Q1 2017 Earnings

Reported March 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q1 2017	Q4 2016	Q1 2016	QoQ Change	YoY Change
Revenue	$15.2B	$15.5B	$12.8B	-1.9%	18.5%
Op. Income	$1.7B	$1.5B	$1.6B	17.9%	8.3%
Gross Margin	36.0%	88.6%	36.2%	-52.6pp	-0.2pp
Net Margin	13.6%	-2.2%	2.2%	15.8pp	11.4pp
EPS (Diluted)	$0.63	$-0.11	$0.08	701.1%	685.7%

Revenue Flow

Item	Amount
REVENUE	$15.2B
Cost of Revenue	$9.7B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$2.6B
General & Administrative	$1.0B
SG&A Expenses	$3.6B
Other Expenses	$99M
Operating Expenses	$3.7B
Cost & Expenses	$13.4B
OPERATING INCOME	$1.7B
Interest Income	$41M
Interest Expense	$558M
Other Income/Expenses	$1.7B
INCOME BEFORE TAX	$3.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$2.4B
EBIT	$1.7B
EBITDA	$4.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$15.2B
Cost of Revenue	$9.7B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$2.6B
General & Administrative	$1.0B
SG&A Expenses	$3.6B
Other Expenses	$99M
Operating Expenses	$3.7B
Cost & Expenses	$13.4B
OPERATING INCOME	$1.7B
Interest Income	$41M
Interest Expense	$558M
Other Income/Expenses	$1.7B
INCOME BEFORE TAX	$3.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$2.4B
EBIT	$1.7B
EBITDA	$4.1B
EPS	$1
EPS Diluted	$1

Balance Sheet

Item	Amount
Cash & Equivalents	$687M
Short-Term Investments	$2.9B
Net Receivables	$7.3B
Inventory	$1.7B
Other Current Assets	$5.0B
TOTAL CURRENT ASSETS	$17.7B
PP&E (Net)	$37.3B
Goodwill	$8.6B
Intangible Assets	$8.0B
Long-Term Investments	$188M
Tax Assets	$0
Other Non-Current Assets	$9.3B
TOTAL NON-CURRENT ASSETS	$63.4B
TOTAL ASSETS	$81.1B
Account Payables	$5.0B
Short-Term Debt	$4.0B
Deferred Revenue	$0
Other Current Liabilities	$8.3B
TOTAL CURRENT LIABILITIES	$23.7B
Long-Term Debt	$33.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$8.6B
TOTAL NON-CURRENT LIABILITIES	$41.8B
TOTAL LIABILITIES	$65.5B
Common Stock	$5.5B
Additional Paid-In Capital	$0
Retained Earnings	$11.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$4.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.2B
Minority Interest	$3.5B
TOTAL EQUITY	$15.7B
TOTAL LIABILITIES & EQUITY	$81.1B
Total Debt	$37.2B
Net Debt	$36.5B