| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $43.8B | $42.4B | $43.4B | 3.5% | 1.1% |
| Op. Income | $5.3B | $5.2B | $4.4B | 2.5% | 21.9% |
| Gross Margin | 44.8% | 44.4% | 40.7% | 0.4pp | 4.1pp |
| Net Margin | 8.6% | 9.5% | 7.5% | -0.9pp | 1.1pp |
| EPS (Diluted) | $1.86 | $1.96 | $1.51 | -5.1% | 23.2% |
| Free Cash Flow | -$517M | -$38.3B | -$18.2B | 98.7% | 97.2% |
| Item | Amount |
|---|---|
| REVENUE | $43.8B |
| Cost of Revenue | $24.2B |
| GROSS PROFIT | $19.6B |
| R&D Expenses | $2.3B |
| Selling & Marketing | $260M |
| General & Administrative | $9.7B |
| SG&A Expenses | $10.0B |
| Other Expenses | $2.0B |
| Operating Expenses | $14.3B |
| Cost & Expenses | $38.5B |
| OPERATING INCOME | $5.3B |
| Interest Income | $36.7B |
| Interest Expense | $21.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5.3B |
| Income Tax Expense | $1.6B |
| Net Income from Continuing Ops | $3.8B |
| Net Income from Discontinued Ops | -$1M |
| Other Adjustments | $0 |
| NET INCOME | $3.8B |
| Net Income Deductions | $20M |
| BOTTOM LINE NET INCOME | $3.5B |
| D&A | $1.1B |
| EBIT | $5.3B |
| EBITDA | $6.5B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $43.8B |
| Cost of Revenue | $24.2B |
| GROSS PROFIT | $19.6B |
| R&D Expenses | $2.3B |
| Selling & Marketing | $260M |
| General & Administrative | $9.7B |
| SG&A Expenses | $10.0B |
| Other Expenses | $2.0B |
| Operating Expenses | $14.3B |
| Cost & Expenses | $38.5B |
| OPERATING INCOME | $5.3B |
| Interest Income | $36.7B |
| Interest Expense | $21.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5.3B |
| Income Tax Expense | $1.6B |
| Net Income from Continuing Ops | $3.8B |
| Net Income from Discontinued Ops | -$1M |
| Other Adjustments | $0 |
| NET INCOME | $3.8B |
| Net Income Deductions | $20M |
| BOTTOM LINE NET INCOME | $3.5B |
| D&A | $1.1B |
| EBIT | $5.3B |
| EBITDA | $6.5B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $3.8B |
| Depreciation & Amortization | $1.1B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | $4.0B |
| Change in Working Capital | -$7.8B |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | -$1.6B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$69.1B |
| Sales/Maturities of Investments | $67.8B |
| Other Investing Activities | -$7.0B |
| NET CASH FROM INVESTING | -$10.0B |
| Net Debt Issuance | -$3.6B |
| Common Stock Repurchased | -$5.0B |
| Common Dividends Paid | -$1.4B |
| Other Financing Activities | $28.0B |
| NET CASH FROM FINANCING | $20.7B |
| FREE CASH FLOW | -$517M |
| Net Change in Cash | $10.6B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $348.1B |
| Short-Term Investments | $324.5B |
| Net Receivables | $76.0B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $748.6B |
| PP&E (Net) | $32.8B |
| Goodwill | $19.1B |
| Intangible Assets | $4.3B |
| Long-Term Investments | $919.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $918.2B |
| TOTAL NON-CURRENT ASSETS | $1.9T |
| TOTAL ASSETS | $2.6T |
| Account Payables | $89.6B |
| Short-Term Debt | $404.4B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.5T |
| TOTAL CURRENT LIABILITIES | $2.0T |
| Long-Term Debt | $315.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $74.5B |
| TOTAL NON-CURRENT LIABILITIES | $390.3B |
| TOTAL LIABILITIES | $2.4T |
| Common Stock | $31M |
| Additional Paid-In Capital | $109.0B |
| Retained Earnings | $214.0B |
| Treasury Stock | -$84.9B |
| Accum. Other Comp. Income | -$44.2B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $213.0B |
| Minority Interest | $854M |
| TOTAL EQUITY | $213.9B |
| TOTAL LIABILITIES & EQUITY | $2.6T |
| Total Debt | $720.2B |
| Net Debt | $372.2B |
