Thank you, Beth and thank you everyone for joining the call today. I hope you and your families are safe and well. HP had an exceptional start to the year with strong revenue and profit growth in Q1.
We are benefiting from the strength of our portfolio and the diversity of our businesses.
We continue to evolve our business model to meet changing customer needs, while expanding into adjacencies to grow our addressable market. And we are driving an aggressive transformation agenda by rigorously managing our costs, while investing to drive future growth. Simply put, we are doing what we said we would do and our strategy is working.
Our Q1 results are impressive across many dimensions. We delivered strong topline growth with net revenue up 7% to $15.6 billion and balanced growth across personal systems and print. We delivered strong bottom-line growth with $295 million in non-GAAP operating profit dollar flow through and double-digit profit growth in both personal systems and print. We delivered non-GAAP net earnings of $1.2 billion, up 24% with $0.92 of non-GAAP diluted net earnings per share. This is up $0.27 compared to Q1 of last year. And finally, we delivered $908 million of free cash flow in the quarter.
We also remain committed to a significant return of capital. We returned $1.6 billion to shareholders including $1.4 billion in share repurchases and $250 million in dividends.
Over the last three quarters, we have returned $4.4 billion to shareholders and repurchased approximately 13% of our shares. At the onset of the pandemic, I told our teams that this is a time when strong companies find ways to emerge stronger. And last quarter results show that exactly what we are doing. HP's broad and differentiated portfolio and leadership across consumer and commercial markets make us more resilient across business cycles.
We continue to capitalize on the strong demand for our offering particularly in consumer to drive profitable growth. Yes the impact of the pandemic is ongoing and the pace of the economic recovery remains uneven.
We are continuing to manage our business in a disciplined and prudent manner while remaining agile in the face of change. This means capitalizing on opportunities when they arise, while also managing volatility when it occurs.
As we balance all of these dynamics, we have stayed focused on executing against our strategy to advance our leadership in Personal Systems and Print by optimizing our core and expanding into attractive adjacencies, disrupt industries with our technology to create new businesses in areas like 3D, industrial print and microfluidics. And transform the way we work to be more digitally enabled and cost efficient.
Our continued progress against these strategic priorities is reflected in the strong revenue and profit growth, free cash flow and capital returns we delivered in Q1 and in the positive momentum in each of our businesses. I will start with Personal Systems which had another strong quarter with revenue of $10.6 billion. We shipped more than 18 million units and generated operating margins of 7.1%. Consumer revenue growth accelerated to 34% with consumer premium up 34%, gaming up 29% and consumer accessories up 22%. And on top of this, Chromebook revenue quadruple. We exited the quarter with a record backlog as we continue to operate with component supply shortages that are expected to constrain our growth through at least Q3. It's clear we have entered a new era of innovation and growth for PCs. They have become an essential part of how people work learn and play. And we continue to innovate to create new experiences. It's funny to say that the PC is personal once again. And we are seeing this in the awards we are receiving. At last month Consumer Electronics Show, we introduced new devices and solutions to power hybrid work environment and personal creative studios. And we were recognized with over 70 awards for our latest launches including our new 5G-enabled products.
Looking ahead we expect to see continued PC unit growth through 2021, which we anticipate will create additional opportunities for us to drive profitable growth.
We are also accelerating in attractive adjacencies such as gaming and peripherals.
As with every market in which we play, our goal is to be a leader in this space. This week we announced the acquisition of HyperX the market leader in gaming headsets. The addition of HyperX expands our presence in the growing peripheral market with a brand that is trusted by gamings around the world.
Our existing strength in gaming hardware combined with portfolio spanning gaming headsets microphones and other peripherals will further expand our ecosystem and create another growth engine in Personal Systems. Much like Personal Systems Print is off to a terrific start to the year.
This quarter demonstrated the power of print to help people learn, create and perform with 7% revenue growth, 16% unit growth and 32% profit growth. In Q1, our Printing business generated revenue of $5 billion and operating profit of $1 billion. Similar to the Personal Systems business, we remain supply constrained, particularly in consumer printer, hardware and supplies.
While the COVID-19 related impacts on our manufacturing and supply chain have diminished, we anticipate these constraints to continue into the third quarter. HP is outperforming its printing peers and remain uniquely well positioned given our leadership across both consumer and commercial print.
Our strong consumer business is a clear competitive advantage as hybrid work and school becomes the norm.
We have seen that people who didn't have home printers went and bought them and people sign up for Instant Ink in record numbers, accelerating and already growing part of our business. In Instant Ink, we added 1 million new subscribers surprising 9 million enrollees in the first quarter. Commercial print improved in Q1 with most product categories showing sequential revenue growth. In Q4, total print market units grew 6%.
We continue to expect a gradual recovery in the overall commercial print market though the price might be an even given the very ink pace of economic recovery. And we expect that the strength in consumer will gradually subside as more schools and offices reopen.
We continue to execute on our strategy to modernize print and evolve our print business models. In Q1, we roll out our end-to-end platform strategy called HP Plus that combines convenient Instant Ink and HP Markup Services with innovative hardware. It's early days but we are already seeing positive adoption. In the coming quarters we will be rolling HP Plus out more broadly across multiple markets and product lines.
New value propositions like HP Plus are indicative of the opportunities ahead as we continue to innovate to meet evolving customer needs. This also applies to our contractual businesses such as managed print services. Where we see attractive opportunities to deliver services, designed for the hybrid workforce of the future. One example is our HP Flex worker service. This service can be added to a company existing MPS contract to help remote workers maintain their productivity. This means being able to seamlessly print, scan and copies securely all while working from home. With leadership in both consumer and commercial and a strong track record of innovation HP is positioned to define and lead the future of printing in a post pandemic world. In city printing and industrial graphics, we continue to innovate across the portfolio to position ourselves for future growth. Customers continue to use Multi Jet fusion for production grade output and we are seeing more than 30% growth in the number of 3D printed parts across our customer base.
We are also seeing strong early traction in our new molded fiber business that leverages our 3D printing technology to create an end-to-end service for quick customized and environmentally sustainable packaging. In industrial printing we continue to see growth in digital labels and packaging with double-digit growth in impressions and square meters printed. Georgia Pacific one of the world's largest packaging and paper goods providers is deploying their third Inkjet web press to expand their digital printing business. This is a great milestone and validation of our technology.
We are excited for the disruptive potential in this sector as our innovative technology opens up entirely new possibilities in personalization and digital manufacturing.
We are doing all this while continuing to transform the company to unlock value and become a leaner more digitally enabled company.
Our transformation journey continues to be ahead of plan.
We have significantly reduced structural costs and driven productivity savings. At the same time we are enabling enhanced digitization and we are shifting investments to attractive growth areas where we see opportunities for us to continue driving innovation and long-term sustainable growth.
We are focused on both reducing structural costs and accelerating investments for the future. Recently, we announced several new appointments to further strengthen HP's innovation capabilities and support its long-term growth strategy. Savi Baveja joined as our Chief Strategy and Incubation Officer and Tolga Kurtoglu had joined HP as Chief Technology Officer. In this role they will drive cutting-edge research and incubate new business opportunities working together with the leadership team. And last week, we named Marie Myers as our Chief Financial Officer. Marie is a veteran of HP, having held a number of leadership positions at the company, including as our Controller and most recently as our Chief Transformation Officer. Marie and I have worked together for many years and she's a truly outstanding leader. I know you will all enjoy getting to know her better. Overall, I am very pleased with the way we have started the year. We built on our momentum from the end of 2020 and our teams are performing at a very high level. And on top of delivering strong results, we are also staying true to HP's values. Last quarter, HP was recognized by Newsweek as America's most responsible company for the second straight year. And we appear on the Barron's list of 100 most sustainable companies for the third straight year. In December, we were named one of the 10 best managed companies by the Wall Street Journal. This accolade simply means that we continue to ensure that making a sustainable impact remains an integrated part of our business strategy.
Let me close by saying Q1 was a strong quarter that increases our confidence about the opportunities ahead.
We have a diverse and resilient business model.
We are leading in our core Print and Personal Systems market, while taking the steps necessary to create and scale new businesses for the future. And our strong cash flow generation provides us flexibility to return significant capital to shareholders and reinvest in businesses, while also exploring disciplined M&A. We believe this is a time when strong successful companies like HP can get stronger.
We are not running our business to achieve incremental improvements.
We are driving a much bolder transformation agenda that will expand our portfolio, fuel innovation and unlock attractive new sources of long-term growth and value creation. That is our ambition. With that I will turn the call over to Marie who will take you through the details of the quarter and our fiscal year outlook. Marie, over to you.