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HP rose over 8% in extended trading on Wednesday as it saw office reopenings lifting PC demand ahead of promising holiday season

The company on Tuesday said it generated quarterly sales of $16.7 billion, up 9.3% from the year-ago period, and $3.1 billion in net income, including a one-time $1.78 billion legal settlement. The results beat Wall Street expectations for both sales and earnings.

“We are seeing strong demand coming from the commercial side, from the office side because offices are reopening and companies are invested in creating a better experience for their employees,” HP Chief Executive Enrique Lores told The Wall Street Journal.

Commercial PC revenue grew 25%, the company said, while consumer PC sales retreated 3%, from their lofty levels a year ago.

HP said it expects to generate per-share earnings of $0.92 to $0.98 in the current quarter and $3.86 to $4.06 for the full fiscal year ending Oct. 31, 2022, both ahead of Wall Street expectations.