HP reported an operating profit of $984 million on revenues of $13.5 billion in the quarter ending January 30, 2025. Revenues were up 2.4 percent year-over-year (YOY).
“We are pleased with our fiscal Q1 performance, achieving revenue growth for the third straight quarter and advancing our strategy to lead the future of work,” HP president and CEO Enrique Lores said. “Our progress was fueled by a strong commercial business in Personal Systems and momentum in our key growth areas, including AI PCs. We are focused on taking decisive action to address evolving market conditions in the near-term, while investing in our long-term growth.”
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HP’s Personal Systems business is responsible for its PC sales, and it saw revenues rise 5 percent YOY to $9.2 billion. 49 percent of HP’s revenues overall in the quarter came from commercial PC sales, while 19 percent came from consumer PCs. Printing contributed the remaining 32 percent of revenues, or $4.3 billion, split between printing supplies (21 percent overall), commercial printing (9 percent), and consumer printing (2 percent).
HP credited the gain in PC revenues to its commercial PC sales, which saw 5 percent growth YOY by revenues, 6 percent higher unit sales YOY, and a higher average price. Consumer PC sales declined 7 percent YOY by revenues and by 11 percent YOY by unit sales. Overall, HP’s total PC sales were down 1 percent by units.
Looking ahead, HP believes at AI PC sales will drive sequential revenue growth, and the firm touted its market share growth “propelled by the Windows 11 refresh cycle.” HP purchased the assets of Humane, which had made a wearable AI pin, to help in its efforts to deliver more local generative AI capabilities to PC customers.
