Filing Flows › HP (HPQ) › Q3 FY25
HP (HPQ) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 28, 2025
HP (HPQ) reported revenue of $13.9B for the third quarter fiscal 2025 (Q3 FY25), +3% from a year earlier and +5% from the quarter before. Operating margin was 5.1%, net earnings $763M (5.5% of revenue).
HP, Q3 FY25: revenue $13.9B (+3% year over year), operating margin 5.1%, net earnings $763M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.9B | +5% | +3% |
| Gross profit | $2.9B | +4% | -2% |
| Operating profit | $716M | +9% | -24% |
| Net earnings | $763M | +88% | +19% |
| Operating cash flow | $1.7B | 44× | +17% |
| Free cash flow | $1.4B | — | +15% |
What changed
Revenue was $13.9B in Q3 FY25, up 3% year over year and up 5% from the previous quarter. Products was the largest line at 94% of revenue. Products added $0.36B year over year (up 3%), 88% of the total change.
Gross margin was 20.5%, down 1.0 points from a year earlier. Operating profit was $0.72B, a 5.1% margin (down 1.8 points year over year). Operating profit fell $0.22B even though revenue rose $0.41B versus a year earlier, so costs grew faster than sales. Operating expenses grew 9% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+86%). Net earnings were $0.76B, up 19% year over year. The effective tax rate was -22.3%.
Operating cash flow was $1.7B (up 17% year over year), 218% of net earnings. Non-cash charges added back $0.31B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.49B. Capital expenditures of $0.21B left free cash flow of $1.4B.
Questions
What was HP's revenue in the third quarter fiscal 2025?
HP (HPQ) reported revenue of $13.9B for the third quarter fiscal 2025 (Q3 FY25), +3% from a year earlier and +5% from the quarter before.
Was HP profitable in the third quarter fiscal 2025?
Operating profit was $716M (5.1% of revenue) and net earnings $763M.
Source: HP 10-Q on SEC EDGAR.