HP’s earnings per share continued to decline last quarter, with the company planning to reduce its workforce by 4,000 to 6,000 employees under new cost-cutting measures.
Adjusted earnings per share were US$0.93, above LSEG estimates of $0.92 but down 6% year-over-year. Revenue was $14.64 billion, up 4.2% and beating estimates of $14.48 billion.
“HP’s strategy to lead the Future of Work continues to deliver strong performance, marked by our sixth consecutive quarter of revenue growth,” said HP CEO Enrique Lores.
“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.”
The company said it aims to save around $1 billion by the end of fiscal 2028 under its newly announced cost-cutting plan, which includes laying off between 4,000 and 6,000 employees worldwide. It projected a $650 million restructuring-related charge, with $250 million of this due in fiscal 2026.
HP’s earnings per share have now fallen for four consecutive quarters, and its shares are down 16.7% across 2025 to date.
Its Personal Systems revenue last quarter was up 8% year-over-year to $10.4 billion, with Consumer Personal Systems leading revenue growth at 10%.
Printing revenue dropped 4% to $4.3 billion. Revenue from Consumer Printing was down 9%, and revenue from Commercial Printing fell by 4%.
The company expects earnings per share of $0.73-0.81 next quarter, largely weaker than estimates of $0.79 due to U.S. trade policies. It predicts earnings per share will be $2.90-3.20 across its fiscal 2026, well below estimates of $3.33.
HP’s share price dropped 5% in extended trading before ticking back up to $27.80, following a close at $27.58. Its market capitalisation is $2.72 billion.
