| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.9B | $4.8B | $5.5B | 2.1% | -10.9% |
| Op. Income | $1.6B | $2.0B | $2.1B | -19.7% | -25.0% |
| Gross Margin | 59.9% | 43.9% | 46.0% | 16.0pp | 13.9pp |
| Net Margin | 28.2% | 34.2% | 34.6% | -6.0pp | -6.4pp |
| EPS (Diluted) | $2.59 | $3.08 | $3.42 | -15.9% | -24.3% |
| Free Cash Flow | $315M | $1.3B | $333M | -74.8% | -5.4% |
| Item | Amount |
|---|---|
| REVENUE | $4.9B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $2.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $246M |
| General & Administrative | $866M |
| SG&A Expenses | $1.1B |
| Other Expenses | $219M |
| Operating Expenses | $1.3B |
| Cost & Expenses | $3.3B |
| OPERATING INCOME | $1.6B |
| Interest Income | $973M |
| Interest Expense | $61M |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $1.6B |
| Income Tax Expense | $193M |
| Net Income from Continuing Ops | $1.4B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.4B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.4B |
| D&A | $250M |
| EBIT | $1.6B |
| EBITDA | $1.9B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $4.9B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $2.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $246M |
| General & Administrative | $866M |
| SG&A Expenses | $1.1B |
| Other Expenses | $219M |
| Operating Expenses | $1.3B |
| Cost & Expenses | $3.3B |
| OPERATING INCOME | $1.6B |
| Interest Income | $973M |
| Interest Expense | $61M |
| Other Income/Expenses | -$30M |
| INCOME BEFORE TAX | $1.6B |
| Income Tax Expense | $193M |
| Net Income from Continuing Ops | $1.4B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.4B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.4B |
| D&A | $250M |
| EBIT | $1.6B |
| EBITDA | $1.9B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $1.4B |
| Depreciation & Amortization | -$1.3B |
| Stock-Based Compensation | -$21M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $831M |
| Change in Working Capital | -$566M |
| OPERATING CASH FLOW | $315M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$18.9B |
| Sales/Maturities of Investments | -$9.2B |
| Other Investing Activities | $28.4B |
| NET CASH FROM INVESTING | $359M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$801M |
| Common Dividends Paid | -$292M |
| Other Financing Activities | -$94M |
| NET CASH FROM FINANCING | -$1.2B |
| FREE CASH FLOW | $315M |
| Net Change in Cash | -$523M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6.2B |
| Short-Term Investments | $0 |
| Net Receivables | $835M |
| Inventory | $0 |
| Other Current Assets | $718M |
| TOTAL CURRENT ASSETS | $7.8B |
| PP&E (Net) | $351M |
| Goodwill | $0 |
| Intangible Assets | $9.0B |
| Long-Term Investments | $97.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.8B |
| TOTAL NON-CURRENT ASSETS | $108.7B |
| TOTAL ASSETS | $116.5B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $8.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.4B |
| Other Non-Current Liabilities | $77.2B |
| TOTAL NON-CURRENT LIABILITIES | $87.0B |
| TOTAL LIABILITIES | $87.0B |
| Common Stock | $136M |
| Additional Paid-In Capital | $3.0B |
| Retained Earnings | $54.7B |
| Treasury Stock | -$29.8B |
| Accum. Other Comp. Income | $1.5B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $29.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $29.5B |
| TOTAL LIABILITIES & EQUITY | $116.5B |
| Total Debt | $8.4B |
| Net Debt | $2.2B |
