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HP’s Earnings In A Mature PC And Print Market: Managed Growth and Rising Costs

HP’s Q4 FY2025 earnings call presents a more mixed but still constructive picture for end‑of‑life IT asset management providers and remarketing companies. Personal Systems is growing and skewing toward higher‑value, AI‑capable devices, while Print remains structurally pressured, and both businesses are bracing for a sharp rise in memory costs. Taken at face value, HP’s narrative […] Continue reading below.
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HP’s Q4 FY2025 earnings call presents a more mixed but still constructive picture for end‑of‑life IT asset management providers and remarketing companies. Personal Systems is growing and skewing toward higher‑value, AI‑capable devices, while Print remains structurally pressured, and both businesses are bracing for a sharp rise in memory costs. Taken at face value, HP’s narrative points to a steady, policy‑driven PC refresh cycle, a slowly evolving print installed base, and a deliberate shift toward contractual and subscription models—all of which will shape how and when devices enter downstream ITAD, reuse, and recycling channels.

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Author: David Daoud | Principal Analyst

David Daoud has researched the mainstream IT hardware market since 1996 and expanded into hardware disposition research in 2003. He has spearheaded the creation of IDC’s GRADE certification. Since then, David has been providing consulting and expert advice to companies looking to establish best practice in their IT equipment decommissioning and helped leading ITAD service providers assess demand, understand competition, and forecast what’s to come. David is currently the Principal Analyst at Compliance Standards, which focuses entirely on the end-of-life of IT equipment. He can be reached at 754-229-0095 or at ddaoud@compliance-standards.com

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