| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12.6B | — | $13.9B | — | -9.7% |
| Op. Income | $2.3B | — | $1.3B | — | 82.0% |
| Gross Margin | 48.1% | — | 42.5% | — | 5.6pp |
| Net Margin | 13.3% | — | 6.0% | — | 7.3pp |
| EPS (Diluted) | $1.26 | — | $0.48 | — | 162.1% |
| Free Cash Flow | -$6.8B | — | $3.5B | — | -296.8% |
| Item | Amount |
|---|---|
| REVENUE | $12.6B |
| Cost of Revenue | $6.5B |
| GROSS PROFIT | $6.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $135M |
| General & Administrative | $2.1B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.6B |
| Operating Expenses | $3.9B |
| Cost & Expenses | $10.4B |
| OPERATING INCOME | $2.3B |
| Interest Income | $9.8B |
| Interest Expense | $5.7B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $637M |
| Net Income from Continuing Ops | $1.7B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $138M |
| NET INCOME | $1.7B |
| Net Income Deductions | $7M |
| BOTTOM LINE NET INCOME | $1.6B |
| D&A | $282M |
| EBIT | $2.2B |
| EBITDA | $2.5B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $12.6B |
| Cost of Revenue | $6.5B |
| GROSS PROFIT | $6.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $135M |
| General & Administrative | $2.1B |
| SG&A Expenses | $2.3B |
| Other Expenses | $1.6B |
| Operating Expenses | $3.9B |
| Cost & Expenses | $10.4B |
| OPERATING INCOME | $2.3B |
| Interest Income | $9.8B |
| Interest Expense | $5.7B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.2B |
| Income Tax Expense | $637M |
| Net Income from Continuing Ops | $1.7B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $138M |
| NET INCOME | $1.7B |
| Net Income Deductions | $7M |
| BOTTOM LINE NET INCOME | $1.6B |
| D&A | $282M |
| EBIT | $2.2B |
| EBITDA | $2.5B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $1.7B |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $989M |
| Change in Working Capital | -$9.3B |
| OPERATING CASH FLOW | -$6.6B |
| Capital Expenditure | -$169M |
| Acquisitions (Net) | -$907M |
| Purchases of Investments | -$30.9B |
| Sales/Maturities of Investments | $13.3B |
| Other Investing Activities | -$11.6B |
| NET CASH FROM INVESTING | -$30.3B |
| Net Debt Issuance | $13.3B |
| Common Stock Repurchased | -$355M |
| Common Dividends Paid | -$1.1B |
| Other Financing Activities | $23.9B |
| NET CASH FROM FINANCING | $35.9B |
| FREE CASH FLOW | -$6.8B |
| Net Change in Cash | -$1.1B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6.4B |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6.4B |
| PP&E (Net) | $3.9B |
| Goodwill | $0 |
| Intangible Assets | $11.8B |
| Long-Term Investments | $1.0T |
| Tax Assets | $2.4B |
| Other Non-Current Assets | $26.5B |
| TOTAL NON-CURRENT ASSETS | $1.1T |
| TOTAL ASSETS | $1.1T |
| Account Payables | $0 |
| Short-Term Debt | $156.6B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $156.6B |
| Long-Term Debt | $30.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $828.0B |
| TOTAL NON-CURRENT LIABILITIES | $858.6B |
| TOTAL LIABILITIES | $1.0T |
| Common Stock | $16.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $43.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2.7B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $64.1B |
| Minority Interest | $1.0B |
| TOTAL EQUITY | $65.2B |
| TOTAL LIABILITIES & EQUITY | $1.1T |
| Total Debt | $187.1B |
| Net Debt | $180.7B |
