Enrique Lores Steps Down as President and CEO to Pursue Another Professional Opportunity

Company Reaffirms First Quarter and Fiscal 2026 Outlook

PALO ALTO, Calif., Feb. 03, 2026 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today announced that Bruce Broussard, a member of the company’s Board of Directors since 2021, has been appointed Interim Chief Executive Officer (“CEO”), effective immediately. He succeeds Enrique Lores, who has stepped down as President and CEO and as a member of the Board to pursue another professional opportunity. The Board has formed a CEO Search Committee to identify the company’s next CEO and has retained a leading global executive search firm to assist with the process.

As Interim CEO, Mr. Broussard will advance the company’s strategic priorities by leveraging his proven operational, financial, and business management expertise as well as his deep knowledge of HP’s business. Mr. Broussard is a seasoned executive with more than 30 years of leadership experience at public companies. He most recently served as President and CEO of Humana Inc., a leading healthcare company, for more than a decade. Before that, Mr. Broussard served in multiple capacities during his 11-year tenure at US Oncology, including Chief Financial Officer, Chief Executive Officer, and Chairman of the Board. Upon the sale to McKesson, he became the President of the Specialty Pharmacy Division.

“This is an important time in HP’s history as the company advances its plan to lead the Future of Work,” said Chip Bergh, Chairman of the Board. “Disciplined execution is delivering consistent progress in a dynamic environment. We are confident that Bruce will successfully drive the company’s initiatives forward, working closely with HP’s strong leadership team. Since joining the Board, Bruce has been a valued contributor, steadfastly focused on shareholder value creation. We believe we have the right strategy in place, and Bruce is the right leader to move HP forward while we identify our next CEO.”

Mr. Broussard commented, “HP is shaping the next era of technology with a relentless commitment to empowering people and businesses to thrive, and I am honored to serve as Interim CEO. This proven team’s dedication to operational excellence has created significant momentum across the business amidst a complex environment. I look forward to being an effective steward of the company’s strategic progress and providing stability and continuity as we run a CEO search process. As we begin fiscal 2026, we will continue to drive our One HP platform to deliver technology that promotes growth and professional fulfillment for our customers and sustained value creation for our shareholders.”

Mr. Bergh continued, “On behalf of everyone at HP, I want to thank Enrique for his contributions over the last 36 years and leadership as CEO for the last seven years. Enrique has guided HP through its recent transformation and helped position the company to lead the Future of Work. We wish him well in his next chapter.”

“I came to HP as an intern nearly four decades ago, and I’ve been on an incredible journey ever since,” said Mr. Lores. “It has been an honor to lead HP through its evolution into an AI-driven technology company that is redefining workplace solutions and connecting with customers globally. Over the last several years, our resilient team has successfully navigated the evolution of our world. We extended our leadership in Print and PCs, diversified our business with the addition of HP Solutions, and invested in our people. With strong teams around the world and a clear strategy for long-term growth, HP is well-positioned for the future, and I will continue to champion the team’s success.”

Reaffirming First Quarter and Fiscal 2026 Outlook
The company is reaffirming its outlook for the first quarter and full fiscal year 2026 as provided on November 25, 2025. For the first quarter, HP continues to expect GAAP diluted net EPS in the range of $0.58 to $0.66 and non-GAAP diluted net EPS in the range of $0.73 to $0.81. Fiscal 2026 first quarter non-GAAP diluted net EPS estimates exclude $0.15 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

For fiscal 2026, HP continues to expect GAAP diluted net EPS in the range of $2.47 to $2.77 and non-GAAP diluted net EPS in the range of $2.90 to $3.20. Fiscal 2026 non-GAAP diluted net EPS estimates exclude $0.43 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items. For fiscal 2026, HP anticipates generating free cash flow in the range of $2.8 to $3.0 billion. HP’s outlook reflects the added cost driven by the current U.S. trade-related regulations in place, and associated mitigations.

First Quarter Fiscal 2026 Earnings
In a separate press release issued today, HP announced that it will present a live audio webcast of a conference call to review financial results for the first fiscal quarter ended January 31, 2026, on Tuesday, February 24, 2026, at 5:00 p.m. ET / 2:00 p.m. PT. The webcast will be available at www.hp.com/investor/2026Q1Webcast.

About HP Inc.
HP Inc. (NYSE: HPQ) is a global technology leader redefining the Future of Work. Operating in more than 180 countries, HP delivers innovative and AI-powered devices, software, services and subscriptions that drive business growth and professional fulfillment. For more information, please visit: HP.com.

Forward-Looking Statements
This press release contains forward-looking statements based on current expectations and assumptions that involve risks and uncertainties, including, but not limited to, the statements regarding expected future performance, the management transition and other statements and projections that do not relate solely to historical facts. These forward-looking statements are based on HP’s current expectations and beliefs concerning future developments and their potential effect on HP. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting HP will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control), including our ability to transition to a new interim CEO, our ability successfully identify and engage a permanent CEO, and the other factors described in the Annual Report on Form 10-K for the fiscal year ended October 31, 2025, and HP’s other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date of this document and HP assumes no obligation and does not intend to update these forward-looking statements.

HP’s Investor Relations website at investor.HP.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted. The content of HP’s website is not incorporated by reference into this press release or in any other report or document HP files with the SEC, and any references to HP’s website are intended to be inactive textual references only.

Media Relations Investor Relations
MediaRelations@hp.com InvestorRelations@hp.com

Source: HP Inc.

HP Inc. Declares Dividend

Tue, 27 Jan 2026 16:15:00 -0500

PALO ALTO, Calif., Jan. 27, 2026 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) has declared a cash dividend of $0.3000 per share on the company’s common stock.

The dividend, the second in HP’s fiscal year 2026, is payable on April 1, 2026, to stockholders of record as of the close of business on March 11, 2026. HP has approximately 0.9 billion shares of common stock outstanding.

About HP Inc.

HP Inc. Media Relations MediaRelations@hp.com	HP Inc. Investor Relations InvestorRelations@hp.com
www.hp.com/go/newsroom

Source: HP Inc.

HP Inc. Reports Fiscal 2025 Full Year and Fourth Quarter Results

Tue, 25 Nov 2025 16:15:00 -0500

PALO ALTO, Calif., Nov. 25, 2025 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

Fiscal 2025 GAAP diluted net earnings per share ("EPS") of $2.65, down 5.7% from the prior year period
Fiscal 2025 non-GAAP diluted net EPS of $3.12, down 9.0% from the prior year period
Fiscal 2025 net revenue of $55.3 billion, up 3.2% from the prior-year period
Fiscal 2025 net cash provided by operating activities of $3.7 billion, free cash flow of $2.9 billion
Fiscal 2025 returned $1.9 billion to shareholders in the form of dividend and share repurchases
Fourth quarter GAAP diluted net EPS of $0.84, down 9.7% from the prior year period
Fourth quarter non-GAAP diluted net EPS of $0.93, down 3.1% from the prior year period
Fourth quarter net revenue of $14.6 billion, up 4.2% from the prior-year period
Fourth quarter net cash provided by operating activities of $1.6 billion, free cash flow of $1.5 billion
Fourth quarter returned $0.8 billion to shareholders in the form of dividend and share repurchases
HP Inc. increases quarterly dividend to $0.30 per share
HP Inc. announces company-wide initiative, estimates gross run rate cost savings of approximately $1 billion by the end of fiscal 2028, and restructuring and other charges of approximately $650 million

*HP Inc.'s fiscal 2025 full-year and fourth quarter financial performance*
	FY25			FY24			Y/Y			Q4 FY25			Q4 FY24			Y/Y
GAAP net revenue ($B)	$	55.3		$	53.6		3.2		%	$	14.6		$	14.1		4.2		%
GAAP operating margin		5.7	%		7.1	%	(1.4) pts				6.6	%		7.1	%	(0.5) pts
GAAP net earnings ($B)	$	2.5		$	2.8		(9	)	%	$	0.8		$	0.9		(12	)	%
GAAP diluted net EPS	$	2.65		$	2.81		(6	)	%	$	0.84		$	0.93		(10	)	%
Non-GAAP operating margin		7.4	%		8.5	%	(1.1) pts				8.0	%		8.8	%	(0.8) pts
Non-GAAP net earnings ($B)	$	3.0		$	3.4		(12	)	%	$	0.9		$	0.9		(6	)	%
Non-GAAP diluted net EPS	$	3.12		$	3.43		(9	)	%	$	0.93		$	0.96		(3	)	%
Net cash provided by operating activities ($B)	$	3.7		$	3.7		(1	)	%	$	1.6		$	1.6		—		%
Free cash flow ($B)	$	2.9		$	3.3		(12	)	%	$	1.5		$	1.5		(2	)	%

Notes to table
Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Net revenue and EPS results
HP Inc. and its subsidiaries (“HP”) announced fiscal 2025 net revenue of $55.3 billion, up 3.2% (up 3.7% in constant currency) from the prior-year period.

Fiscal 2025 GAAP diluted net EPS was $2.65, down from $2.81 in the prior-year. Fiscal 2025 non-GAAP diluted net EPS was $3.12, down from $3.43 in the prior-year period. Fiscal 2025 non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $443 million, or $0.47 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, certain litigation charges (benefits), net, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Fourth quarter net revenue was $14.6 billion, up 4.2% (up 3.8% in constant currency) from the prior-year period.

Fourth quarter GAAP diluted net EPS was $0.84, down from $0.93 in the prior-year period and within the previously provided outlook of $0.75 to $0.85. Fourth quarter non-GAAP diluted net EPS was $0.93, down from $0.96 in the prior-year period and within the previously provided outlook of $0.87 to $0.97. Fourth quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $82 million, or $0.09 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, certain litigation charges (benefits), net, tax adjustments, and the related tax impact on these items.

"HP’s strategy to lead the Future of Work continues to deliver strong performance, marked by our sixth consecutive quarter of revenue growth,” said Enrique Lores, President and CEO of HP Inc. “Our FY25 results reinforce the power of our portfolio and the strength of our team in a dynamic environment. As we accelerate innovation across AI-powered devices to drive productivity, security, and flexibility for our customers, our focus for FY26 is on disciplined execution. We are committed to driving measurable results - ensuring that our plans translate into long-term value for our shareholders."

“Our FY25 results reflect solid execution in an evolving environment, where we drove strong profit improvement in the back half of the year and returned $1.9 billion dollars to shareholders,” said Karen Parkhill, CFO, HP Inc. “Looking forward, we are taking decisive actions to mitigate recent cost headwinds and are investing in AI-enabled initiatives to accelerate product innovation, improve customer satisfaction, and boost productivity. We are confident these actions will strengthen our foundation and position us for long-term growth.”

Asset management
HP generated $3.7 billion in net cash provided by operating activities and $2.9 billion of free cash flow in fiscal 2025. Free cash flow includes net cash provided by operating activities of $3.7 billion adjusted for net investments in leases from integrated financing of $131 million and net investments in property, plant, equipment and purchased intangibles of $897 million. HP utilized $850 million of cash during fiscal 2025 to repurchase approximately 29.5 million shares of common stock in the open market. When combined with the $1.1 billion of cash used to pay dividends, HP returned 66% of its free cash flow to shareholders in fiscal 2025.

HP's net cash provided by operating activities in the fourth quarter of fiscal 2025 was $1.6 billion. Accounts receivable ended the quarter at $5.7 billion, up 2 days quarter over quarter to 35 days. Inventory ended the quarter at $8.5 billion, down 2 days quarter over quarter to 66 days. Accounts payable ended the quarter at $18.1 billion, up 1 day quarter over quarter to 139 days.

HP generated $1.5 billion of free cash flow in the fourth quarter. Free cash flow includes net cash provided by operating activities of $1.6 billion adjusted for net investments in leases from integrated financing of $60 million and net investments in property, plant and equipment of $197 million.

HP’s dividend payment of $0.2894 per share in the fourth quarter resulted in cash usage of $270 million. HP also utilized $500 million of cash during the quarter to repurchase approximately 18.3 million shares of common stock in the open market. HP exited the quarter with $3.7 billion in gross cash, which includes cash and cash equivalents of $3.7 billion, restricted cash of $15 million, cash held for sale of $8 million, and short-term investments of $3 million included in other current assets. Restricted cash is related to amounts collected and held on behalf of a third party for trade receivables previously sold.

The HP board of directors has declared a quarterly cash dividend of $0.30 per share on the company’s common stock, payable on January 2, 2026 to stockholders of record as of the close of business on December 11, 2025. This is the first dividend of HP's 2026 fiscal year.

Fiscal 2025 fourth quarter segment results

Personal Systems net revenue was $10.4 billion, up 8% year over year (up 7% in constant currency) with a 5.8% operating margin. Consumer PS net revenue was up 10% and Commercial PS net revenue was up 7%. Total units were up 7% with Consumer PS units up 8% and Commercial PS units up 7%.
Printing net revenue was $4.3 billion, down 4% year over year (down 4% in constant currency) with an 18.9% operating margin. Consumer Printing net revenue was down 9% and Commercial Printing net revenue was down 4%. Supplies net revenue was down 4% (down 3% in constant currency). Total hardware units were down 12%, with both Consumer and Commercial Printing units reflecting similar declines.

Outlook
For the fiscal 2026 first quarter, HP estimates GAAP diluted net EPS to be in the range of $0.58 to $0.66 and non-GAAP diluted net EPS to be in the range of $0.73 to $0.81. Fiscal 2026 first quarter non-GAAP diluted net EPS estimates exclude $0.15 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

For fiscal 2026, HP estimates GAAP diluted net EPS to be in the range of $2.47 to $2.77 and non-GAAP diluted net EPS to be in the range of $2.90 to $3.20. Fiscal 2026 non-GAAP diluted net EPS estimates exclude $0.43 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items. For fiscal 2026, HP anticipates generating free cash flow in the range of $2.8 to $3.0 billion. HP’s outlook reflects the added cost driven by the current U.S. trade-related regulations in place, and associated mitigations.

More information on HP's earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at investor.hp.com.

HP's FY25 Q4 earnings conference call is accessible via audio webcast at www.hp.com/investor/2025Q4Webcast.

Company-wide initiative announced in November 2025
Today, HP Inc. announced a company-wide initiative (“fiscal 2026 plan”) to drive customer satisfaction, product innovation, and productivity through artificial intelligence adoption and enablement. The company estimates that these actions will result in gross run rate savings of approximately $1 billion by the end of fiscal 2028. The company estimates that it will incur approximately $650 million in labor and non-labor costs related to restructuring and other charges, with approximately $250 million in fiscal 2026. The company expects to reduce gross global headcount by approximately 4,000-6,000 employees. These actions are expected to be completed by the end of fiscal 2028.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges, planned structural cost reductions and productivity initiatives; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our business model and transformation, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings (including the fiscal 2023 plan and the fiscal 2026 plan), net revenue or profitability improvements or other financial impacts; any statements concerning the expected development, demand, performance, market share or competitive performance relating to products or services; any statements concerning potential supply constraints, component shortages, manufacturing disruptions or logistics challenges; any statements regarding current or future macroeconomic trends or events, including global trade policies, and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims, disputes or other litigation matters; any statements of expectation or belief as to the timing and expected benefits of acquisitions and other business combination and investment transactions; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can also generally be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will,” “would,” “could,” “can,” “may,” and similar terms.

Risks, uncertainties and assumptions that could affect our business and results of operations include factors relating to HP’s ability to execute on its strategic plans, including the previously announced initiatives, business model changes and transformation; the development and transition of new products and services and the enhancement of existing products and services to meet evolving customer needs and respond to emerging technological trends, including artificial intelligence; the use of artificial intelligence; the impact of macroeconomic and geopolitical trends, changes and events, including global trade policies, the ongoing military conflict in Ukraine, continued instability in the Middle East or tensions in the Taiwan Strait and South China Sea and the regional and global ramifications of these events; volatility in global capital markets and foreign currency, changes in benchmark interest rates, the effects of inflation and instability of financial institutions; risks associated with HP’s international operations and the effects of business disruption events, including those resulting from climate change; the need to manage (and reliance on) third-party suppliers, including with respect to supply constraints and component shortages, and the need to manage HP’s global, multi-tier distribution network and potential misuse of pricing programs by HP’s channel partners, adapt to new or changing marketplaces and effectively deliver HP’s services; the execution and performance of contracts by HP and its suppliers, customers, clients and partners, including logistical challenges with respect to such execution and performance; the competitive pressures faced by HP’s businesses; the impact of third-party claims of IP infringement; successfully innovating, developing and executing HP’s go-to-market strategy, including online, omnichannel and contractual sales, in an evolving distribution, reseller and customer landscape; successfully competing and maintaining the value proposition of HP’s products, including supplies and services; challenges to HP’s ability to accurately forecast inventories, demand and pricing, which may be due to HP’s multi-tiered channel, sales of HP’s products to unauthorized resellers or unauthorized resale of HP’s products or our uneven sales cycle; the hiring and retention of key employees; the results of our restructuring plans (including the fiscal 2023 plan and the fiscal 2026 plan), including estimates and assumptions related to the cost (including any possible disruption of HP’s business) and the anticipated benefits of our restructuring plans; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; disruptions in operations from system security risks, data protection breaches, or cyberattacks; HP’s ability to maintain its credit rating, satisfy its debt obligations and complete any contemplated share repurchases, other capital return programs or other strategic transactions; changes in estimates and assumptions HP makes in connection with the preparation of its financial statements; the impact of changes to federal, state, local and foreign laws and regulations, including environmental regulations and tax laws; integration and other risks associated with business combination and investment transactions; our aspirations related to environmental and societal matters; potential impacts, liabilities and costs from pending or potential investigations, claims and disputes; the effectiveness of our internal control over financial reporting; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and HP’s other filings with the Securities and Exchange Commission ("SEC"). HP’s fiscal 2023 plan included HP's efforts to take advantage of future growth opportunities, including but not limited to, investments to drive growth, investments in our people, improving product mix, driving structural cost savings and other productivity measures. HP’s fiscal 2026 plan includes HP’s efforts to drive customer satisfaction, product innovation, and productivity through artificial intelligence adoption and enablement, and cost savings associated with the fiscal 2026 plan represent gross reductions in costs from these restructuring plans. Structural cost savings represent gross reductions in costs driven by operational efficiency, digital transformation, and portfolio optimization. These initiatives include but are not limited to workforce reductions, platform simplification, programs consolidation and productivity measures undertaken by HP, which HP expects to be sustainable in the longer-term. These structural cost savings are net of any new recurring costs resulting from these initiatives and exclude one-time investments to generate such savings. HP’s expectations on the longer-term sustainability of such structural cost savings are based on its current business operations and market dynamics and could be significantly impacted by various factors, including but not limited to HP’s evolving business models, future investment decisions, market environment and technology landscape.

As in prior periods, the financial information set forth in this document, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Annual Report on Form 10-K for the fiscal year ending October 31, 2025 and October 31, 2026, Quarterly Report on Form 10-Q for the fiscal quarter ending January 31, 2026 and HP’s other filings with the SEC. The forward-looking statements in this document are made as of the date of this document and HP assumes no obligation and does not intend to update these forward-looking statements.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts)

	Three months ended
	October 31, 2025			July 31, 2025			October 31, 2024
Net revenue:
Products	$	13,770		$	13,114		$	13,241
Services		869			818			814
Total net revenue		14,639			13,932			14,055
Cost of net revenue:
Products		11,193			10,599			10,593
Services		484			482			461
Total cost of net revenue		11,677			11,081			11,054
Gross profit		2,962			2,851			3,001
Research and development		398			406			392
Selling, general and administrative		1,430			1,452			1,409
Restructuring and other charges		103			110			121
Acquisition and divestiture charges		14			8			12
Amortization of intangible assets		58			159			76
Total operating expenses		2,003			2,135			2,010
Earnings from operations		959			716			991
Interest and other, net		(125	)		(92	)		(129	)
Earnings before taxes		834			624			862
(Provision for) benefit from taxes		(39	)		139			44
Net earnings	$	795		$	763		$	906

Net earnings per share:
Basic	$	0.85		$	0.81		$	0.94
Diluted	$	0.84		$	0.80		$	0.93

Cash dividends declared per share	$	—		$	0.58		$	—

Weighted-average shares used to compute net earnings per share:
Basic		938			947			959
Diluted		948			954			971

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts)

	Twelve months ended
	October 31, 2025			October 31, 2024
Net revenue:
Products	$	52,002		$	50,453
Services		3,293			3,106
Total net revenue		55,295			53,559
Cost of net revenue:
Products		41,993			39,952
Services		1,910			1,789
Total cost of net revenue		43,903			41,741
Gross profit		11,392			11,818
Research and development		1,602			1,640
Selling, general and administrative		5,821			5,658
Restructuring and other charges		405			301
Acquisition and divestiture charges		45			83
Amortization of intangible assets		345			318
Total operating expenses		8,218			8,000
Earnings from operations		3,174			3,818
Interest and other, net		(506	)		(539	)
Earnings before taxes		2,668			3,279
Provision for taxes		(139	)		(504	)
Net earnings	$	2,529		$	2,775

Net earnings per share:
Basic	$	2.67		$	2.83
Diluted	$	2.65		$	2.81

Cash dividends declared per share	$	1.16		$	1.10

Weighted-average shares used to compute net earnings per share:
Basic		946			979
Diluted		953			989

HP INC. AND SUBSIDIARIES ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	October 31, 2025						July 31, 2025						October 31, 2024
	Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share
GAAP net earnings	$	795		$	0.84		$	763		$	0.80		$	906		$	0.93
Non-GAAP adjustments:
Restructuring and other charges		103			0.11			110			0.12			121			0.13
Acquisition and divestiture charges		14			0.01			8			—			12			0.01
Amortization of intangible assets		58			0.06			159			0.17			76			0.08
Certain litigation charges (benefits), net^(a)(b)		35			0.04			(50	)		(0.05	)		40			0.04
Debt extinguishment costs		—			—			—			—			3			—
Non-operating retirement-related credits		—			—			(2	)		—			(2	)		—
Tax adjustments^(c)		(128	)		(0.13	)		(275	)		(0.29	)		(222	)		(0.23	)
Non-GAAP net earnings	$	877		$	0.93		$	713		$	0.75		$	934		$	0.96

GAAP earnings from operations	$	959					$	716					$	991
Non-GAAP adjustments:
Restructuring and other charges		103						110						121
Acquisition and divestiture charges		14						8						12
Amortization of intangible assets		58						159						76
Certain litigation charges^(a)		35						2						40
Non-GAAP earnings from operations	$	1,169					$	995					$	1,240

GAAP operating margin		6.6	%					5.1	%					7.1	%
Non-GAAP adjustments		1.4	%					2.0	%					1.7	%
Non-GAAP operating margin		8.0	%					7.1	%					8.8	%

(a)	HP incurs settlement expenses from backward-looking claims that arise from certain existing or threatened Standard Essential Patent (“SEP”) litigation that are distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business. HP excludes these SEP litigation expenses for purposes of calculating these non-GAAP measures.
(b)	Third quarter of fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations and is presented in Interest and other, net.
(c)	Includes tax impact on non-GAAP adjustments.

HP INC. AND SUBSIDIARIES ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Twelve months ended
	October 31, 2025						October 31, 2024
	Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share
GAAP net earnings	$	2,529		$	2.65		$	2,775		$	2.81
Non-GAAP adjustments:
Restructuring and other charges		405			0.42			301			0.31
Acquisition and divestiture charges		45			0.05			83			0.08
Amortization of intangible assets		345			0.36			318			0.32
Certain litigation charges (benefits), net^(a)(b)		88			0.09			58			0.06
Debt extinguishment costs		—			—			3			—
Non-operating retirement-related credits		(13	)		(0.01	)		(9	)		(0.01	)
Tax adjustments^(c)		(427	)		(0.44	)		(141	)		(0.14	)
Non-GAAP net earnings	$	2,972		$	3.12		$	3,388		$	3.43

GAAP earnings from operations	$	3,174					$	3,818
Non-GAAP adjustments:
Restructuring and other charges		405						301
Acquisition and divestiture charges		45						83
Amortization of intangible assets		345						318
Certain litigation charges^(a)		140						58
Non-GAAP earnings from operations	$	4,109					$	4,578

GAAP operating margin		5.7	%					7.1	%
Non-GAAP adjustments		1.7	%					1.4	%
Non-GAAP operating margin		7.4	%					8.5	%

(a)	HP incurs settlement expenses from backward-looking claims that arise from certain existing or threatened SEP litigation that are distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business. HP excludes these SEP litigation expenses for purposes of calculating these non-GAAP measures.
(b)	Twelve months ended fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations and is presented in Interest and other, net.
(c)	Includes tax impact on non-GAAP adjustments.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions)

	As of
	October 31, 2025			October 31, 2024
ASSETS
Current assets:
Cash, cash equivalents and restricted cash	$	3,705		$	3,253
Accounts receivable, net		5,692			5,117
Inventory		8,512			7,720
Other current assets		4,544			4,670
Total current assets		22,453			20,760
Property, plant and equipment, net		3,049			2,914
Goodwill		8,706			8,627
Other non-current assets		7,561			7,608
Total assets	$	41,769		$	39,909

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Notes payable and short-term borrowings	$	845		$	1,406
Accounts payable		18,051			16,903
Other current liabilities		10,362			10,378
Total current liabilities		29,258			28,687
Long-term debt		8,821			8,263
Other non-current liabilities		4,036			4,282
Stockholders' deficit		(346	)		(1,323	)
Total liabilities and stockholders' deficit	$	41,769		$	39,909

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Three months ended
	October 31, 2025			October 31, 2024
Cash flows from operating activities:
Net earnings	$	795		$	906
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and impairment		208			208
Stock-based compensation expense		90			85
Restructuring and other charges		103			121
Deferred taxes on earnings		61			(191	)
Other, net		13			(14	)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(578	)		(482	)
Inventory		(157	)		101
Accounts payable		1,048			1,398
Net investment in leases from integrated financing		(60	)		(42	)
Taxes on earnings		(31	)		65
Restructuring and other		(88	)		(60	)
Other assets and liabilities		220			(472	)
Net cash provided by operating activities		1,624			1,623
Cash flows from investing activities:
Investment in property, plant and equipment, net		(197	)		(153	)
Purchases of available-for-sale securities and other investments		(17	)		(4	)
Maturities and sales of available-for-sale securities and other investments		5			8
Collateral returned for derivative instruments		79			60
Payment made in connection with business acquisitions, net of cash acquired		—			(43	)
Proceeds from business divestitures		66			—
Net cash used in investing activities		(64	)		(132	)
Cash flows from financing activities:
Proceeds from debt, net of issuance costs		137			114
Payment of debt		(75	)		(60	)
Stock-based award activities and others		(13	)		(7	)
Repurchase of common stock		(500	)		(900	)
Cash dividends paid		(270	)		(263	)
Net cash used in financing activities		(721	)		(1,116	)
Increase in cash, cash equivalents and restricted cash		839			375
Cash, cash equivalents and restricted cash at beginning of period		2,874			2,878
Cash, cash equivalents and restricted cash at end of period^(a)	$	3,713		$	3,253

(a)	Includes cash held for sale of $8 million recorded within Other current assets.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Twelve months ended
	October 31, 2025			October 31, 2024
Cash flows from operating activities:
Net earnings	$	2,529		$	2,775
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and impairment		916			830
Stock-based compensation expense		522			452
Restructuring and other charges		405			301
Deferred taxes on earnings		(6	)		(122	)
Other, net		116			(38	)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(524	)		(929	)
Inventory		(828	)		(852	)
Accounts payable		1,142			2,840
Net investment in leases from integrated financing		(131	)		(165	)
Taxes on earnings		(391	)		(24	)
Restructuring and other		(326	)		(264	)
Other assets and liabilities		273			(1,055	)
Net cash provided by operating activities		3,697			3,749
Cash flows from investing activities:
Investment in property, plant, equipment and purchased intangibles, net		(897	)		(592	)
Purchases of available-for-sale securities and other investments		(40	)		(4	)
Maturities and sales of available-for-sale securities and other investments		74			8
Collateral posted for derivative instruments		(264	)		—
Payment made in connection with business acquisitions, net of cash acquired		(116	)		(58	)
Proceeds from business divestitures		66			—
Net cash used in investing activities		(1,177	)		(646	)
Cash flows from financing activities:
Proceeds from debt, net of issuance costs		1,385			380
Payment of debt		(1,387	)		(213	)
Stock-based award activities and others		(126	)		(74	)
Repurchase of common stock		(850	)		(2,100	)
Cash dividends paid		(1,088	)		(1,075	)
Settlement of cash flow hedges		6			—
Net cash used in financing activities		(2,060	)		(3,082	)
Increase in cash, cash equivalents and restricted cash		460			21
Cash, cash equivalents and restricted cash at beginning of period		3,253			3,232
Cash, cash equivalents and restricted cash at end of period^(a)	$	3,713		$	3,253

(a)	Includes cash held for sale of $8 million recorded within Other current assets.

HP INC. AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions)

	Three months ended									Change (%)
	October 31, 2025			July 31, 2025			October 31, 2024			Q/Q			Y/Y
Net revenue:
Commercial PS	$	6,971		$	7,036		$	6,522		(1	)	%	7		%
Consumer PS		3,382			2,895			3,069		17		%	10		%
Personal Systems		10,353			9,931			9,591		4		%	8		%
Supplies		2,761			2,604			2,865		6		%	(4	)	%
Commercial Printing		1,209			1,113			1,262		9		%	(4	)	%
Consumer Printing		296			269			325		10		%	(9	)	%
Printing		4,266			3,986			4,452		7		%	(4	)	%
Corporate Investments^(a)		19			16			11		NM			NM
Total segment net revenue		14,638			13,933			14,054		5		%	4		%
Other^(a)		1			(1	)		1		NM			NM
Total net revenue	$	14,639		$	13,932		$	14,055		5		%	4		%

Earnings before taxes:
Personal Systems^(b)	$	597		$	541		$	591
Printing		805			689			874
Corporate Investments		(34	)		(32	)		(37	)
Total segment earnings from operations		1,368			1,198			1,428
Corporate and unallocated cost and other		(109	)		(103	)		(103	)
Stock-based compensation expense		(90	)		(100	)		(85	)
Restructuring and other charges		(103	)		(110	)		(121	)
Acquisition and divestiture charges		(14	)		(8	)		(12	)
Amortization of intangible assets		(58	)		(159	)		(76	)
Certain litigation charges^(b)		(35	)		(2	)		(40	)
Interest and other, net^(c)		(125	)		(92	)		(129	)
Total earnings before taxes	$	834		$	624		$	862

(a)	"NM" represents not meaningful.
(b)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(c)	Third quarter of fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations.

HP INC. AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions)

	Twelve months ended						Change (%)
	October 31, 2025			October 31, 2024			Y/Y
Net revenue:
Commercial PS	$	27,438		$	25,486		8		%
Consumer PS		11,094			10,709		4		%
Personal Systems		38,532			36,195		6		%
Supplies		10,916			11,295		(3	)	%
Commercial Printing		4,633			4,841		(4	)	%
Consumer Printing		1,153			1,202		(4	)	%
Printing		16,702			17,338		(4	)	%
Corporate Investments^(a)		62			25		NM
Total segment net revenue		55,296			53,558		3		%
Other^(a)		(1	)		1		NM
Total net revenue	$	55,295		$	53,559		3		%

Earnings before taxes:
Personal Systems^(b)	$	2,054		$	2,253
Printing		3,118			3,290
Corporate Investments		(130	)		(132	)
Total segment earnings from operations		5,042			5,411
Corporate and unallocated cost and other		(411	)		(381	)
Stock-based compensation expense		(522	)		(452	)
Restructuring and other charges		(405	)		(301	)
Acquisition and divestiture charges		(45	)		(83	)
Amortization of intangible assets		(345	)		(318	)
Certain litigation charges^(b)		(140	)		(58	)
Interest and other, net^(c)		(506	)		(539	)
Total earnings before taxes	$	2,668		$	3,279

(a)	"NM" represents not meaningful.
(b)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(c)	Twelve months ended Oct 31, 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations.

HP INC. AND SUBSIDIARIES SEGMENT OPERATING MARGIN SUMMARY (Unaudited)

	Three months ended						Change (pts)
	October 31, 2025		July 31, 2025		October 31, 2024		Q/Q	Y/Y
Segment operating margin:
Personal Systems^(a)	5.8	%	5.4	%	6.2	%	0.4 pts	(0.4)pts
Printing	18.9	%	17.3	%	19.6	%	1.6 pts	(0.7)pts
Corporate Investments^(b)	NM		NM		NM		NM	NM
Total segment	9.3	%	8.6	%	10.2	%	0.7 pts	(0.9)pts

	Twelve months ended				Change (pts)
	October 31, 2025		October 31, 2024		Y/Y
Segment operating margin:
Personal Systems^(a)	5.3	%	6.2	%	(0.9)pts
Printing	18.7	%	19.0	%	(0.3)pts
Corporate Investments^(b)	NM		NM		NM
Total segment	9.1	%	10.1	%	(1.0)pts

(a)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(b)	"NM" represents not meaningful.

HP INC. AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	October 31, 2025		July 31, 2025		October 31, 2024
Numerator:
GAAP net earnings	$	795	$	763	$	906
Non-GAAP net earnings	$	877	$	713	$	934

Denominator:
Weighted-average shares used to compute basic net earnings per share		938		947		959
Dilutive effect of employee stock plans^(a)		10		7		12
Weighted-average shares used to compute diluted net earnings per share		948		954		971

GAAP diluted net earnings per share	$	0.84	$	0.80	$	0.93
Non-GAAP diluted net earnings per share	$	0.93	$	0.75	$	0.96

(a)	Includes any dilutive effect of restricted stock units, stock options and performance-based awards.

HP INC. AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Twelve months ended
	October 31, 2025		October 31, 2024
Numerator:
GAAP net earnings	$	2,529	$	2,775
Non-GAAP net earnings	$	2,972	$	3,388

Denominator:
Weighted-average shares used to compute basic net earnings per share		946		979
Dilutive effect of employee stock plans^(a)		7		10
Weighted-average shares used to compute diluted net earnings per share		953		989

GAAP diluted net earnings per share	$	2.65	$	2.81
Non-GAAP diluted net earnings per share	$	3.12	$	3.43

(a)	Includes any dilutive effect of restricted stock units, stock options and performance-based awards.

Use of non-GAAP financial measures

Use and economic substance of non-GAAP financial measures

Net revenue on a constant currency basis excludes the effect of foreign currency exchange fluctuations calculated by translating current period revenues using monthly exchange rates from the comparative period and excluding any hedging impact recognized in the current period. Non-GAAP operating margin is defined to exclude the effects of any amounts relating to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets and certain litigation (benefits) charges, net. Non-GAAP net earnings and non-GAAP diluted net EPS consist of net earnings or diluted net EPS excluding those same charges, non-operating retirement related (credits)/charges, debt extinguishment costs (benefit), tax adjustments and the amount of additional taxes or tax benefits associated with each non-GAAP item.

Restructuring and other charges are (i) costs associated with a formal restructuring plan and are primarily related to employee separation from service and early retirement costs and related benefits, costs of real estate consolidation and other non-labor charges; and (ii) other charges, which includes non-recurring costs including those as a result of information technology rationalization efforts and transformation program management and are distinct from ongoing operational costs. HP excludes these restructuring and other charges (and any reversals of charges recorded in prior periods) for purposes of calculating these non-GAAP measures because HP believes that these costs do not reflect expected future operating expenses and excluding such expenses for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP's current operating performance and comparing operating performance to other periods.
HP incurs cost related to its acquisitions and divestitures, which it would not have otherwise incurred as part of its operations. The charges are direct expenses such as third-party professional and legal fees, integration and divestiture-related costs, as well as non-cash adjustments to the fair value of certain acquired assets such as inventory and certain compensation charges related to cash settlement of restricted stock units and performance-based restricted stock units towards acquisitions. These charges related to acquisitions and divestitures are inconsistent in amount and frequency and are significantly impacted by the timing and nature of HP's acquisitions or divestitures. HP believes that eliminating such expenses for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP incurs charges relating to the amortization of intangible assets. Those charges are included in HP’s GAAP earnings, operating margin, net earnings and diluted net EPS. Such charges are significantly impacted by the timing and magnitude of HP’s acquisitions and any related impairment charges. Consequently, HP excludes these charges for purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP recorded certain litigation (benefits) charges, net that include (1) settlement expenses, and any reversal of accrual taken for such settlements, from backward-looking claims that arise from certain existing or threatened Standard Essential Patent ("SEP") litigation that is distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business and (2) a gain from a single litigation matter that does not relate to HP's ongoing business operations. HP excludes these impacts for the purpose of calculating these non-GAAP measures.
HP incurs debt extinguishment (benefit) costs, which includes certain (gain)/loss related to the repurchase of certain of its outstanding U.S. dollar global notes or termination of commitments under revolving credit facilities. This (gain)/loss resulting from debt redemption transactions are partially or more than offset by costs such as bond repurchase premiums, bank fees, unpaid accrued interests, etc. HP excludes these (benefit)/costs for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
Non-operating retirement-related (credits) charges include certain market-related factors such as interest cost, expected return on plan assets, amortized actuarial gains or losses, associated with HP’s defined benefit pension and post-retirement benefit plans. The market-driven retirement-related adjustments are primarily due to the changes in the value of pension plan assets and liabilities which are tied to financial market performance and HP considers these adjustments to be outside the operational performance of the business. Non-operating retirement-related (credits) charges also include certain plan curtailments, settlements and special termination benefits related to HP’s defined benefit pension and post-retirement benefit plans. HP believes that eliminating such adjustments for purposes of calculating non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.
HP recorded tax adjustments including tax expenses and benefits from internal reorganizations, realizability of certain deferred tax assets, various tax rate and regulatory changes, and tax settlements across various jurisdictions. HP excludes these adjustments for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

Free cash flow is a non-GAAP measure that is defined as cash flow provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangibles. Gross cash is a non-GAAP measure that is defined as cash, cash equivalents and restricted cash plus short-term investments and certain long-term investments that may be liquidated within 90 days pursuant to the terms of existing put options or similar rights. HP’s management uses free cash flow and gross cash for the purpose of determining the amount of cash available for investment in HP’s businesses, repurchasing stock and other purposes. HP’s management also uses free cash flow and gross cash to evaluate HP’s historical and prospective liquidity. Because gross cash includes liquid assets that are not included in cash, cash equivalents and restricted cash, HP believes that gross cash provides a helpful assessment of HP’s liquidity. Because free cash flow includes net cash provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangibles. HP believes that free cash flow provides a useful assessment of HP’s liquidity and capital resources. Net cash (debt) is defined as gross cash less gross debt after adjusting the effect of unamortized premium/discount on debt issuance, debt issuance costs and gains/losses on interest rate swaps.

Key Growth Areas

Hybrid Systems: Video conferencing solutions, cameras, headsets, voice, and related software capabilities

Workforce Solutions: Managed services (Managed Print Service and Device-as-a-Service), digital services and lifecycle services

Consumer Subscriptions: Instant Ink services, other consumer subscriptions and consumer digital services

Industrial Graphics: Large Format Industrial, Page Wide Press (PWP), Indigo and Page Wide Industrial packaging solutions and supplies

3D & Personalization: Portfolio of additive manufacturing solutions and supplies including end-to-end solutions such as molded fiber, footwear and orthotics

Material limitations associated with use of non-GAAP financial measures

Items such as amortization of intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this change in value is not included in non-GAAP operating margin, non-GAAP net earnings and non-GAAP diluted net EPS, and therefore does not reflect the full economic effect of the change in value of those intangible assets.
Items such as restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, certain litigation (benefits) charges, net are excluded from non-GAAP operating margin. In addition, non-operating retirement-related (credits) charges, debt extinguishment costs (benefit), certain litigation (benefits) charges, net and tax adjustments are excluded from non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings and non-GAAP diluted net EPS. These items can have a material impact on the equivalent GAAP earnings measure and cash flows.
HP may not be able to immediately liquidate the short-term and certain long-term investments included in gross cash, which may limit the usefulness of gross cash as a liquidity measure.

Other companies may calculate the non-GAAP financial measures differently than HP, limiting the usefulness of those measures for comparative purposes.

Compensation for limitations associated with use of non-GAAP financial measures

Usefulness of non-GAAP financial measures to investors

HP Inc. Media Relations
MediaRelations@hp.com

HP Inc. Investor Relations
InvestorRelations@hp.com

Source: HP Inc.

HP Inc. to Announce Fourth Quarter Fiscal 2025 Earnings on Nov 25, 2025

Tue, 04 Nov 2025 16:15:00 -0500

PALO ALTO, Calif., Nov. 04, 2025 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) will present a live audio webcast of a conference call to review financial results for the fourth fiscal quarter and fiscal year ended October 31, 2025 on Tuesday, Nov 25, 2025 at 5:00 p.m. ET / 2:00 p.m. PT.

The webcast will be available at www.hp.com/investor/2025Q4Webcast.

A replay of the audio webcast will be available at the same website shortly after the call and will remain available for approximately one year.

About HP Inc.

HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.

HP Inc. Media Relations MediaRelations@hp.com	HP Inc. Investor Relations InvestorRelations@hp.com
www.hp.com/go/newsroom

©Copyright 2025 HP Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

Source: HP Inc.

HP Inc. Reports Fiscal 2025 Third Quarter Results

Wed, 27 Aug 2025 16:05:00 -0400

PALO ALTO, Calif., Aug. 27, 2025 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

Third quarter GAAP diluted net earnings per share ("EPS") of $0.80, up 23.1% from the prior year period

Third quarter non-GAAP diluted net EPS of $0.75, down 10.7% from the prior year period

Third quarter net revenue of $13.9 billion, up 3.1% from the prior-year period

Third quarter net cash provided by operating activities of $1.7 billion, free cash flow of $1.5 billion

Third quarter returned $0.4 billion to shareholders in the form of dividend and share repurchases

HP Inc.'s fiscal 2025 third quarter financial performance
	Q3 FY25			Q3 FY24			Y/Y
GAAP net revenue ($B)	$	13.9		$	13.5		3.1 %
GAAP operating margin		5.1	%		7.0	%	(1.9) pts
GAAP net earnings ($B)	$	0.8		$	0.6		19 %
GAAP diluted net EPS	$	0.80		$	0.65		23 %
Non-GAAP operating margin		7.1	%		8.2	%	(1.1) pts
Non-GAAP net earnings ($B)	$	0.7		$	0.8		(15)%
Non-GAAP diluted net EPS	$	0.75		$	0.84		(11)%
Net cash provided by operating activities ($B)	$	1.7		$	1.4		17 %
Free cash flow ($B)	$	1.5		$	1.3		13 %

Notes to table
Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Net revenue and EPS results
HP Inc. and its subsidiaries (“HP”) announced fiscal 2025 third quarter net revenue of $13.9 billion, up 3.1% (up 3.3% in constant currency) from the prior-year period.

“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,” said Enrique Lores, President and CEO of HP Inc. “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.”

“Looking forward, we remain confident in the strength of the PC market opportunity, and expect continued momentum from Windows 11 refresh and AI PC adoption,” said Karen Parkhill, CFO, HP Inc. “We believe that the actions we are taking are the right ones to enable us to respond swiftly to near term market dynamics, while continuing to invest for long-term profitable growth.”

Third quarter GAAP diluted net EPS was $0.80, up from $0.65 in the prior-year period and above the previously provided outlook of $0.57 to $0.69. Third quarter non-GAAP diluted net EPS was $0.75, down from $0.84 in the prior-year period and within the previously provided outlook of $0.68 to $0.80. Third quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $(50) million, or $(0.05) per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, certain litigation (benefits) charges, net, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Asset management
HP's net cash provided by operating activities in the third quarter of fiscal 2025 was $1.7 billion. Accounts receivable ended the quarter at $5.1 billion, up 3 days quarter over quarter to 33 days. Inventory ended the quarter at $8.4 billion, down 2 days quarter over quarter to 68 days. Accounts payable ended the quarter at $17.0 billion, up 8 days quarter over quarter to 138 days.

HP generated $1.5 billion of free cash flow in the third quarter. Free cash flow includes net cash provided by operating activities of $1.7 billion adjusted for net investments in leases from integrated financing of $23 million and net investments in property, plant, equipment and purchased intangible of $215 million.

HP’s dividend payment of $0.2894 per share in the third quarter resulted in cash usage of $272 million. HP also utilized $150 million of cash during the quarter to repurchase approximately 5.5 million shares of common stock in the open market. HP exited the quarter with $2.9 billion in gross cash, which includes cash and cash equivalents of $2.9 billion, restricted cash of $3 million and short-term investments of $3 million included in other current assets. Restricted cash is related to amounts collected and held on behalf of a third party for trade receivables previously sold.

Fiscal 2025 third quarter segment results

Personal Systems net revenue was $9.9 billion, up 6% year over year (up 6% in constant currency) with a 5.4% operating margin. Consumer PS net revenue was up 8% and Commercial PS net revenue was up 5%. Total units were up 5% with Consumer PS units up 8% and Commercial PS units up 3%.
Printing net revenue was $4.0 billion, down 4% year over year (down 3% in constant currency) with a 17.3% operating margin. Consumer Printing net revenue was down 8% and Commercial Printing net revenue was down 3%. Supplies net revenue was down 4% (down 3% in constant currency). Total hardware units were down 9%, with Consumer Printing units down 8% and Commercial Printing units down 12%.

Outlook
For the fiscal 2025 fourth quarter, HP estimates GAAP diluted net EPS to be in the range of $0.75 to $0.85 and non-GAAP diluted net EPS to be in the range of $0.87 to $0.97. Fiscal 2025 fourth quarter non-GAAP diluted net EPS estimates exclude $0.12 per diluted share, primarily related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

For fiscal 2025, HP anticipates generating free cash flow in the range of $2.6 to $3.0 billion. HP’s outlook reflects the added cost driven by the current U.S. trade-related regulations in place, and associated mitigations.

More information on HP's earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at investor.hp.com.

HP's FY25 Q3 earnings conference call is accessible via audio webcast at www.hp.com/investor/2025Q3Webcast.

All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, projections of net revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred taxes, share repurchases, foreign currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring and other charges, planned structural cost reductions and productivity initiatives; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our business model and transformation, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings (including the fiscal 2023 plan), net revenue or profitability improvements or other financial impacts; any statements concerning the expected development, demand, performance, market share or competitive performance relating to products or services; any statements concerning potential supply constraints, component shortages, manufacturing disruptions or logistics challenges; any statements regarding current or future macroeconomic trends or events, including global trade policies, and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims, disputes or other litigation matters; any statements of expectation or belief as to the timing and expected benefits of acquisitions and other business combination and investment transactions; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can also generally be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will,” “would,” “could,” “can,” “may,” and similar terms.

Risks, uncertainties and assumptions that could affect our business and results of operations include factors relating to HP’s ability to execute on its strategic plans, including the previously announced initiatives, business model changes and transformation; the development and transition of new products and services and the enhancement of existing products and services to meet evolving customer needs and respond to emerging technological trends, including artificial intelligence; the use of artificial intelligence; the impact of macroeconomic and geopolitical trends, changes and events, including global trade policies, the ongoing military conflict in Ukraine, continued instability in the Middle East or tensions in the Taiwan Strait and South China Sea and the regional and global ramifications of these events; volatility in global capital markets and foreign currency, increases in benchmark interest rates, the effects of inflation and instability of financial institutions; risks associated with HP’s international operations and the effects of business disruption events, including those resulting from climate change; the need to manage (and reliance on) third-party suppliers, including with respect to supply constraints and component shortages, and the need to manage HP’s global, multi-tier distribution network and potential misuse of pricing programs by HP’s channel partners, adapt to new or changing marketplaces and effectively deliver HP’s services; the execution and performance of contracts by HP and its suppliers, customers, clients and partners, including logistical challenges with respect to such execution and performance; the competitive pressures faced by HP’s businesses; the impact of third-party claims of IP infringement; successfully innovating, developing and executing HP’s go-to-market strategy, including online, omnichannel and contractual sales, in an evolving distribution, reseller and customer landscape; successfully competing and maintaining the value proposition of HP’s products, including supplies and services; challenges to HP’s ability to accurately forecast inventories, demand and pricing, which may be due to HP’s multi-tiered channel, sales of HP’s products to unauthorized resellers or unauthorized resale of HP’s products or our uneven sales cycle; the hiring and retention of key employees; the results of our restructuring plans (including the fiscal 2023 plan), including estimates and assumptions related to the cost (including any possible disruption of HP’s business) and the anticipated benefits of our restructuring plans; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; disruptions in operations from system security risks, data protection breaches, or cyberattacks; HP’s ability to maintain its credit rating, satisfy its debt obligations and complete any contemplated share repurchases, other capital return programs or other strategic transactions; changes in estimates and assumptions HP makes in connection with the preparation of its financial statements; the impact of changes to federal, state, local and foreign laws and regulations, including environmental regulations and tax laws; integration and other risks associated with business combination and investment transactions; our aspirations related to environmental, social and governance matters; potential impacts, liabilities and costs from pending or potential investigations, claims and disputes; the effectiveness of our internal control over financial reporting; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2024 and HP’s other filings with the Securities and Exchange Commission ("SEC"). HP’s fiscal 2023 plan includes HP's efforts to take advantage of future growth opportunities, including but not limited to, investments to drive growth, investments in our people, improving product mix, driving structural cost savings and other productivity measures. Structural cost savings represent gross reductions in costs driven by operational efficiency, digital transformation, and portfolio optimization. These initiatives include but are not limited to workforce reductions, platform simplification, programs consolidation and productivity measures undertaken by HP, which HP expects to be sustainable in the longer-term. These structural cost savings are net of any new recurring costs resulting from these initiatives and exclude one-time investments to generate such savings. HP’s expectations on the longer-term sustainability of such structural cost savings are based on its current business operations and market dynamics and could be significantly impacted by various factors, including but not limited to HP’s evolving business models, future investment decisions, market environment and technology landscape.

As in prior periods, the financial information set forth in this document, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Annual Report on Form 10-K for the fiscal year ending October 31, 2025 and HP’s other filings with the SEC. The forward-looking statements in this document are made as of the date of this document and HP assumes no obligation and does not intend to update these forward-looking statements.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts)

	Three months ended
	July 31, 2025			April 30, 2025			July 31, 2024
Net revenue:
Products	$	13,114		$	12,423		$	12,750
Services		818			797			769
Total net revenue		13,932			13,220			13,519
Cost of net revenue:
Products		10,599			10,007			10,164
Services		482			474			449
Total cost of net revenue		11,081			10,481			10,613
Gross profit		2,851			2,739			2,906
Research and development		406			401			413
Selling, general and administrative		1,452			1,480			1,404
Restructuring and other charges		110			122			46
Acquisition and divestiture charges		8			17			22
Amortization of intangible assets		159			65			81
Total operating expenses		2,135			2,085			1,966
Earnings from operations		716			654			940
Interest and other, net		(92	)		(148	)		(113	)
Earnings before taxes		624			506			827
Benefit from (provision for) taxes		139			(100	)		(187	)
Net earnings	$	763		$	406		$	640

Net earnings per share:
Basic	$	0.81		$	0.43		$	0.65
Diluted	$	0.80		$	0.42		$	0.65

Cash dividends declared per share	$	0.58		$	—		$	0.55

Weighted-average shares used to compute net earnings per share:
Basic		947			950			979
Diluted		954			956			990

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts)

	Nine months ended
	July 31, 2025			July 31, 2024
Net revenue:
Products	$	38,232		$	37,212
Services		2,424			2,292
Total net revenue		40,656			39,504
Cost of net revenue:
Products		30,800			29,359
Services		1,426			1,328
Total cost of net revenue		32,226			30,687
Gross profit		8,430			8,817
Research and development		1,204			1,248
Selling, general and administrative		4,391			4,249
Restructuring and other charges		302			180
Acquisition and divestiture charges		31			71
Amortization of intangible assets		287			242
Total operating expenses		6,215			5,990
Earnings from operations		2,215			2,827
Interest and other, net		(381	)		(410	)
Earnings before taxes		1,834			2,417
Provision for taxes		(100	)		(548	)
Net earnings	$	1,734		$	1,869

Net earnings per share:
Basic	$	1.83		$	1.90
Diluted	$	1.82		$	1.88

Cash dividends declared per share	$	1.16		$	1.10

Weighted-average shares used to compute net earnings per share:
Basic		948			986
Diluted		955			994

HP INC. AND SUBSIDIARIES ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	July 31, 2025						April 30, 2025						July 31, 2024
	Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share
GAAP net earnings	$	763		$	0.80		$	406		$	0.42		$	640		$	0.65
Non-GAAP adjustments:
Restructuring and other charges		110			0.12			122			0.13			46			0.05
Acquisition and divestiture charges		8			—			17			0.01			22			0.02
Amortization of intangible assets		159			0.17			65			0.07			81			0.08
Certain litigation (benefits) charges, net^(a)(b)		(50	)		(0.05	)		103			0.11			18			0.02
Non-operating retirement-related credits		(2	)		—			(6	)		(0.01	)		(2	)		—
Tax adjustments^(c)		(275	)		(0.29	)		(29	)		(0.02	)		29			0.02
Non-GAAP net earnings	$	713		$	0.75		$	678		$	0.71		$	834		$	0.84

GAAP earnings from operations	$	716					$	654					$	940
Non-GAAP adjustments:
Restructuring and other charges		110						122						46
Acquisition and divestiture charges		8						17						22
Amortization of intangible assets		159						65						81
Certain litigation charges^(a)		2						103						18
Non-GAAP earnings from operations	$	995					$	961					$	1,107

GAAP operating margin		5.1	%					4.9	%					7.0	%
Non-GAAP adjustments		2.0	%					2.4	%					1.2	%
Non-GAAP operating margin		7.1	%					7.3	%					8.2	%

(a)	HP incurs settlement expenses from backward-looking claims that arise from certain existing or threatened Standard Essential Patent (“SEP”) litigation that are distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business. HP excludes these SEP litigation expenses for purposes of calculating these non-GAAP measures.
(b)	Third quarter of fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations and is presented in Interest and Other, net.
(c)	Includes tax impact on non-GAAP adjustments.

HP INC. AND SUBSIDIARIES ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Nine months ended
	July 31, 2025						July 31, 2024
	Amounts			Diluted net earnings per share			Amounts			Diluted net earnings per share
GAAP net earnings	$	1,734		$	1.82		$	1,869		$	1.88
Non-GAAP adjustments:
Restructuring and other charges		302			0.32			180			0.19
Acquisition and divestiture charges		31			0.02			71			0.07
Amortization of intangible assets		287			0.30			242			0.24
Certain litigation charges, net^(a)(b)		53			0.06			18			0.02
Non-operating retirement-related credits		(13	)		(0.01	)		(7	)		(0.01	)
Tax adjustments^(c)		(299	)		(0.32	)		81			0.08
Non-GAAP net earnings	$	2,095		$	2.19		$	2,454		$	2.47

GAAP earnings from operations	$	2,215					$	2,827
Non-GAAP adjustments:
Restructuring and other charges		302						180
Acquisition and divestiture charges		31						71
Amortization of intangible assets		287						242
Certain litigation charges^(a)		105						18
Non-GAAP earnings from operations	$	2,940					$	3,338

GAAP operating margin		5.4	%					7.2	%
Non-GAAP adjustments		1.8	%					1.2	%
Non-GAAP operating margin		7.2	%					8.4	%

(a)	HP incurs settlement expenses from backward-looking claims that arise from certain existing or threatened SEP litigation that are distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business. HP excludes these SEP litigation expenses for purposes of calculating these non-GAAP measures.
(b)	Nine months ended fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations and is presented in Interest and Other, net.
(c)	Includes tax impact on non-GAAP adjustments.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions)

	As of
	July 31, 2025			October 31, 2024
ASSETS
Current assets:
Cash, cash equivalents and restricted cash	$	2,874		$	3,253
Accounts receivable, net		5,123			5,117
Inventory		8,356			7,720
Other current assets		4,221			4,670
Total current assets		20,574			20,760
Property, plant and equipment, net		2,993			2,914
Goodwill		8,714			8,627
Other non-current assets		7,573			7,608
Total assets	$	39,854		$	39,909

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Notes payable and short-term borrowings	$	820		$	1,406
Accounts payable		16,985			16,903
Other current liabilities		10,059			10,378
Total current liabilities		27,864			28,687
Long-term debt		8,782			8,263
Other non-current liabilities		4,109			4,282
Stockholders' deficit		(901	)		(1,323	)
Total liabilities and stockholders' deficit	$	39,854		$	39,909

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Three months ended
	July 31, 2025			July 31, 2024
Cash flows from operating activities:
Net earnings	$	763		$	640
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and impairment		306			208
Stock-based compensation expense		100			96
Restructuring and other charges		110			46
Deferred taxes on earnings		16			69
Other, net		31			(11	)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(797	)		(341	)
Inventory		(199	)		(275	)
Accounts payable		1,793			1,082
Net investment in leases from integrated financing		(23	)		(42	)
Taxes on earnings		(239	)		39
Restructuring and other		(89	)		(60	)
Other assets and liabilities		(111	)		(27	)
Net cash provided by operating activities		1,661			1,424
Cash flows from investing activities:
Investment in property, plant, equipment and purchased intangible		(215	)		(162	)
Purchases of available-for-sale securities and other investments		(17	)		—
Maturities and sales of available-for-sale securities and other investments		55			—
Collateral returned (posted) for derivative instruments		197			(60	)
Payment made in connection with business acquisitions, net of cash acquired		—			(15	)
Net cash used in investing activities		20			(237	)
Cash flows from financing activities:
Proceeds from debt, net of issuance costs		90			80
Payment of debt		(1,210	)		(51	)
Stock-based award activities and others		5			13
Repurchase of common stock		(150	)		(600	)
Cash dividends paid		(272	)		(268	)
Net cash used in financing activities		(1,537	)		(826	)
Increase in cash, cash equivalents and restricted cash		144			361
Cash, cash equivalents and restricted cash at beginning of period		2,730			2,517
Cash, cash equivalents and restricted cash at end of period	$	2,874		$	2,878

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Nine months ended
	July 31, 2025			July 31, 2024
Cash flows from operating activities:
Net earnings	$	1,734		$	1,869
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and impairment		708			622
Stock-based compensation expense		432			367
Restructuring and other charges		302			180
Deferred taxes on earnings		(67	)		69
Other, net		103			(24	)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		54			(447	)
Inventory		(671	)		(953	)
Accounts payable		94			1,442
Net investment in leases from integrated financing		(71	)		(123	)
Taxes on earnings		(360	)		(89	)
Restructuring and other		(238	)		(204	)
Other assets and liabilities		53			(583	)
Net cash provided by operating activities		2,073			2,126
Cash flows from investing activities:
Investment in property, plant, equipment and purchased intangible		(700	)		(439	)
Purchases of available-for-sale securities and other investments		(23	)		—
Maturities and sales of available-for-sale securities and other investments		69			—
Collateral posted for derivative instruments		(343	)		(60	)
Payment made in connection with business acquisitions, net of cash acquired		(116	)		(15	)
Net cash used in investing activities		(1,113	)		(514	)
Cash flows from financing activities:
Proceeds from debt, net of issuance costs		1,248			266
Payment of debt		(1,312	)		(153	)
Stock-based award activities and others		(113	)		(67	)
Repurchase of common stock		(350	)		(1,200	)
Cash dividends paid		(818	)		(812	)
Settlement of cash flow hedges		6			—
Net cash used in financing activities		(1,339	)		(1,966	)
Decrease in cash, cash equivalents and restricted cash		(379	)		(354	)
Cash, cash equivalents and restricted cash at beginning of period		3,253			3,232
Cash, cash equivalents and restricted cash at end of period	$	2,874		$	2,878

HP INC. AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions)

	Three months ended									Change (%)
	July 31, 2025			April 30, 2025			July 31, 2024			Q/Q		Y/Y
Net revenue:
Commercial PS	$	7,036		$	6,786		$	6,677		4	%	5	%
Consumer PS		2,895			2,238			2,692		29	%	8	%
Personal Systems		9,931			9,024			9,369		10	%	6	%
Supplies		2,604			2,725			2,703		(4	)%	(4	)%
Commercial Printing		1,113			1,167			1,147		(5	)%	(3	)%
Consumer Printing		269			289			293		(7	)%	(8	)%
Printing		3,986			4,181			4,143		(5	)%	(4	)%
Corporate Investments^(a)		16			16			7		NM		NM
Total segment net revenue		13,933			13,221			13,519		5	%	3	%
Other^(a)		(1	)		(1	)		—		NM		NM
Total net revenue	$	13,932		$	13,220		$	13,519		5	%	3	%

Earnings before taxes:
Personal Systems^(b)	$	541		$	409		$	617
Printing		689			814			715
Corporate Investments		(32	)		(37	)		(28	)
Total segment earnings from operations		1,198			1,186			1,304
Corporate and unallocated cost and other		(103	)		(85	)		(101	)
Stock-based compensation expense		(100	)		(140	)		(96	)
Restructuring and other charges		(110	)		(122	)		(46	)
Acquisition and divestiture charges		(8	)		(17	)		(22	)
Amortization of intangible assets		(159	)		(65	)		(81	)
Certain litigation charges^(b)		(2	)		(103	)		(18	)
Interest and other, net^(c)		(92	)		(148	)		(113	)
Total earnings before taxes	$	624		$	506		$	827

(a)	"NM" represents not meaningful.
(b)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(c)	Third quarter of fiscal 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations.

HP INC. AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions)

	Nine months ended						Change (%)
	July 31, 2025			July 31, 2024			Y/Y
Net revenue:
Commercial PS	$	20,467		$	18,964		8	%
Consumer PS		7,712			7,640		1	%
Personal Systems		28,179			26,604		6	%
Supplies		8,155			8,430		(3	)%
Commercial Printing		3,424			3,579		(4	)%
Consumer Printing		857			877		(2	)%
Printing		12,436			12,886		(3	)%
Corporate Investments^(a)		43			14		NM
Total segment net revenue		40,658			39,504		3	%
Other^(a)		(2	)		—		NM
Total net revenue	$	40,656		$	39,504		3	%

Earnings before taxes:
Personal Systems^(b)	$	1,457		$	1,662
Printing		2,313			2,416
Corporate Investments		(96	)		(95	)
Total segment earnings from operations		3,674			3,983
Corporate and unallocated cost and other		(302	)		(278	)
Stock-based compensation expense		(432	)		(367	)
Restructuring and other charges		(302	)		(180	)
Acquisition and divestiture charges		(31	)		(71	)
Amortization of intangible assets		(287	)		(242	)
Certain litigation charges^(b)		(105	)		(18	)
Interest and other, net^(c)		(381	)		(410	)
Total earnings before taxes	$	1,834		$	2,417

(a)	"NM" represents not meaningful.
(b)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(c)	Nine months ended July 31, 2025 includes a gain from a single litigation matter that does not relate to HP's ongoing business operations.

HP INC. AND SUBSIDIARIES SEGMENT OPERATING MARGIN SUMMARY (Unaudited)

	Three months ended			Change (pts)
	July 31, 2025	April 30, 2025	July 31, 2024	Q/Q	Y/Y
Segment operating margin:
Personal Systems^(a)	5.4 %	4.5 %	6.6 %	0.9 pts	(1.2) pts
Printing	17.3 %	19.5 %	17.3 %	(2.2) pts	— pts
Corporate Investments^(b)	NM	NM	NM	NM	NM
Total segment	8.6 %	9.0 %	9.6 %	(0.4) pts	(1.0) pts

	Nine months ended		Change (pts)
	July 31, 2025	July 31, 2024	Y/Y
Segment operating margin:
Personal Systems^(a)	5.2 %	6.2 %	(1.0) pts
Printing	18.6 %	18.7 %	(0.1) pts
Corporate Investments^(b)	NM	NM	NM
Total segment	9.0 %	10.1 %	(1.1) pts

(a)	HP has reclassified certain litigation charges arising from SEP litigations from Personal Systems to Corporate.
(b)	"NM" represents not meaningful.

HP INC. AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Three months ended
	July 31, 2025		April 30, 2025		July 31, 2024
Numerator:
GAAP net earnings	$	763	$	406	$	640
Non-GAAP net earnings	$	713	$	678	$	834

Denominator:
Weighted-average shares used to compute basic net earnings per share		947		950		979
Dilutive effect of employee stock plans^(a)		7		6		11
Weighted-average shares used to compute diluted net earnings per share		954		956		990

GAAP diluted net earnings per share	$	0.80	$	0.42	$	0.65
Non-GAAP diluted net earnings per share	$	0.75	$	0.71	$	0.84

(a)	Includes any dilutive effect of restricted stock units, stock options and performance-based awards.

HP INC. AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts)

	Nine months ended
	July 31, 2025		July 31, 2024
Numerator:
GAAP net earnings	$	1,734	$	1,869
Non-GAAP net earnings	$	2,095	$	2,454

Denominator:
Weighted-average shares used to compute basic net earnings per share		948		986
Dilutive effect of employee stock plans^(a)		7		8
Weighted-average shares used to compute diluted net earnings per share		955		994

GAAP diluted net earnings per share	$	1.82	$	1.88
Non-GAAP diluted net earnings per share	$	2.19	$	2.47

(a)	Includes any dilutive effect of restricted stock units, stock options and performance-based awards.

Use of non-GAAP financial measures

Use and economic substance of non-GAAP financial measures

Net revenue on a constant currency basis excludes the effect of foreign currency exchange fluctuations calculated by translating current period revenues using monthly exchange rates from the comparative period and excluding any hedging impact recognized in the current period. Non-GAAP operating margin is defined to exclude the effects of any amounts relating to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets and certain litigation (benefits) charges, net. Non-GAAP net earnings and non-GAAP diluted net EPS consist of net earnings or diluted net EPS excluding those same charges, non-operating retirement related (credits)/charges, debt extinguishment costs (benefit), tax adjustments and the amount of additional taxes or tax benefits associated with each non-GAAP item.

Restructuring and other charges are (i) costs associated with a formal restructuring plan and are primarily related to employee separation from service and early retirement costs and related benefits, costs of real estate consolidation and other non-labor charges; and (ii) other charges, which includes non-recurring costs including those as a result of information technology rationalization efforts and transformation program management and are distinct from ongoing operational costs. HP excludes these restructuring and other charges (and any reversals of charges recorded in prior periods) for purposes of calculating these non-GAAP measures because HP believes that these costs do not reflect expected future operating expenses and excluding such expenses for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP's current operating performance and comparing operating performance to other periods.

HP incurs cost related to its acquisitions and divestitures, which it would not have otherwise incurred as part of its operations. The charges are direct expenses such as third-party professional and legal fees, integration and divestiture-related costs, as well as non-cash adjustments to the fair value of certain acquired assets such as inventory and certain compensation charges related to cash settlement of restricted stock units and performance-based restricted stock units towards acquisitions. These charges related to acquisitions and divestitures are inconsistent in amount and frequency and are significantly impacted by the timing and nature of HP's acquisitions or divestitures. HP believes that eliminating such expenses for purposes of calculating these non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

HP incurs charges relating to the amortization of intangible assets. Those charges are included in HP’s GAAP earnings, operating margin, net earnings and diluted net EPS. Such charges are significantly impacted by the timing and magnitude of HP’s acquisitions and any related impairment charges. Consequently, HP excludes these charges for purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

HP recorded certain litigation (benefits) charges, net that include (1) settlement expenses, and any reversal of accrual taken for such settlements, from backward-looking claims that arise from certain existing or threatened Standard Essential Patent ("SEP") litigation that is distinctive and substantial when compared to other intellectual property litigation that HP incurs in the ordinary course of business and (2) a gain from a single litigation matter that does not relate to HP's ongoing business operations. HP excludes these impacts for the purpose of calculating these non-GAAP measures.

HP incurs debt extinguishment (benefit) costs, which includes certain (gain)/loss related to the repurchase of certain of its outstanding U.S. dollar global notes or termination of commitments under revolving credit facilities. This (gain)/loss resulting from debt redemption transactions are partially or more than offset by costs such as bond repurchase premiums, bank fees, unpaid accrued interests, etc. HP excludes these (benefit)/costs for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

Non-operating retirement-related (credits) charges include certain market-related factors such as interest cost, expected return on plan assets, amortized actuarial gains or losses, associated with HP’s defined benefit pension and post-retirement benefit plans. The market-driven retirement-related adjustments are primarily due to the changes in the value of pension plan assets and liabilities which are tied to financial market performance and HP considers these adjustments to be outside the operational performance of the business. Non-operating retirement-related (credits) charges also include certain plan curtailments, settlements and special termination benefits related to HP’s defined benefit pension and post-retirement benefit plans. HP believes that eliminating such adjustments for purposes of calculating non-GAAP measures is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

HP recorded tax adjustments including tax expenses and benefits from internal reorganizations, realizability of certain deferred tax assets, various tax rate and regulatory changes, and tax settlements across various jurisdictions. HP excludes these adjustments for the purposes of calculating these non-GAAP measures because HP believes doing so is useful to management and investors in evaluating HP’s current operating performance and comparing operating performance to other periods.

Free cash flow is a non-GAAP measure that is defined as cash flow provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangible. Gross cash is a non-GAAP measure that is defined as cash, cash equivalents and restricted cash plus short-term investments and certain long-term investments that may be liquidated within 90 days pursuant to the terms of existing put options or similar rights. HP’s management uses free cash flow and gross cash for the purpose of determining the amount of cash available for investment in HP’s businesses, repurchasing stock and other purposes. HP’s management also uses free cash flow and gross cash to evaluate HP’s historical and prospective liquidity. Because gross cash includes liquid assets that are not included in cash, cash equivalents and restricted cash, HP believes that gross cash provides a helpful assessment of HP’s liquidity. Because free cash flow includes net cash provided by (used in) operating activities adjusted for net investment in leases from integrated financing and net investments in property, plant, equipment and purchased intangible. HP believes that free cash flow provides a useful assessment of HP’s liquidity and capital resources. Net cash (debt) is defined as gross cash less gross debt after adjusting the effect of unamortized premium/discount on debt issuance, debt issuance costs and gains/losses on interest rate swaps.

Key Growth Areas
Key Growth Areas represent HP’s businesses which management expects to collectively grow at a rate faster than HP’s core business with accretive margins in the longer term. HP’s Key Growth Areas are comprised of:

Hybrid Systems: Video conferencing solutions, cameras, headsets, voice, and related software capabilities

Workforce Solutions: Managed services (Managed Print Service and Device-as-a-Service), digital services and lifecycle services

Consumer Subscriptions: Instant Ink services, other consumer subscriptions and consumer digital services

Industrial Graphics: Large Format Industrial, Page Wide Press (PWP), Indigo and Page Wide Industrial packaging solutions and supplies

3D & Personalization: Portfolio of additive manufacturing solutions and supplies including end-to-end solutions such as moulded fiber, footwear and orthotics

Material limitations associated with use of non-GAAP financial measures
These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are:

Items such as amortization of intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this change in value is not included in non-GAAP operating margin, non-GAAP net earnings and non-GAAP diluted net EPS, and therefore does not reflect the full economic effect of the change in value of those intangible assets.

Items such as restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, certain litigation (benefits) charges, net are excluded from non-GAAP operating margin. In addition, non-operating retirement-related (credits) charges, debt extinguishment costs (benefit), certain litigation (benefits) charges, net and tax adjustments are excluded from non-GAAP other income and expenses, non-GAAP tax rate, non-GAAP net earnings and non-GAAP diluted net EPS. These items can have a material impact on the equivalent GAAP earnings measure and cash flows.

HP may not be able to immediately liquidate the short-term and certain long-term investments included in gross cash, which may limit the usefulness of gross cash as a liquidity measure.

Other companies may calculate the non-GAAP financial measures differently than HP, limiting the usefulness of those measures for comparative purposes.

Compensation for limitations associated with use of non-GAAP financial measures

Usefulness of non-GAAP financial measures to investors

HP Inc. Media Relations
MediaRelations@hp.com

HP Inc. Investor Relations
InvestorRelations@hp.com

Source: HP Inc.

Updated time: HP Inc. to Announce Third Quarter Fiscal 2025 Earnings on Aug 27, 2025

Thu, 14 Aug 2025 16:15:00 -0400

PALO ALTO, Calif., Aug. 14, 2025 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) will present a live audio webcast of a conference call to review financial results for the third fiscal quarter ended July 31, 2025 on Wednesday, Aug 27, 2025 at 4:30 p.m. ET / 1:30 p.m. PT.

The webcast will be available at www.hp.com/investor/2025Q3Webcast.

A replay of the audio webcast will be available at the same website shortly after the call and will remain available for approximately one year.

About HP Inc.


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www.hp.com/go/newsroom

Source: HP Inc.