HPE Stock: Record Q3 Revenue, Raised Guidance and AI Backlog Hits All-Time High

TLDR

• HPE reported Q3 2026 revenue of $12.2 billion, up 34% year over year, beating analyst estimates
• Non-GAAP EPS of $1.11 beat consensus by over 18%, the first time adjusted EPS topped $1.00 in a single quarter
• Free cash flow hit $958 million, the highest Q3 cash generation in company history
• AI Systems revenue reached $1.6 billion with $2.4 billion in quarterly orders and an all-time high backlog
• HPE raised full-year 2026 revenue growth guidance to 34-37%, up from 29-33%

Hewlett Packard Enterprise stock jumped roughly 5% to $54.44 in the session after earnings before settling around $52.09 on September 5, 2026. The stock has gained approximately 114% year to date in 2026.

Hewlett Packard Enterprise Company, HPE

Q3 2026 revenue came in at $12.2 billion, up 34% from $9.1 billion a year earlier and above the analyst consensus of around $11.99 billion. Non-GAAP EPS of $1.11 beat estimates of $0.93 by roughly 18%.

Free cash flow reached $958 million in the quarter, the strongest Q3 figure in company history. Non-GAAP operating margin hit 16.2%, nearly double the 8.5% posted in the same quarter last year.

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