HP Inc. reported second-quarter fiscal 2025 results with net revenue rising 3.3% year-over-year to $13.22 billion, slightly above estimates. Adjusted earnings per share (EPS) was $0.71, down 13% from the prior year and below consensus expectations. GAAP diluted EPS was $0.42, down 31%. The company also reported negative free cash flow of approximately $95 million. Personal Systems revenue increased 7% to $9.02 billion. HP cut its full-year adjusted EPS guidance to a range of $3.00 to $3.30, down from a previous range of $3.45 to $3.75. Third-quarter EPS guidance was lowered to $0.68 to $0.80, compared to a prior maximum of $0.91. The company cited added costs from US tariffs on Chinese goods as a primary factor impacting margins and demand. HP shares fell between 12% and 17% in after-hours trading following the earnings and guidance miss. The company announced plans to accelerate the shift of North America-bound production out of China by the end of June and indicated targeted price increases to offset cost pressures from tariffs. Dell Technologies reported first-quarter revenue of $23.38 billion, up 5% year-over-year and above expectations. Adjusted EPS was $1.55, missing estimates. Dell raised its full-year profit outlook to $9.40 per share, up from $9.30, citing strong demand for AI servers powered by Nvidia chips. Dell reported $12.1 billion in AI server orders for the quarter and a $14.4 billion backlog. Second-quarter revenue is forecast between $28.5 billion and $29.5 billion, with adjusted EPS guidance of $2.25. Infrastructure Solutions Group revenue was $10.3 billion and Client Solutions Group revenue was $12.5 billion. Dell reiterated its annual revenue outlook of $103 billion.