| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14.0B | $14.1B | $15.0B | -0.3% | -6.2% |
| Op. Income | $2.3B | $1.9B | $1.8B | 18.4% | 26.1% |
| Gross Margin | 42.5% | 39.6% | 35.4% | 2.8pp | 7.0pp |
| Net Margin | 12.1% | 10.2% | 9.1% | 1.9pp | 3.0pp |
| EPS (Diluted) | $2.29 | $1.83 | $1.81 | 25.6% | 26.6% |
| Free Cash Flow | -$3.4B | -$2.7B | $1.2B | -27.0% | -385.9% |
| Item | Amount |
|---|---|
| REVENUE | $14.0B |
| Cost of Revenue | $8.1B |
| GROSS PROFIT | $6.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $145M |
| General & Administrative | $2.2B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.4B |
| Operating Expenses | $3.7B |
| Cost & Expenses | $11.8B |
| OPERATING INCOME | $2.3B |
| Interest Income | $11.5B |
| Interest Expense | $7.5B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.3B |
| Income Tax Expense | $552M |
| Net Income from Continuing Ops | $1.7B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.7B |
| D&A | $390M |
| EBIT | $2.3B |
| EBITDA | $2.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $14.0B |
| Cost of Revenue | $8.1B |
| GROSS PROFIT | $6.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $145M |
| General & Administrative | $2.2B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.4B |
| Operating Expenses | $3.7B |
| Cost & Expenses | $11.8B |
| OPERATING INCOME | $2.3B |
| Interest Income | $11.5B |
| Interest Expense | $7.5B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.3B |
| Income Tax Expense | $552M |
| Net Income from Continuing Ops | $1.7B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.7B |
| D&A | $390M |
| EBIT | $2.3B |
| EBITDA | $2.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.7B |
| Depreciation & Amortization | $390M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$56M |
| Other Non-Cash Items | $514M |
| Change in Working Capital | -$5.6B |
| OPERATING CASH FLOW | -$3.1B |
| Capital Expenditure | -$296M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$9.2B |
| Sales/Maturities of Investments | $10.1B |
| Other Investing Activities | -$715M |
| NET CASH FROM INVESTING | -$83M |
| Net Debt Issuance | -$985M |
| Common Stock Repurchased | -$650M |
| Common Dividends Paid | -$945M |
| Other Financing Activities | -$368M |
| NET CASH FROM FINANCING | -$1.9B |
| FREE CASH FLOW | -$3.4B |
| Net Change in Cash | -$5.0B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $45.9B |
| Short-Term Investments | $77.8B |
| Net Receivables | $32.7B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $156.3B |
| PP&E (Net) | $4.5B |
| Goodwill | $12.2B |
| Intangible Assets | $3.5B |
| Long-Term Investments | $616.6B |
| Tax Assets | $2.0B |
| Other Non-Current Assets | $251.0B |
| TOTAL NON-CURRENT ASSETS | $889.8B |
| TOTAL ASSETS | $1.0T |
| Account Payables | $33.9B |
| Short-Term Debt | $171.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $582.8B |
| TOTAL CURRENT LIABILITIES | $788.7B |
| Long-Term Debt | $116.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $78.1B |
| TOTAL NON-CURRENT LIABILITIES | $194.1B |
| TOTAL LIABILITIES | $982.7B |
| Common Stock | $17.2B |
| Additional Paid-In Capital | $269M |
| Retained Earnings | $34.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4.5B |
| Other Equity | $5.4B |
| TOTAL STOCKHOLDERS' EQUITY | $63.4B |
| Minority Interest | $31M |
| TOTAL EQUITY | $63.4B |
| TOTAL LIABILITIES & EQUITY | $1.0T |
| Total Debt | $287.9B |
| Net Debt | $242.0B |
