HP Executives Discuss Memory-Supply Constraints, Bright Spots in Print, and AI Transforming Personal Systems Business

by Kathleen Wirth · May 28, 2026

On May 27th, HP Inc. leadership held a second-quarter earnings conference call. For the second quarter, net revenue was $14.4B, up 9.0 percent year-over-year. PC revenue made up 71 percent of revenue, while Print revenue made up 29 percent or revenue.

Enhancing PCs and Printers with Artificial Intelligence

HP Inc. Interim CEO Bruce Broussard spoke of how HP is using AI to transform personal computing and printing, as well as how the company is cultivating new partners in this space. For instance, AI Producer is transforming HP AI PCs into professional production studios. In the second quarter, HP introduced its next generation AI PCs and expanded local AI capabilities with an ecosystem of more than 150 software companies of all sizes. To bring data center capabilities directly to the desktop in order to support the most demanding AI and computing workloads, HP introduced new Z Workstations and AI Stations. In the second quarter, HP AI PC shipments increased from more than 35 percent to 44 percent of its shipment mix in the quarter.

Meanwhile, in the print department, HP launched a new LaserJet series with AI-enabled document workflows, quantum-resistant security, and up to 50 percent faster document handling, making work easier and more secure. Also in the second quarter, HP introduced the HP Multi Jet Fusion 1200 industrial 3D printer, bringing industrial 3D printing capabilities into a more compact, accessible system designed to help customers move from prototyping to production..

The company also introduced HP IQ, a groundbreaking intelligence layer that coordinates an integrated experience across all HP products. A key feature is HP NearSense, a new spatial intelligence that helps devices easily discover and connect to each other. HP’s goal is to make tasks like file sharing, joining meetings, and moving between environments feel more intuitive and effortless.

Bright Spots in Print

Although Print revenue was flat year-over-year, as expected, the Industrial Graphics print segment delivered its 11th straight quarter of revenue growth with momentum in hardware, supplies, and services. There was also double-digit growth in 3D printing for the fifth straight quarter.

Additionally, there was double-digit growth for HP ink-tank inkjet printers, which also gained market share both year-over-year and versus preceding quarters.

HP also saw continued improvement in the office market and increased its market share versus preceding quarters in all A4 office categories.

Memory and Storage Costs

The current global computer memory (RAM) shortage is primarily driven by an unprecedented surge in demand for AI infrastructure.

HP reported that computer memory and storage costs increased over the preceding quarters, and it expects this trend to continue in the second half of 2026, with costs increasing in the third and fourth quarters.

However, the company says it’s countered these challenges with several strategies that it had outlined in February. It says that with strong supplier relationships and long-term agreements, it’s confident it has the memory and storage that it needs for this fiscal year. Altogether, it says its strategic inventory is helped it remain cost competitive and to maintain supply continuity.

Lagging Print Market

HP CFO Karen Parkhill explained that in Print, it agrees with industry experts anticipating a low single-digit decline in the hardware market in the second half of the calendar year. It’s seeking to gain additional market share, both in ink-tank inkjet printers through portfolio extensions and targeted promotions, and in the Office segment as it rolls out its latest AI-enabled laser printer and copier/MFP portfolios.

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HP Executives Discuss Memory-Supply Constraints, Bright Spots in Print, and AI Transforming Personal Systems Business

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