By Elias Schisgall

HP saw earnings and revenue rise in the fiscal second quarter but said it expects to be less profitable this year than it previously projected.

The printer and computer maker said Wednesday it now expects a full-year profit between $2.15 and $2.45 a share. It was previously forecasting a range of $2.47 to $2.77 a share. It sees full-year adjusted earnings between $2.90 and $3.10 a share, cutting the upper end from $3.20 a share. Analysts polled by FactSet are expecting $2.87 a share.

"With two solid quarters behind us, we are executing with discipline in a dynamic environment and are strengthening our outlook for the fiscal year to reflect this," Chief Financial Officer Karen Parkhill said.

The company said in February that investors should expect results at the lower end of the previous range, citing the memory chip shortage that has driven up costs across the technology industry.

Those chips are used in HP's computers, but are also key components of the ongoing artificial-intelligence data-center buildout. Memory chip manufacturers like Sandisk and Seagate Technology are racing to boost their supply to meet skyrocketing demand.

HP has previously outlined steps to deal with the shortage, including raising computer prices and seeking lower-cost suppliers.

The company on Wednesday reported a profit of $450 million, or 49 cents a share, up from $406 million, or 42 cents a share, a year earlier.

Stripping out certain one-time items, HP recorded adjusted earnings of 86 cents a share. Analysts polled by FactSet were expecting 71 cents a share.

Revenue rose to $14.41 billion, from $13.22 billion a year prior, and beating analyst expectations of $13.99 billion, according to FactSet.

Revenue from the personal systems segment rose 13% to $10.21 billion. Printing revenue held flat year-over-year at $4.2 billion.

For the current third quarter, HP sees earnings per share of 47 cents to 63 cents. It also expects adjusted earnings between 61 cents and 71 cents a share, compared with analyst estimates of 64 cents a share.

For 2026, HP anticipates generating free cash flow of $2.8 billion to $3 billion.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 27, 2026 16:15 ET (20:15 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.