Hp Inc
HPQQ2 2025Estimated3% AI
AI Revenue %
3%
AI Fair Value
$779.5M
AI Revenue (Q)
$779.5M
Total Revenue (Q)
$26.0B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
HP's Q2 FY2025 (three months ended Apr 30, 2025) shows total revenue of $13,220M (Products $12,423M, Services $797M). Still no AI-specific revenue disclosure. Windows 10 EOL refresh accelerating. Industry AI PC penetration approaching ~30% of shipments. However, cost of products increased significantly ($10,007M vs $9,324M prior year), partly due to higher component costs including NPU-equipped processors and tariffs. Personal Systems ~$9.6B. Estimate: 30% * ($80/$900) * $9.6B = ~$256M, plus AI services/workstations ~$50M. Total ~$306M / $13,220M = ~2.3%. Adjusting upward to 3.0% to reflect increasing AI PC ASP premiums as more advanced NPU models (Intel Lunar Lake, Qualcomm Snapdragon X) ship with higher margins.
Analyzed by claude-opus-4-6
Quoted Figures
Net revenue Products $12,423M, Services $797M, Total $13,220M [three months ended April 30, 2025]
10-Q Q2 FY2025, Consolidated Condensed Statements of Earnings
AI Products Identified (Ring 1)
HP AI PCs (Intel Lunar Lake, Qualcomm Snapdragon X, AMD Ryzen AI NPU-equipped)HP AI Workstations (Z-series)HP Wolf Security (AI deep-learning)Intelligent print features
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Poly video/audio solutions (AI features)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix