| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $25.3B | $26.0B | $26.5B | -2.9% | -4.8% |
| Op. Income | $6.1B | $5.3B | $8.7B | 14.9% | -30.7% |
| Gross Margin | 25.1% | 33.8% | 40.9% | -8.7pp | -15.7pp |
| Net Margin | 5.2% | -0.8% | 7.5% | 6.0pp | -2.3pp |
| EPS (Diluted) | $0.52 | $-0.08 | $0.73 | 750.0% | -28.8% |
| Free Cash Flow | -$2.1B | $2.9B | -$1.2B | -170.2% | -67.9% |
| Item | Amount |
|---|---|
| REVENUE | $25.3B |
| Cost of Revenue | $18.9B |
| GROSS PROFIT | $6.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $298M |
| Other Expenses | $0 |
| Operating Expenses | $298M |
| Cost & Expenses | $19.2B |
| OPERATING INCOME | $6.1B |
| Interest Income | $275M |
| Interest Expense | $398M |
| Other Income/Expenses | -$293M |
| INCOME BEFORE TAX | $5.8B |
| Income Tax Expense | $4.5B |
| Net Income from Continuing Ops | $1.3B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.3B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.3B |
| D&A | $2.7B |
| EBIT | $6.1B |
| EBITDA | $8.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $25.3B |
| Cost of Revenue | $18.9B |
| GROSS PROFIT | $6.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $298M |
| Other Expenses | $0 |
| Operating Expenses | $298M |
| Cost & Expenses | $19.2B |
| OPERATING INCOME | $6.1B |
| Interest Income | $275M |
| Interest Expense | $398M |
| Other Income/Expenses | -$293M |
| INCOME BEFORE TAX | $5.8B |
| Income Tax Expense | $4.5B |
| Net Income from Continuing Ops | $1.3B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.3B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.3B |
| D&A | $2.7B |
| EBIT | $6.1B |
| EBITDA | $8.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $1.3B |
| Depreciation & Amortization | $2.7B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$667M |
| Change in Working Capital | -$1.2B |
| OPERATING CASH FLOW | $2.1B |
| Capital Expenditure | -$4.1B |
| Acquisitions (Net) | $2.0B |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | -$1.6B |
| Other Investing Activities | -$12M |
| NET CASH FROM INVESTING | -$3.7B |
| Net Debt Issuance | $197M |
| Common Stock Repurchased | -$383M |
| Common Dividends Paid | -$916M |
| Other Financing Activities | -$324M |
| NET CASH FROM FINANCING | -$1.4B |
| FREE CASH FLOW | -$2.1B |
| Net Change in Cash | -$3.1B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5.0B |
| Short-Term Investments | $14.3B |
| Net Receivables | $10.8B |
| Inventory | $3.3B |
| Other Current Assets | $4.6B |
| TOTAL CURRENT ASSETS | $38.0B |
| PP&E (Net) | $61.2B |
| Goodwill | $6.0B |
| Intangible Assets | $0 |
| Long-Term Investments | $16.4B |
| Tax Assets | $5.1B |
| Other Non-Current Assets | $5.1B |
| TOTAL NON-CURRENT ASSETS | $93.7B |
| TOTAL ASSETS | $131.7B |
| Account Payables | $9.7B |
| Short-Term Debt | $5.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4.7B |
| TOTAL CURRENT LIABILITIES | $30.6B |
| Long-Term Debt | $26.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $14.5B |
| Other Non-Current Liabilities | $17.9B |
| TOTAL NON-CURRENT LIABILITIES | $60.6B |
| TOTAL LIABILITIES | $91.2B |
| Common Stock | $995M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $48.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$8.6B |
| Other Equity | $1M |
| TOTAL STOCKHOLDERS' EQUITY | $40.4B |
| Minority Interest | $74M |
| TOTAL EQUITY | $40.5B |
| TOTAL LIABILITIES & EQUITY | $131.7B |
| Total Debt | $33.4B |
| Net Debt | $28.4B |
