HP Inc. surpassed Wall Street estimates for second-quarter revenue, signaling a revival in the PC market as customers upgrade their systems. After a sales boom during the pandemic and a subsequent slump, HP benefits from easing declines. CEO Enrique Lores anticipates around 10% of HP’s PC sales in the second half of fiscal 2024 will be “AI PCs,” with significant impact in 2025. Education sector demand drove second-quarter sales, with schools upgrading their systems. HP reported $12.8 billion in revenue, beating estimates of $12.6 billion. Sales in HP’s personal systems segment increased by 3%, while the printing segment saw an 8% decline. HP projects fiscal 2024 adjusted profit between $3.30 and $3.60 per share, slightly above analyst expectations.
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