Depends on which variety you have. Did it come with a tag telling you it is?
If it's the typical type sold in a grocery store in a pot, I would not count on it.
Mine are blooming nicely from last year.
My mother's florist hydrangea was planted on Mother's day six years ago. This is the first year it has bloomed because they are so sensitive to cold weather. In other years the plant froze to the ground and came back from the roots, therefore no flowers.