Hewlett Packard Enterprise Company Q2 2026 Earnings Recap

Shares surged 30.5% following a quarter that materially outpaced expectations on revenue, earnings, backlog, and demand strength, driven by broad-based growth and accelerated customer investments in AI-related infrastructure.

Key Takeaways

• Revenue rose 40% year-over-year to $10.7 billion, reflecting strong demand and successful integrations.
• Non-GAAP EPS more than doubled, reaching $0.79, significantly above guidance.
• Free cash flow improved by $1.8 billion to $915 million, driven by operational efficiency and working capital improvements.
• Orders more than doubled, building a record backlog and signaling durable demand momentum.
• Strong performance across networking, including double-digit revenue growth and notable wins in AI-related campus and branch networking, as well as security segments.