| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $48.2B | $46.7B | $48.9B | 3.3% | -1.3% |
| Op. Income | $9.5B | $7.7B | $7.3B | 23.0% | 29.1% |
| Gross Margin | 55.6% | 53.3% | 48.7% | 2.3pp | 6.9pp |
| Net Margin | 17.6% | 15.2% | 14.1% | 2.3pp | 3.5pp |
| EPS (Diluted) | $1.06 | $0.89 | $0.81 | 19.1% | 30.9% |
| Free Cash Flow | $46.9B | -$9.1B | -$37.3B | 613.3% | 225.7% |
| Item | Amount |
|---|---|
| REVENUE | $48.2B |
| Cost of Revenue | $21.4B |
| GROSS PROFIT | $26.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $1.6B |
| General & Administrative | $11.4B |
| SG&A Expenses | $13.0B |
| Other Expenses | $4.3B |
| Operating Expenses | $17.3B |
| Cost & Expenses | $38.8B |
| OPERATING INCOME | $9.5B |
| Interest Income | $35.4B |
| Interest Expense | $20.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $9.5B |
| Income Tax Expense | $987M |
| Net Income from Continuing Ops | $8.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8.5B |
| Net Income Deductions | -$56M |
| BOTTOM LINE NET INCOME | $8.1B |
| D&A | $584M |
| EBIT | $9.5B |
| EBITDA | $10.0B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $48.2B |
| Cost of Revenue | $21.4B |
| GROSS PROFIT | $26.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $1.6B |
| General & Administrative | $11.4B |
| SG&A Expenses | $13.0B |
| Other Expenses | $4.3B |
| Operating Expenses | $17.3B |
| Cost & Expenses | $38.8B |
| OPERATING INCOME | $9.5B |
| Interest Income | $35.4B |
| Interest Expense | $20.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $9.5B |
| Income Tax Expense | $987M |
| Net Income from Continuing Ops | $8.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8.5B |
| Net Income Deductions | -$56M |
| BOTTOM LINE NET INCOME | $8.1B |
| D&A | $584M |
| EBIT | $9.5B |
| EBITDA | $10.0B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $8.5B |
| Depreciation & Amortization | $584M |
| Stock-Based Compensation | $1.0B |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | $2.3B |
| Change in Working Capital | $34.5B |
| OPERATING CASH FLOW | $46.9B |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$73.1B |
| Sales/Maturities of Investments | $68.1B |
| Other Investing Activities | $6.9B |
| NET CASH FROM INVESTING | $1.9B |
| Net Debt Issuance | $3.3B |
| Common Stock Repurchased | -$5.3B |
| Common Dividends Paid | -$2.5B |
| Other Financing Activities | -$66.0B |
| NET CASH FROM FINANCING | -$68.0B |
| FREE CASH FLOW | $46.9B |
| Net Change in Cash | -$19.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $246.5B |
| Short-Term Investments | $711.2B |
| Net Receivables | $116.1B |
| Inventory | $0 |
| Other Current Assets | -$16.2B |
| TOTAL CURRENT ASSETS | $1.1T |
| PP&E (Net) | $12.3B |
| Goodwill | $69.0B |
| Intangible Assets | $0 |
| Long-Term Investments | $2.1T |
| Tax Assets | $0 |
| Other Non-Current Assets | $168.8B |
| TOTAL NON-CURRENT ASSETS | $2.3T |
| TOTAL ASSETS | $3.4T |
| Account Payables | $0 |
| Short-Term Debt | $396.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.2T |
| TOTAL CURRENT LIABILITIES | $2.6T |
| Long-Term Debt | $311.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $231.6B |
| TOTAL NON-CURRENT LIABILITIES | $543.1B |
| TOTAL LIABILITIES | $3.1T |
| Common Stock | $31.8B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $258.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$11.7B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $304.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $304.2B |
| TOTAL LIABILITIES & EQUITY | $3.4T |
| Total Debt | $707.8B |
| Net Debt | $461.3B |
