| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.4B | $6.7B | $5.4B | -19.2% | 1.2% |
| Op. Income | $927M | $1.5B | $913M | -39.6% | 1.5% |
| Gross Margin | 40.7% | 42.4% | 40.3% | -1.7pp | 0.4pp |
| Net Margin | 7.2% | 13.5% | 8.4% | -6.3pp | -1.2pp |
| EPS (Diluted) | $0.39 | $0.90 | $0.45 | -56.7% | -13.3% |
| Free Cash Flow | -$502M | -$746M | -$237M | 32.7% | -111.8% |
| Item | Amount |
|---|---|
| REVENUE | $5.4B |
| Cost of Revenue | $3.2B |
| GROSS PROFIT | $2.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.3B |
| Operating Expenses | $1.3B |
| Cost & Expenses | $4.5B |
| OPERATING INCOME | $927M |
| Interest Income | $0 |
| Interest Expense | $531M |
| Other Income/Expenses | -$466M |
| INCOME BEFORE TAX | $461M |
| Income Tax Expense | $70M |
| Net Income from Continuing Ops | $391M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $391M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $391M |
| D&A | $902M |
| EBIT | $992M |
| EBITDA | $1.9B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $5.4B |
| Cost of Revenue | $3.2B |
| GROSS PROFIT | $2.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.3B |
| Operating Expenses | $1.3B |
| Cost & Expenses | $4.5B |
| OPERATING INCOME | $927M |
| Interest Income | $0 |
| Interest Expense | $531M |
| Other Income/Expenses | -$466M |
| INCOME BEFORE TAX | $461M |
| Income Tax Expense | $70M |
| Net Income from Continuing Ops | $391M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $391M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $391M |
| D&A | $902M |
| EBIT | $992M |
| EBITDA | $1.9B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $392M |
| Depreciation & Amortization | $604M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $44M |
| Other Non-Cash Items | $648M |
| Change in Working Capital | -$177M |
| OPERATING CASH FLOW | $1.5B |
| Capital Expenditure | -$2.0B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$2.0B |
| Net Debt Issuance | $593M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$405M |
| Other Financing Activities | -$21M |
| NET CASH FROM FINANCING | $178M |
| FREE CASH FLOW | -$502M |
| Net Change in Cash | -$331M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $724M |
| Short-Term Investments | $0 |
| Net Receivables | $4.1B |
| Inventory | $868M |
| Other Current Assets | $2.6B |
| TOTAL CURRENT ASSETS | $8.7B |
| PP&E (Net) | $80.6B |
| Goodwill | $6.6B |
| Intangible Assets | $0 |
| Long-Term Investments | $297M |
| Tax Assets | $0 |
| Other Non-Current Assets | $14.9B |
| TOTAL NON-CURRENT ASSETS | $102.5B |
| TOTAL ASSETS | $111.1B |
| Account Payables | $3.0B |
| Short-Term Debt | $2.9B |
| Deferred Revenue | $491M |
| Other Current Liabilities | $1.4B |
| TOTAL CURRENT LIABILITIES | $9.2B |
| Long-Term Debt | $45.9B |
| Deferred Revenue NC | $18M |
| Deferred Tax Liabilities | $13.2B |
| Other Non-Current Liabilities | $15.2B |
| TOTAL NON-CURRENT LIABILITIES | $74.4B |
| TOTAL LIABILITIES | $83.5B |
| Common Stock | $21.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $6.9B |
| Treasury Stock | -$123M |
| Accum. Other Comp. Income | -$718M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $27.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $27.6B |
| TOTAL LIABILITIES & EQUITY | $111.1B |
| Total Debt | $48.8B |
| Net Debt | $48.1B |
