HP Shares Are Down 31% Over the Past Year Despite a Revenue Beat

2 hours ago 3

David Beren

Thu, April 2, 2026 astatine 12:11 PM CDT 4 min read

HP (HPQ) bushed Q1 FY2026 gross estimates astatine $14.44B (+6.9% YoY) and non-GAAP EPS of $0.81 versus $0.77 estimate, with AI PCs present representing much than 35% of PC shipments and Personal Systems gross up 11% to $10.25B, yet gross nett fell 0.18% and operating income declined 10.18% arsenic RAM costs present correspond 35% of measure of materials. Dell (DELL) faces identical representation outgo headwinds and AI PC modulation pressures, with HP’s concern main informing that representation volatility volition persist into adjacent year.
HP’s AI PC momentum cannot offset elevated representation costs and declining printing revenue, forcing the institution to negociate simultaneous borderline compression from constituent ostentation and a double-digit diminution successful PC portion shipments guidance for 2026.
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HP Inc (NYSE:HPQ) bushed Q1 FY2026 estimates connected some the apical and bottommost lines, yet shares person mislaid 31% implicit the past twelvemonth and commercialized adjacent their 52-week debased of $17.56. Meanwhile, Reddit sentiment scores person settled successful the 22-28 range, with 70% of records classified arsenic bearish. AI PC momentum is real, but representation costs are absorbing the gains.

HP posted Q1 gross of $14.44 billion, up 6.9% twelvemonth implicit year, and non-GAAP EPS of $0.81 against a $0.77 estimate. Personal Systems gross roseate 11% to $10.25 billion, with AI PCs present accounting for much than 35% of full PC shipments. Gross nett was fundamentally flat, down 0.18% twelvemonth implicit year, and operating income fell 10.18% contempt that gross growth. Management guided full-year non-GAAP EPS to the debased extremity of $2.90 to $3.20 and flagged a double-digit diminution successful PC portion shipments for 2026.

An infographic titled 'HP INC. (HPQ): THE 35% SQUEEZE' with an illustration of a laptop and a printer. It features a 'SOCIAL SENTIMENT SCORE' of '22-28' with a downward arrow, stating '70% Bearish (Based connected Reddit data)'. Below, nether 'WHAT IS DRIVING THE SCORE TODAY', 4 sections describe: 'SURGING COMPONENT COSTS' with an upward arrow and RAM sticks, citing 'Rising representation costs pressuring margins.'; 'PROFITABILITY PRESSURE' with a downward arrow and a barroom chart, detailing 'Operating Income down 10.18% YoY contempt 6.9% Revenue Growth (Q1 FY2026).'; 'PRINTING SEGMENT DECLINE' with a downward arrow and a printer icon, stating 'Printing Revenue down 2% YoY, Consumer Printing down 8%.'; and 'FULL YEAR FY2026 GUIDANCE' with a downward arrow and a calendar icon, showing 'Non-GAAP EPS $2.90-$3.20 (expected astatine debased end).'

This infographic details HP Inc.'s societal sentiment score, which indicates a bearish outlook, on with the cardinal factors driving this sentiment, including constituent costs, profitability, and the diminution of the printing segment. It besides provides full-year FY2026 Non-GAAP EPS guidance.

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Discussion crossed r/wallstreetbets, r/investing, and r/stocks picked up sharply astir the net release, with the highest engagement model logging 1,539 upvotes and 418 comments. Users are not dismissing the AI PC communicative but are focused connected whether HP tin construe portion maturation into borderline betterment portion representation prices enactment elevated. A thread successful r/technology captured the concern, with 1 commenter noting: "It means your RAM is little stringently prime tested, which is bad. They besides reduced shipping costs, which is good. I telephone it frogurt."

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