Filing Flows › HP (HPQ) › Q3 FY26 › vs Q3 FY25
HP (HPQ) Q3 FY26 vs Q3 FY25 (year over year)
HP's revenue rose $1.7B (+13%) from $13.9B in Q3 FY25 to $15.7B in Q3 FY26. The biggest changes: Products +$1.7B (+13%); Services +$34.0M (+4%). Gross margin 18.8% against 20.5% (-1.7 pts).
HP, Q3 FY26: revenue $15.7B (+12% year over year), operating margin 5.7%, net earnings $661M, operating cash flow $1.7B. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 18.8% | 20.5% | -1.7 pts |
| Operating margin | 5.7% | 5.1% | +0.6 pts |
| Net margin | 4.2% | 5.5% | -1.3 pts |
| Free cash flow margin | 9.9% | 10.4% | -0.5 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Products | $14.8B | $13.1B | $1.7B | +13% |
| Services | $852M | $818M | $34.0M | +4% |
| Revenue | $15.7B | $13.9B | $1.7B | +13% |
| Gross profit | $2.9B | $2.9B | $94.0M | +3% |
| Cost of revenue | $12.7B | $11.1B | $1.7B | +15% |
| Operating profit | $892M | $716M | $176M | +25% |
| Operating expenses | $2.1B | $2.1B | −$82.0M | -4% |
| Pre-tax earnings | $798M | $624M | $174M | +28% |
| Other expense, net | $94.0M | $92.0M | $2.0M | +2% |
| Research & development | $389M | $406M | −$17.0M | -4% |
| SG&A | $1.5B | $1.5B | $85.0M | +6% |
| Other operating costs | $127M | $277M | −$150M | -54% |
| Net earnings | $661M | $763M | −$102M | -13% |
| Income tax | $137M | −$139M | $276M | — |
| Depreciation & amortization | $244M | $306M | −$62.0M | -20% |
| Share-based compensation | $95.0M | $100M | −$5.0M | -5% |
| Working capital & other | $735M | $492M | $243M | +49% |
| Operating cash flow | $1.7B | $1.7B | $74.0M | +4% |
| Free cash flow (OCF − capex) | $1.5B | $1.4B | $102M | +7% |
| Capital expenditures | $187M | $215M | −$28.0M | -13% |
Questions
How much did HP's revenue grow year over year in Q3 FY26?
HP's revenue rose $1.7B (+13%) from $13.9B in Q3 FY25 to $15.7B in Q3 FY26.
What drove HP's revenue change in Q3 FY26?
Products +$1.7B (+13%); Services +$34.0M (+4%).