| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14.1B | $14.0B | $14.4B | 0.5% | -2.4% |
| Op. Income | $2.2B | $2.3B | $2.2B | -1.8% | 0.8% |
| Gross Margin | 44.1% | 42.5% | 34.4% | 1.7pp | 9.7pp |
| Net Margin | 11.9% | 12.1% | 11.7% | -0.3pp | 0.2pp |
| EPS (Diluted) | $2.15 | $2.29 | $2.16 | -6.4% | -0.3% |
| Free Cash Flow | $9.0B | -$3.4B | $3.1B | 366.1% | 187.0% |
| Item | Amount |
|---|---|
| REVENUE | $14.1B |
| Cost of Revenue | $7.9B |
| GROSS PROFIT | $6.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $164M |
| General & Administrative | $2.2B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.7B |
| Operating Expenses | $4.0B |
| Cost & Expenses | $11.9B |
| OPERATING INCOME | $2.2B |
| Interest Income | $11.3B |
| Interest Expense | $7.3B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $537M |
| 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 | $1.6B |
| D&A | $408M |
| EBIT | $2.2B |
| EBITDA | $2.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $14.1B |
| Cost of Revenue | $7.9B |
| GROSS PROFIT | $6.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $164M |
| General & Administrative | $2.2B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.7B |
| Operating Expenses | $4.0B |
| Cost & Expenses | $11.9B |
| OPERATING INCOME | $2.2B |
| Interest Income | $11.3B |
| Interest Expense | $7.3B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $537M |
| 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 | $1.6B |
| D&A | $408M |
| EBIT | $2.2B |
| EBITDA | $2.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.7B |
| Depreciation & Amortization | $408M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$107M |
| Other Non-Cash Items | $538M |
| Change in Working Capital | $6.8B |
| OPERATING CASH FLOW | $9.3B |
| Capital Expenditure | -$365M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$22.5B |
| Sales/Maturities of Investments | $20.3B |
| Other Investing Activities | $1.0B |
| NET CASH FROM INVESTING | -$1.5B |
| Net Debt Issuance | -$62M |
| Common Stock Repurchased | -$1.0B |
| Common Dividends Paid | -$900M |
| Other Financing Activities | $200M |
| NET CASH FROM FINANCING | -$1.9B |
| FREE CASH FLOW | $9.0B |
| Net Change in Cash | $6.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51.4B |
| Short-Term Investments | $24.7B |
| Net Receivables | $39.6B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $115.7B |
| PP&E (Net) | $4.6B |
| Goodwill | $12.3B |
| Intangible Assets | $3.5B |
| Long-Term Investments | $692.1B |
| Tax Assets | $2.0B |
| Other Non-Current Assets | $249.1B |
| TOTAL NON-CURRENT ASSETS | $963.5B |
| TOTAL ASSETS | $1.1T |
| Account Payables | $46.0B |
| Short-Term Debt | $181.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $595.0B |
| TOTAL CURRENT LIABILITIES | $822.4B |
| Long-Term Debt | $119.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $730.8K |
| Other Non-Current Liabilities | $70.4B |
| TOTAL NON-CURRENT LIABILITIES | $192.4B |
| TOTAL LIABILITIES | $1.0T |
| Common Stock | $17.1B |
| Additional Paid-In Capital | $273M |
| Retained Earnings | $34.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $5.8B |
| Other Equity | $5.4B |
| TOTAL STOCKHOLDERS' EQUITY | $64.3B |
| Minority Interest | $36M |
| TOTAL EQUITY | $64.4B |
| TOTAL LIABILITIES & EQUITY | $1.1T |
| Total Debt | $303.4B |
| Net Debt | $252.0B |
