HP tops revenue, profit estimates as AI PC and Windows 11 refresh boost demand

HP beat analysts’ estimates for second-quarter revenue and profit on Wednesday, helped by strong demand for AI-optimized personal computers, but warned that rising memory costs would pressure margins.

PC makers including HP, Dell Technologies and China’s Lenovo Group are navigating a shortage of memory chips as data center buildout is sucking up capacity and triggering price increases of smartphones and PCs.