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How Hewlett Packard Enterprise (HPE) makes money
Hewlett Packard Enterprise (HPE) made $12.2B of revenue in the third quarter fiscal 2026 (Q3 FY26), +34% from a year earlier. Cloud & AI brought in $9.0B (74%); Networking brought in $2.9B (24%); Corporate Investments and Other brought in $278M (2%). Of every dollar of revenue, 11¢ was left as operating profit, 13¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Cloud & AI | $9.0B | 74.0% | +17% | +25% |
| ↳ Server Segment | $6.8B | 55.4% | +24% | +35% |
| ↳ Storage | $1.3B | 10.6% | +10% | +10% |
| ↳ Financial Services | $883M | 7.2% | -2% | -0.3% |
| ↳ Other | $102M | 0.8% | -41% | -34% |
| Networking | $2.9B | 23.7% | +8% | +75% |
| ↳ Campus & Branch | $1.4B | 11.8% | +9% | +31% |
| ↳ Routing | $788M | 6.5% | +2% | +270% |
| ↳ Data Center Networking | $382M | 3.1% | +19% | +112% |
| ↳ Security | $281M | 2.3% | +3% | +76% |
| Corporate Investments and Other | $278M | 2.3% | -1% | +3% |
Where each dollar of revenue goes
| Line | Q3 FY26 | % of revenue |
|---|---|---|
| Revenue | $12.2B | 100.0% |
| Operating profit | $1.4B | 11.4% |
| Income tax | $222M | 1.8% |
| Net earnings | $1.5B | 12.6% |
| Operating cash flow | $1.6B | 13.4% |
| Free cash flow | $958M | 7.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 FY26 | $12.2B | +34% |
| Q2 FY26 | $10.7B | +40% |
| Q1 FY26 | $9.3B | +18% |
| Q4 FY25 | $9.7B | +14% |
| Q3 FY25 | $9.1B | +18% |
| Q2 FY25 | $7.6B | +6% |
| Q4 FY24 | $8.5B | +15% |
From Hewlett Packard Enterprise's 10-Q filed Sep 3, 2026 (on EDGAR).
Questions
How does Hewlett Packard Enterprise make money?
Hewlett Packard Enterprise (HPE) made $12.2B of revenue in the third quarter fiscal 2026 (Q3 FY26), +34% from a year earlier. Cloud & AI brought in $9.0B (74%); Networking brought in $2.9B (24%); Corporate Investments and Other brought in $278M (2%). Of every dollar of revenue, 11¢ was left as operating profit, 13¢ was left as net earnings.
What is Hewlett Packard Enterprise's biggest business?
Cloud & AI: $9.0B in the third quarter fiscal 2026, 74% of revenue, +25% from a year earlier.
What is Hewlett Packard Enterprise's profit margin?
Net earnings were $1.5B, 12.6% of revenue, in the third quarter fiscal 2026; the operating margin was 11.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.