| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $49.7B | — | $42.0B | — | 18.2% |
| Op. Income | -$7.0B | — | $665M | — | -1145.7% |
| Gross Margin | 16.4% | — | 9.6% | — | 6.8pp |
| Net Margin | -13.3% | — | 1.7% | — | -15.0pp |
| EPS (Diluted) | $-13.50 | — | $1.36 | — | -1092.6% |
| Free Cash Flow | $1.1B | — | -$1.1B | — | 201.2% |
| Item | Amount |
|---|---|
| REVENUE | $49.7B |
| Cost of Revenue | $41.6B |
| GROSS PROFIT | $8.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3.1B |
| Other Expenses | $11.9B |
| Operating Expenses | $15.1B |
| Cost & Expenses | $56.6B |
| OPERATING INCOME | -$7.0B |
| Interest Income | $0 |
| Interest Expense | $170M |
| Other Income/Expenses | $280M |
| INCOME BEFORE TAX | -$6.7B |
| Income Tax Expense | -$42M |
| Net Income from Continuing Ops | -$6.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6.6B |
| D&A | $316M |
| EBIT | -$6.5B |
| EBITDA | -$6.2B |
| EPS | -$14 |
| EPS Diluted | -$14 |
| Item | Amount |
|---|---|
| Net Income | -$6.6B |
| Depreciation & Amortization | $317M |
| Stock-Based Compensation | $52M |
| Deferred Income Tax | $129M |
| Other Non-Cash Items | $9.0B |
| Change in Working Capital | -$1.6B |
| OPERATING CASH FLOW | $1.4B |
| Capital Expenditure | -$211M |
| Acquisitions (Net) | -$19M |
| Purchases of Investments | -$172M |
| Sales/Maturities of Investments | $1.6B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $1.2B |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | $1.1B |
| Net Change in Cash | $2.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17.1B |
| Short-Term Investments | $2.2B |
| Net Receivables | $23.1B |
| Inventory | $0 |
| Other Current Assets | $1.7B |
| TOTAL CURRENT ASSETS | $44.1B |
| PP&E (Net) | $2.2B |
| Goodwill | $10.8B |
| Intangible Assets | $4.8B |
| Long-Term Investments | $18.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.0B |
| TOTAL NON-CURRENT ASSETS | $38.0B |
| TOTAL ASSETS | $82.1B |
| Account Payables | $16.9B |
| Short-Term Debt | $38M |
| Deferred Revenue | $656M |
| Other Current Liabilities | $21.5B |
| TOTAL CURRENT LIABILITIES | $40.6B |
| Long-Term Debt | $17.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $810M |
| Other Non-Current Liabilities | $2.0B |
| TOTAL NON-CURRENT LIABILITIES | $20.4B |
| TOTAL LIABILITIES | $61.0B |
| Common Stock | $1M |
| Additional Paid-In Capital | $20.7B |
| Retained Earnings | $9.8B |
| Treasury Stock | -$9.4B |
| Accum. Other Comp. Income | -$100M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $20.9B |
| Minority Interest | $107M |
| TOTAL EQUITY | $21.1B |
| TOTAL LIABILITIES & EQUITY | $82.1B |
| Total Debt | $17.6B |
| Net Debt | $525M |
