| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6.3B | $9.0B | $5.5B | -29.5% | 16.0% |
| Op. Income | $2.0B | $3.9B | $1.7B | -48.5% | 17.4% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 0.0pp | 0.0pp |
| Net Margin | 22.5% | 30.5% | 19.5% | -8.0pp | 3.0pp |
| EPS (Diluted) | $1.75 | $3.38 | $1.28 | -48.2% | 36.9% |
| Free Cash Flow | $1.4B | $1.4B | $645M | 3.4% | 119.7% |
| Item | Amount |
|---|---|
| REVENUE | $6.3B |
| Cost of Revenue | $0 |
| GROSS PROFIT | $6.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $2.8B |
| General & Administrative | $1.1B |
| SG&A Expenses | $3.9B |
| Other Expenses | $428M |
| Operating Expenses | $4.3B |
| Cost & Expenses | $4.3B |
| OPERATING INCOME | $2.0B |
| Interest Income | $198M |
| Interest Expense | $249M |
| Other Income/Expenses | -$167M |
| INCOME BEFORE TAX | $1.9B |
| Income Tax Expense | $435M |
| 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 | $191M |
| EBIT | $2.1B |
| EBITDA | $2.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $6.3B |
| Cost of Revenue | $0 |
| GROSS PROFIT | $6.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $2.8B |
| General & Administrative | $1.1B |
| SG&A Expenses | $3.9B |
| Other Expenses | $428M |
| Operating Expenses | $4.3B |
| Cost & Expenses | $4.3B |
| OPERATING INCOME | $2.0B |
| Interest Income | $198M |
| Interest Expense | $249M |
| Other Income/Expenses | -$167M |
| INCOME BEFORE TAX | $1.9B |
| Income Tax Expense | $435M |
| 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 | $191M |
| EBIT | $2.1B |
| EBITDA | $2.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.4B |
| Depreciation & Amortization | $191M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$33M |
| Other Non-Cash Items | $353M |
| Change in Working Capital | -$449M |
| OPERATING CASH FLOW | $1.5B |
| Capital Expenditure | -$73M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$71M |
| Net Debt Issuance | $1.7B |
| Common Stock Repurchased | -$2.1B |
| Common Dividends Paid | -$307M |
| Other Financing Activities | $18M |
| NET CASH FROM FINANCING | -$667M |
| FREE CASH FLOW | $1.4B |
| Net Change in Cash | $694M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17.2B |
| Short-Term Investments | $582M |
| Net Receivables | $3.8B |
| Inventory | $0 |
| Other Current Assets | $48M |
| TOTAL CURRENT ASSETS | $22.3B |
| PP&E (Net) | $807M |
| Goodwill | $2.7B |
| Intangible Assets | $918M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.6B |
| TOTAL NON-CURRENT ASSETS | $7.0B |
| TOTAL ASSETS | $29.3B |
| Account Payables | $5.1B |
| Short-Term Debt | $1.9B |
| Deferred Revenue | $5.3B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $16.7B |
| Long-Term Debt | $16.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $17M |
| Other Non-Current Liabilities | $714M |
| TOTAL NON-CURRENT LIABILITIES | $18.1B |
| TOTAL LIABILITIES | $34.8B |
| Common Stock | $1M |
| Additional Paid-In Capital | $8.4B |
| Retained Earnings | $40.7B |
| Treasury Stock | -$54.3B |
| Accum. Other Comp. Income | -$290M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$5.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$5.6B |
| TOTAL LIABILITIES & EQUITY | $29.3B |
| Total Debt | $19.3B |
| Net Debt | $2.1B |
