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.