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Q1 FY26Technology Hardware, Storage and Peripherals

HP Inc. Q1 FY26 Results — Earnings Call Analysis

Q1 FY26 earnings call: what management said on revenue, margins and capex.

Price₹25
Market cap₹23.0K Cr
P/E9.3
Updated29 May 2026
Read4 min read

What the Q1 FY26 call signalled

1 of 3 strong

RevenueSlow growth
MarginMargins slightly down
CapexCapex planned

The short version

- HP expects continued revenue growth in Personal Systems (PS) for fiscal year 2026, driven by pricing actions, share gains in premium categories, and increased attach rates of higher-margin peripherals and solutions. - HP expects revenue growth in Personal Systems (PS) for fiscal year 2026, driven by pricing actions, share gains in premium categories, and increased attachment of higher-margin offerings.

From HP Inc.'s Q1 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Slow growth
  • HP expects continued revenue growth in Personal Systems (PS) for fiscal year 2026, driven by pricing actions, share gains in premium categories, and increased attach rates of higher-margin peripherals and solutions.
  • Q2 revenue in PS is expected to be stronger than normal seasonality, fueled by Win 11 refresh momentum and AI PC adoption; growth is anticipated to moderate but still continue in the back half of the year.
  • Print revenue is expected to be in line with normal seasonality in Q2, with growth driven by Big Tanks, industrial print, subscriptions, and share gains in key segments despite overall hardware market decline.

2 more points from HP Inc.'s call on revenue

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Profitability & Margins

See what HP Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • HP is actively investing in AI enablement as part of a company-wide transformation program, aiming to deliver $1 billion in gross run rate savings by FY ’28, with $300 million expected by the end of FY ’26.
  • They are accelerating these AI-related initiatives and driving additional cost actions to mitigate increasing headwinds.
  • HP established an exploratory partnership with OpenAI to pilot OpenAI Frontier, an enterprise platform for building and managing AI agents, positioning HP at the forefront of enterprise AI deployments.
  • The company is investing in product innovation and cost reduction to regain share in high-value office print categories and premium Personal Systems segments.

2 more points from HP Inc.'s call on capex

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Fundraising & Capital Structure

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Order Book & Pipeline

See what HP Inc. said on order book & pipeline — free account, 30 seconds.

Continue your research

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Frequently Asked Questions

What were HP Inc. Q1 FY26 results?

- HP expects continued revenue growth in Personal Systems (PS) for fiscal year 2026, driven by pricing actions, share gains in premium categories, and increased attach rates of higher-margin peripherals and solutions. - HP expects revenue growth in Personal Systems (PS) for fiscal year 2026, driven by pricing actions, share gains in premium categories, and increased attachment of higher-margin offerings.

What is HP Inc. share price analysis?

HP Inc. currently shows a neutral. The stock trades at a P/E of 9.3 with a market cap of $22,954. Investors should review the full earnings analysis for detailed insights.

Is HP Inc. planning capital expenditure?

- HP is actively investing in AI enablement as part of a company-wide transformation program, aiming to deliver $1 billion in gross run rate savings by FY ’28, with $300 million expected by the end of FY ’26.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.