| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11.2B | $11.0B | $12.1B | 1.4% | -7.5% |
| Op. Income | $2.0B | $1.9B | $1.8B | 4.7% | 11.5% |
| Gross Margin | 43.7% | 42.4% | 37.0% | 1.3pp | 6.7pp |
| Net Margin | 13.7% | 13.3% | 10.8% | 0.4pp | 2.9pp |
| EPS (Diluted) | $1.57 | $1.49 | $1.33 | 5.4% | 18.1% |
| Free Cash Flow | $4.1B | $488M | $8.8B | 735.2% | -53.6% |
| Item | Amount |
|---|---|
| REVENUE | $11.2B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $4.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $71M |
| General & Administrative | $1.7B |
| SG&A Expenses | $1.8B |
| Other Expenses | $1.1B |
| Operating Expenses | $2.9B |
| Cost & Expenses | $9.2B |
| OPERATING INCOME | $2.0B |
| Interest Income | $8.8B |
| Interest Expense | $5.9B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.0B |
| Income Tax Expense | $455M |
| Net Income from Continuing Ops | $1.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $210M |
| EBIT | $2.0B |
| EBITDA | $2.2B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $11.2B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $4.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $71M |
| General & Administrative | $1.7B |
| SG&A Expenses | $1.8B |
| Other Expenses | $1.1B |
| Operating Expenses | $2.9B |
| Cost & Expenses | $9.2B |
| OPERATING INCOME | $2.0B |
| Interest Income | $8.8B |
| Interest Expense | $5.9B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.0B |
| Income Tax Expense | $455M |
| Net Income from Continuing Ops | $1.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $210M |
| EBIT | $2.0B |
| EBITDA | $2.2B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.5B |
| Depreciation & Amortization | $210M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$110M |
| Other Non-Cash Items | $761M |
| Change in Working Capital | $1.9B |
| OPERATING CASH FLOW | $4.3B |
| Capital Expenditure | -$206M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$19.5B |
| Sales/Maturities of Investments | $20.5B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $761M |
| Net Debt Issuance | -$787M |
| Common Stock Repurchased | -$392M |
| Common Dividends Paid | -$721M |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$1.3B |
| FREE CASH FLOW | $4.1B |
| Net Change in Cash | $3.7B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40.3B |
| Short-Term Investments | $61.5B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $101.8B |
| PP&E (Net) | $2.4B |
| Goodwill | $4.0B |
| Intangible Assets | $2.1B |
| Long-Term Investments | $590.4B |
| Tax Assets | $682M |
| Other Non-Current Assets | $104.2B |
| TOTAL NON-CURRENT ASSETS | $703.7B |
| TOTAL ASSETS | $805.5B |
| Account Payables | $0 |
| Short-Term Debt | $171.8B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $436.7B |
| TOTAL CURRENT LIABILITIES | $608.6B |
| Long-Term Debt | $98.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $34M |
| Other Non-Current Liabilities | $53.0B |
| TOTAL NON-CURRENT LIABILITIES | $151.0B |
| TOTAL LIABILITIES | $759.6B |
| Common Stock | $12.3B |
| Additional Paid-In Capital | $128M |
| Retained Earnings | $26.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2.4B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $45.7B |
| Minority Interest | $202M |
| TOTAL EQUITY | $45.9B |
| TOTAL LIABILITIES & EQUITY | $805.5B |
| Total Debt | $269.8B |
| Net Debt | $229.5B |
