Filing Flows › Hewlett Packard Enterprise (HPE) › Q3 FY26 › vs Q2 FY26
Hewlett Packard Enterprise (HPE) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Hewlett Packard Enterprise's revenue rose $1.5B (+14%) from $10.7B in Q2 FY26 to $12.2B in Q3 FY26. The biggest changes: Cloud & AI +$1.3B (+17%); Networking +$203M (+8%); Corporate Investments and Other −$3.0M (-1%). Operating margin 11.4% against 7.0% (+4.4 pts).
Hewlett Packard Enterprise, Q3 FY26: revenue $12.2B (+34% year over year), operating margin 11.4%, net earnings $1.5B, operating cash flow $1.6B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 11.4% | 7.0% | +4.4 pts |
| Net margin | 12.6% | 5.8% | +6.8 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Server Segment | $6.8B | $5.5B | $1.3B | +24% |
| Campus & Branch | $1.4B | $1.3B | $120M | +9% |
| Storage | $1.3B | $1.2B | $116M | +10% |
| Financial Services | $883M | $904M | −$21.0M | -2% |
| Routing | $788M | $775M | $13.0M | +2% |
| Data Center Networking | $382M | $320M | $62.0M | +19% |
| Security | $281M | $273M | $8.0M | +3% |
| Other | $102M | $174M | −$72.0M | -41% |
| Cloud & AI | $9.0B | $7.7B | $1.3B | +17% |
| Networking | $2.9B | $2.7B | $203M | +8% |
| Corporate Investments and Other | $278M | $281M | −$3.0M | -1% |
| Revenue | $12.2B | $10.7B | $1.5B | +14% |
| Other income, net | $369M | −$48.0M | $417M | — |
| Operating profit | $1.4B | $747M | $646M | +86% |
| Costs & expenses | $10.8B | $9.9B | $889M | +9% |
| Pre-tax earnings | $1.8B | $699M | $1.1B | +152% |
| Research & development | $1.2B | $922M | $236M | +26% |
| SG&A | $2.0B | $1.8B | $132M | +7% |
| Other operating costs | $7.7B | $7.2B | $521M | +7% |
| Net earnings | $1.5B | $624M | $916M | +147% |
| Income tax | $222M | $75.0M | $147M | +196% |
| Depreciation & amortization | $864M | $877M | −$13.0M | -1% |
| Share-based compensation | $165M | $218M | −$53.0M | -24% |
| Working capital & other | $928M | $309M | $619M | +200% |
| Operating cash flow | $1.6B | $1.4B | $231M | +16% |
Questions
How much did Hewlett Packard Enterprise's revenue grow quarter over quarter in Q3 FY26?
Hewlett Packard Enterprise's revenue rose $1.5B (+14%) from $10.7B in Q2 FY26 to $12.2B in Q3 FY26.
What drove Hewlett Packard Enterprise's revenue change in Q3 FY26?
Cloud & AI +$1.3B (+17%); Networking +$203M (+8%); Corporate Investments and Other −$3.0M (-1%).