| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15.9B | $16.0B | $14.0B | -0.9% | 12.9% |
| Op. Income | $501M | $1.5B | $569M | -65.8% | -12.0% |
| Gross Margin | 28.6% | 22.4% | 21.5% | 6.3pp | 7.2pp |
| Net Margin | -1.8% | 7.6% | 1.7% | -9.4pp | -3.5pp |
| EPS (Diluted) | $-0.44 | $1.86 | $0.37 | -123.7% | -218.9% |
| Free Cash Flow | $1.2B | $1.4B | $1.2B | -8.9% | 6.8% |
| Item | Amount |
|---|---|
| REVENUE | $15.9B |
| Cost of Revenue | $11.3B |
| GROSS PROFIT | $4.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $590M |
| General & Administrative | $0 |
| SG&A Expenses | $590M |
| Other Expenses | $3.4B |
| Operating Expenses | $4.0B |
| Cost & Expenses | $15.4B |
| OPERATING INCOME | $501M |
| Interest Income | $0 |
| Interest Expense | $151M |
| Other Income/Expenses | -$715M |
| INCOME BEFORE TAX | -$214M |
| Income Tax Expense | $75M |
| Net Income from Continuing Ops | -$289M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$289M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$289M |
| D&A | $635M |
| EBIT | $501M |
| EBITDA | $1.1B |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$289M |
| Depreciation & Amortization | $635M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2.1B |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $2.4B |
| Capital Expenditure | -$1.2B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$63M |
| NET CASH FROM INVESTING | -$1.3B |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$306M |
| NET CASH FROM FINANCING | -$435M |
| FREE CASH FLOW | $1.2B |
| Net Change in Cash | $734M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5.1B |
| Short-Term Investments | $0 |
| Net Receivables | $4.1B |
| Inventory | $1.8B |
| Other Current Assets | $2.8B |
| TOTAL CURRENT ASSETS | $13.7B |
| PP&E (Net) | $46.9B |
| Goodwill | $9.8B |
| Intangible Assets | $6.0B |
| Long-Term Investments | $3.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $4.5B |
| TOTAL NON-CURRENT ASSETS | $70.8B |
| TOTAL ASSETS | $84.4B |
| Account Payables | $6.0B |
| Short-Term Debt | $3.9B |
| Deferred Revenue | $5.0B |
| Other Current Liabilities | $17.8B |
| TOTAL CURRENT LIABILITIES | $32.7B |
| Long-Term Debt | $11.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.5B |
| Other Non-Current Liabilities | $16.8B |
| TOTAL NON-CURRENT LIABILITIES | $31.4B |
| TOTAL LIABILITIES | $64.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $20.4B |
| TOTAL STOCKHOLDERS' EQUITY | $20.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $20.4B |
| TOTAL LIABILITIES & EQUITY | $84.4B |
| Total Debt | $15.0B |
| Net Debt | $9.9B |
