| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.9B | $3.9B | — | -0.2% | — |
| Op. Income | $386M | $513M | — | -24.8% | — |
| Gross Margin | 48.0% | 49.5% | — | -1.5pp | — |
| Net Margin | 8.3% | 10.1% | — | -1.8pp | — |
| EPS (Diluted) | $0.95 | $1.18 | — | -19.5% | — |
| Free Cash Flow | -$239M | -$282M | — | 15.2% | — |
| Item | Amount |
|---|---|
| REVENUE | $3.9B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $191M |
| General & Administrative | $323M |
| SG&A Expenses | $514M |
| Other Expenses | $992M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.6B |
| OPERATING INCOME | $386M |
| Interest Income | $3.4B |
| Interest Expense | $1.6B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $386M |
| Income Tax Expense | $59M |
| Net Income from Continuing Ops | $327M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $327M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $300M |
| D&A | $482M |
| EBIT | $386M |
| EBITDA | $868M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $3.9B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $191M |
| General & Administrative | $323M |
| SG&A Expenses | $514M |
| Other Expenses | $992M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.6B |
| OPERATING INCOME | $386M |
| Interest Income | $3.4B |
| Interest Expense | $1.6B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $386M |
| Income Tax Expense | $59M |
| Net Income from Continuing Ops | $327M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $327M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $300M |
| D&A | $482M |
| EBIT | $386M |
| EBITDA | $868M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $327M |
| Depreciation & Amortization | $256M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $1.3B |
| Other Non-Cash Items | -$865M |
| Change in Working Capital | -$383M |
| OPERATING CASH FLOW | $652M |
| Capital Expenditure | -$891M |
| Acquisitions (Net) | $475M |
| Purchases of Investments | -$898M |
| Sales/Maturities of Investments | $789M |
| Other Investing Activities | -$3.9B |
| NET CASH FROM INVESTING | -$4.5B |
| Net Debt Issuance | $1.1B |
| Common Stock Repurchased | -$23M |
| Common Dividends Paid | -$94M |
| Other Financing Activities | $3.0B |
| NET CASH FROM FINANCING | $4.0B |
| FREE CASH FLOW | -$239M |
| Net Change in Cash | -$11.6B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10.0B |
| Short-Term Investments | $0 |
| Net Receivables | $136.8B |
| Inventory | $0 |
| Other Current Assets | $549M |
| TOTAL CURRENT ASSETS | $147.4B |
| PP&E (Net) | $8.8B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $28.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $11.6B |
| TOTAL NON-CURRENT ASSETS | $48.6B |
| TOTAL ASSETS | $196.0B |
| Account Payables | $151.6B |
| Short-Term Debt | $4.7B |
| Deferred Revenue | $3.7B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $163.4B |
| Long-Term Debt | $17.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $17.1B |
| TOTAL LIABILITIES | $180.5B |
| Common Stock | $22.3B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $633M |
| Treasury Stock | -$6.9B |
| Accum. Other Comp. Income | -$2.8B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $15.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $15.5B |
| TOTAL LIABILITIES & EQUITY | $196.0B |
| Total Debt | $21.8B |
| Net Debt | $11.7B |
