| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14.4B | $12.6B | $14.3B | 14.7% | 0.4% |
| Op. Income | $1.1B | -$270M | $1.4B | 520.4% | -18.0% |
| Gross Margin | 23.7% | 15.0% | 24.3% | 8.8pp | -0.5pp |
| Net Margin | 4.2% | -3.8% | 5.0% | 7.9pp | -0.8pp |
| EPS (Diluted) | $0.91 | $-0.72 | $1.01 | 226.4% | -9.9% |
| Free Cash Flow | $464M | $1.6B | $477M | -71.6% | -2.7% |
| Item | Amount |
|---|---|
| REVENUE | $14.4B |
| Cost of Revenue | $11.0B |
| GROSS PROFIT | $3.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $535M |
| General & Administrative | $0 |
| SG&A Expenses | $535M |
| Other Expenses | $1.7B |
| Operating Expenses | $2.3B |
| Cost & Expenses | $13.3B |
| OPERATING INCOME | $1.1B |
| Interest Income | $100M |
| Interest Expense | $433M |
| Other Income/Expenses | -$297M |
| INCOME BEFORE TAX | $838M |
| Income Tax Expense | $239M |
| Net Income from Continuing Ops | $599M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $599M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $599M |
| D&A | $476M |
| EBIT | $1.3B |
| EBITDA | $1.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $14.4B |
| Cost of Revenue | $11.0B |
| GROSS PROFIT | $3.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $535M |
| General & Administrative | $0 |
| SG&A Expenses | $535M |
| Other Expenses | $1.7B |
| Operating Expenses | $2.3B |
| Cost & Expenses | $13.3B |
| OPERATING INCOME | $1.1B |
| Interest Income | $100M |
| Interest Expense | $433M |
| Other Income/Expenses | -$297M |
| INCOME BEFORE TAX | $838M |
| Income Tax Expense | $239M |
| Net Income from Continuing Ops | $599M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $599M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $599M |
| D&A | $476M |
| EBIT | $1.3B |
| EBITDA | $1.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $599M |
| Depreciation & Amortization | $476M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$112M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $963M |
| Capital Expenditure | -$499M |
| Acquisitions (Net) | $200M |
| Purchases of Investments | -$2.9B |
| Sales/Maturities of Investments | $1.6B |
| Other Investing Activities | $287M |
| NET CASH FROM INVESTING | -$1.3B |
| Net Debt Issuance | $331M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$20M |
| NET CASH FROM FINANCING | $311M |
| FREE CASH FLOW | $464M |
| Net Change in Cash | $851M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $833M |
| Short-Term Investments | $7.7B |
| Net Receivables | $2.1B |
| Inventory | $2.8B |
| Other Current Assets | $1.7B |
| TOTAL CURRENT ASSETS | $15.1B |
| PP&E (Net) | $38.7B |
| Goodwill | $4.1B |
| Intangible Assets | $2.0B |
| Long-Term Investments | $0 |
| Tax Assets | $2.4B |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $48.6B |
| TOTAL ASSETS | $63.7B |
| Account Payables | $3.1B |
| Short-Term Debt | $4.6B |
| Deferred Revenue | $11.9B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $25.8B |
| Long-Term Debt | $25.3B |
| Deferred Revenue NC | $6.8B |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $3.5B |
| TOTAL NON-CURRENT LIABILITIES | $41.8B |
| TOTAL LIABILITIES | $67.5B |
| Common Stock | $7M |
| Additional Paid-In Capital | $7.4B |
| Retained Earnings | -$6.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4.5B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$3.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$3.9B |
| TOTAL LIABILITIES & EQUITY | $63.7B |
| Total Debt | $37.2B |
| Net Debt | $36.4B |
