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HP (HPQ) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Aug 27, 2026
HP (HPQ) reported revenue of $15.7B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +9% from the quarter before. Operating margin was 5.7%, net earnings $661M (4.2% of revenue).
HP, Q3 FY26: revenue $15.7B (+12% year over year), operating margin 5.7%, net earnings $661M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.7B | +9% | +13% |
| Gross profit | $2.9B | -2% | +3% |
| Operating profit | $892M | +46% | +25% |
| Net earnings | $661M | +47% | -13% |
| Operating cash flow | $1.7B | +87% | +4% |
| Free cash flow | $1.5B | +105% | +7% |
What changed
Revenue was $15.7B in Q3 FY26, up 13% year over year and up 9% from the previous quarter. Products was the largest line at 95% of revenue. Products added $1.7B year over year (up 13%), 98% of the total change.
Gross margin was 18.8%, down 1.7 points from Q3 FY25. Operating profit was $0.89B, a 5.7% margin (up 0.6 points year over year). Of the extra revenue versus Q3 FY25, 10% reached operating profit, above the 5% margin then. Operating expenses fell 4% while revenue rose 13%. Net earnings were $0.66B, down 13% year over year. The effective tax rate was 17.2%.
Operating cash flow was $1.7B (up 4% year over year), 262% of net earnings. Non-cash charges added back $0.24B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.73B. Capital expenditures of $0.19B left free cash flow of $1.5B.
Questions
What was HP's revenue in the third quarter fiscal 2026?
HP (HPQ) reported revenue of $15.7B for the third quarter fiscal 2026 (Q3 FY26), +13% from a year earlier and +9% from the quarter before.
Was HP profitable in the third quarter fiscal 2026?
Operating profit was $892M (5.7% of revenue) and net earnings $661M.
Source: HP 10-Q on SEC EDGAR.