Hewlett Packard Enterprise (HPE) reported that its Financial Services net revenue in fiscal 2016 was $3,190 million, down 0.8% from $3,216 million in fiscal 2015.
HPE said the FS net revenue decrease in fiscal 2016 was due primarily to unfavorable currency fluctuations and lower asset management activity primarily as a result of lower fixed term renewals, partially offset by higher portfolio revenue due to an increase in average portfolio assets.
Total financing volume in fiscal 2016 of $6,478 million was down 0.4% from $6,504 for the previous fiscal year. The decrease was primarily driven by unfavorable currency fluctuations, partially offset primarily by higher financing associated with third-party product sales and related services offerings.
Net portfolio assets of $12.8 billion (including $3.3 billion of net operating leases) were up 4.6% from $12.3 billion at the end of the same fiscal period in 2015.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!