HP reported revenue growth in the third quarter, as higher prices and demand for personal computers optimized for artificial intelligence more than offset a decline in PC sales volumes. The printer and computer maker on Wednesday reported a profit of $661 million, or 71 cents a share, down from $763 million, or 80 cents a share, a year earlier. Stripping out certain one-time items, adjusted earnings were 83 cents a share. Analysts polled by FactSet were expecting 66 cents a share.

Both the per-share profit and adjusted earnings include a tariff refund of 11 cents, HP said, adding that it expects to recognize further refunds in the current fourth quarter. Revenue rose nearly 13% to $15.68 billion, beating analyst expectations for revenue of $14.44 billion. In HP’s personal systems segment, which includes PCs, revenue rose 18% to $11.77 billion, though units in the segment fell 16%. Revenue in HP’s print segment fell 2% to $3.91 billion.

HP has been lifting pricing on its computers to address a run-up in memory chip prices. The company on Wednesday said its efforts to address the crunch led to improvements in both memory supply and fulfillment rates, adding that it continues to see strong growth in its AI PC portfolio. “With three solid quarters behind us, we’ve demonstrated our ability to navigate through a challenging cost environment and are building on that momentum to further mitigate near-term cost pressures while continuing to invest for long-term profitable growth,” Chief Financial Officer Karen Parkhill said.

HP lifted its outlook for the full year, projecting adjusted earnings between $3.19 and $3.29 a share, including a 19 cent favorable impact from expected tariff refunds. It previously guided for adjusted earnings between $2.90 and $3.10 a share, and analysts are expecting $3.05 a share. The company also lifted its full-year free cash flow outlook to a range of $3 billion to $3.2 billion, a boost of $200 million. For the current fourth quarter, the company projected adjusted earnings between 69 cents and 79 cents a share, including 8 cents a share worth of expected tariff refunds. Analysts are expecting adjusted earnings of 67 cents a share.