| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11.3B | $11.2B | $11.8B | 1.6% | -4.2% |
| Op. Income | $2.0B | $2.0B | $1.8B | 2.7% | 16.0% |
| Gross Margin | 44.8% | 43.7% | 38.2% | 1.1pp | 6.6pp |
| Net Margin | 14.0% | 13.7% | 11.6% | 0.3pp | 2.4pp |
| EPS (Diluted) | $1.61 | $1.57 | $1.40 | 2.3% | 15.2% |
| Free Cash Flow | -$13.0B | $4.1B | -$903M | -419.5% | -1342.2% |
| Item | Amount |
|---|---|
| REVENUE | $11.3B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $5.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $88M |
| General & Administrative | $1.7B |
| SG&A Expenses | $1.8B |
| Other Expenses | $1.2B |
| Operating Expenses | $3.0B |
| Cost & Expenses | $9.3B |
| OPERATING INCOME | $2.0B |
| Interest Income | $8.8B |
| Interest Expense | $5.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.0B |
| Income Tax Expense | $447M |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $237M |
| EBIT | $2.0B |
| EBITDA | $2.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $11.3B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $5.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $88M |
| General & Administrative | $1.7B |
| SG&A Expenses | $1.8B |
| Other Expenses | $1.2B |
| Operating Expenses | $3.0B |
| Cost & Expenses | $9.3B |
| OPERATING INCOME | $2.0B |
| Interest Income | $8.8B |
| Interest Expense | $5.8B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.0B |
| Income Tax Expense | $447M |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $237M |
| EBIT | $2.0B |
| EBITDA | $2.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.6B |
| Depreciation & Amortization | $237M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$88M |
| Other Non-Cash Items | -$9.3B |
| Change in Working Capital | -$5.1B |
| OPERATING CASH FLOW | -$12.7B |
| Capital Expenditure | -$284M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$22.1B |
| Sales/Maturities of Investments | $21.9B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$525M |
| Net Debt Issuance | -$54M |
| Common Stock Repurchased | -$835M |
| Common Dividends Paid | -$743M |
| Other Financing Activities | $9.6B |
| NET CASH FROM FINANCING | $8.3B |
| FREE CASH FLOW | -$13.0B |
| Net Change in Cash | -$4.9B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40.7B |
| Short-Term Investments | $27.1B |
| Net Receivables | $12.4B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $80.6B |
| PP&E (Net) | $2.5B |
| Goodwill | $4.0B |
| Intangible Assets | $2.1B |
| Long-Term Investments | $639.3B |
| Tax Assets | $751M |
| Other Non-Current Assets | $86.9B |
| TOTAL NON-CURRENT ASSETS | $735.6B |
| TOTAL ASSETS | $816.2B |
| Account Payables | $10.2B |
| Short-Term Debt | $157.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $449.0B |
| TOTAL CURRENT LIABILITIES | $620.0B |
| Long-Term Debt | $102.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $34M |
| Other Non-Current Liabilities | $46.1B |
| TOTAL NON-CURRENT LIABILITIES | $149.1B |
| TOTAL LIABILITIES | $769.2B |
| Common Stock | $12.6B |
| Additional Paid-In Capital | $165M |
| Retained Earnings | $26.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6.3B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $46.9B |
| Minority Interest | $208M |
| TOTAL EQUITY | $47.1B |
| TOTAL LIABILITIES & EQUITY | $816.2B |
| Total Debt | $260.0B |
| Net Debt | $219.3B |
