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HP $HPQ +0.78% reported fiscal second-quarter revenue of $14.4 billion, up 9% year-over-year, and adjusted earnings per share of $0.86, up 21% from a year earlier, as demand for AI-capable personal computers drove strong growth in its Personal Systems segment.
Against the SiliconANGLE-cited consensus expectation of $0.71 in adjusted EPS on $14.07 billion in revenue, the results were a clear beat on both lines. HP's own non-GAAP forecast had called for $0.70 to $0.76 per share, a range the company cleared. On a GAAP basis, however, diluted EPS of $0.49 fell short of the prior $0.52 to $0.58 guidance range, with $365 million in restructuring and other charges serving as the main drag.
The Personal Systems segment, which includes HP's PC business, posted revenue of $10.2 billion, up 13% year-over-year, with commercial PC revenue rising 14% and consumer PC revenue rising 10%, the company said. Despite the strong revenue performance, overall PC unit volumes declined 7%, a divergence pointing to higher average selling prices as the primary driver of growth rather than any expansion in units sold. The Printing segment reported revenue of $4.2 billion, flat year-over-year, with an operating margin of 18.3%, down from 19.2% a year earlier.
