| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $30.1B | $32.2B | $32.2B | -6.3% | -6.6% |
| Op. Income | $5.9B | $5.4B | $5.3B | 8.6% | 11.4% |
| Gross Margin | 51.7% | 46.2% | 41.9% | 5.5pp | 9.8pp |
| Net Margin | 15.3% | 12.7% | 12.8% | 2.6pp | 2.6pp |
| EPS (Diluted) | $14.00 | $12.25 | $11.95 | 14.3% | 17.2% |
| Free Cash Flow | -$16.8B | $2.1B | $46.2B | -892.0% | -136.4% |
| Item | Amount |
|---|---|
| REVENUE | $30.1B |
| Cost of Revenue | $14.5B |
| GROSS PROFIT | $15.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $216M |
| General & Administrative | $4.7B |
| SG&A Expenses | $4.9B |
| Other Expenses | $4.8B |
| Operating Expenses | $9.7B |
| Cost & Expenses | $24.3B |
| OPERATING INCOME | $5.9B |
| Interest Income | $20.4B |
| Interest Expense | $16.7B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5.9B |
| Income Tax Expense | $1.2B |
| Net Income from Continuing Ops | $4.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4.4B |
| D&A | $527M |
| EBIT | $5.9B |
| EBITDA | $6.4B |
| EPS | $14 |
| EPS Diluted | $14 |
| Item | Amount |
|---|---|
| REVENUE | $30.1B |
| Cost of Revenue | $14.5B |
| GROSS PROFIT | $15.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $216M |
| General & Administrative | $4.7B |
| SG&A Expenses | $4.9B |
| Other Expenses | $4.8B |
| Operating Expenses | $9.7B |
| Cost & Expenses | $24.3B |
| OPERATING INCOME | $5.9B |
| Interest Income | $20.4B |
| Interest Expense | $16.7B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $5.9B |
| Income Tax Expense | $1.2B |
| Net Income from Continuing Ops | $4.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4.4B |
| D&A | $527M |
| EBIT | $5.9B |
| EBITDA | $6.4B |
| EPS | $14 |
| EPS Diluted | $14 |
| Item | Amount |
|---|---|
| Net Income | $4.6B |
| Depreciation & Amortization | $527M |
| Stock-Based Compensation | $258M |
| Deferred Income Tax | $357M |
| Other Non-Cash Items | -$69.2B |
| Change in Working Capital | $47.1B |
| OPERATING CASH FLOW | -$16.3B |
| Capital Expenditure | -$531M |
| Acquisitions (Net) | -$1.5B |
| Purchases of Investments | $78.2B |
| Sales/Maturities of Investments | -$64.5B |
| Other Investing Activities | -$16.7B |
| NET CASH FROM INVESTING | -$5.0B |
| Net Debt Issuance | -$10.1B |
| Common Stock Repurchased | -$3.0B |
| Common Dividends Paid | -$1.5B |
| Other Financing Activities | $31.4B |
| NET CASH FROM FINANCING | $16.8B |
| FREE CASH FLOW | -$16.8B |
| Net Change in Cash | -$5.3B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $164.3B |
| Short-Term Investments | $460.3B |
| Net Receivables | $394.1B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.0T |
| PP&E (Net) | $9.5B |
| Goodwill | $5.9B |
| Intangible Assets | $842M |
| Long-Term Investments | $469.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $304.5B |
| TOTAL NON-CURRENT ASSETS | $790.7B |
| TOTAL ASSETS | $1.8T |
| Account Payables | $231.9B |
| Short-Term Debt | $311.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $679.6B |
| TOTAL CURRENT LIABILITIES | $1.2T |
| Long-Term Debt | $296.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $159.2B |
| TOTAL NON-CURRENT LIABILITIES | $457.5B |
| TOTAL LIABILITIES | $1.7T |
| Common Stock | $9M |
| Additional Paid-In Capital | $61.9B |
| Retained Earnings | $165.3B |
| Treasury Stock | -$120.9B |
| Accum. Other Comp. Income | -$2.3B |
| Other Equity | $5.8B |
| TOTAL STOCKHOLDERS' EQUITY | $125.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $125.0B |
| TOTAL LIABILITIES & EQUITY | $1.8T |
| Total Debt | $609.5B |
| Net Debt | $445.3B |
