Total operating revenue of US$15.677 billion, representing a year-on-year increase of 12.5%
By Sam Ovie
·
Published on August 26, 2026
·
4 min read
HP today released its fiscal year 2026 (November 1, 2025 – October 31, 2026) third fiscal quarter (May 1, 2026 – July 31, 2026) and half-year report (November 1, 2025 – July 31, 2026):
- Total operating revenue: US$15.677 billion (approximately RMB 105.616 billion at the current exchange rate) , representing a year-on-year increase of 12.5%.
- Gross profit: US$2.945 billion (approximately RMB19.841 billion at the current exchange rate)
- Gross profit margin: 18.79%
- Net profit attributable to shareholders: US$661 million (approximately RMB 4.453 billion at the current exchange rate), a year-on-year decrease of 13%.
- Operating cash flow: US$1.735 billion (approximately RMB11.689 billion at the current exchange rate)
- Free cash flow : US$1.57 billion (approximately RMB 10.577 billion at the current exchange rate)
- Basic earnings per share: US$0.72 (approximately RMB 4.85 at the current exchange rate)
- Diluted earnings per share: US$0.71 (approximately RMB 4.78 at the current exchange rate)
- Total operating revenue: US$44.523 billion. (approximately RMB 299.952 billion at the current exchange rate), representing a year-on-year increase of 10%.
- Gross profit: US$8.796 billion (approximately RMB 59.259 billion at the current exchange rate)
- Gross profit margin: 19.76%
- Net profit attributable to shareholders: US$1.656 billion (approximately RMB 11.156 billion at the current exchange rate), a year-on-year decrease of 4.5%.
- Operating cash flow: US$3.044 billion (approximately RMB 20.507 billion at the current exchange rate)
- Basic earnings per share: US$1.8 (approximately RMB 12.13 at the current exchange rate)
- Diluted earnings per share: US$1.79 (approximately RMB 12.06 at the current exchange rate)
HP’s revenue and non-GAAP earnings per share for the third fiscal quarter of 2026 both exceeded previous market guidance, and the company also raised its full-year earnings forecast, outperforming market expectations overall.
Key highlights of the financial report
- Total net revenue reached US$15.7 billion (approximately RMB 105.771 billion at the current exchange rate) , representing a year-on-year increase of 12.5%. Of this, the Personal Systems segment generated US$11.8 billion in revenue (approximately RMB 79.497 billion at the current exchange rate) , a year-on-year increase of 18%; while the Printing segment generated US$3.9 billion in revenue (approximately RMB 26.274 billion at the current exchange rate) , a year-on-year decrease of 2%.
- GAAP net income attributable to shareholders was $660 million (approximately RMB 4.446 billion at the current exchange rate) , a decrease of 13% year-over-year; GAAP basic earnings per share were $0.72 (approximately RMB 4.85 at the current exchange rate) , and diluted earnings per share were $0.71 (approximately RMB 4.78 at the current exchange rate).
- Non-GAAP net income attributable to shareholders was $770 million (approximately RMB 5.187 billion at the current exchange rate) , representing an 8% year-over-year increase; non-GAAP diluted earnings per share were $0.83 (approximately RMB 5.59 at the current exchange rate) , representing an 11% year-over-year increase.
- Net cash flow from operating activities was US$1.7 billion (approximately RMB 11.453 billion at the current exchange rate) , and free cash flow was US$1.6 billion (approximately RMB 10.779 billion at the current exchange rate).
- The company returned a total of US$600 million (approximately RMB 4.042 billion at the current exchange rate) to shareholders during the quarter , including share buybacks and dividend payments.
Earnings Outlook
- For the fourth fiscal quarter of 2026, we expect GAAP diluted earnings per share to be between $0.74 (approximately RMB 4.99 at the current exchange rate) and $0.84 (approximately RMB 5.66 at the current exchange rate) , and non-GAAP diluted earnings per share to be between $0.69 (approximately RMB 4.65 at the current exchange rate) and $0.79 (approximately RMB 5.32 at the current exchange rate).
- The company has raised its full-year 2026 earnings guidance: GAAP diluted earnings per share are revised upwards to $2.52 (approximately RMB 16.98 at current exchange rate) to $2.62 (approximately RMB 17.65 at current exchange rate) ; non-GAAP diluted earnings per share are revised upwards to $3.19 (approximately RMB 21.49 at current exchange rate) to $3.29 (approximately RMB 22.16 at current exchange rate) ; and free cash flow is revised upwards to $3 billion (approximately RMB 20.211 billion at current exchange rate) to $3.2 billion (approximately RMB 21.558 billion at current exchange rate).
