| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $33.7B | $33.9B | $58.7B | -0.3% | -42.6% |
| Op. Income | $6.3B | $9.5B | $8.9B | -33.3% | -29.0% |
| Gross Margin | 52.3% | 52.4% | 100.0% | -0.1pp | -47.7pp |
| Net Margin | 14.0% | 21.6% | 11.1% | -7.6pp | 2.9pp |
| EPS (Diluted) | $1.30 | $1.95 | $1.70 | -33.3% | -23.5% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $33.7B |
| Cost of Revenue | $16.1B |
| GROSS PROFIT | $17.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $10.9B |
| General & Administrative | $4.9B |
| SG&A Expenses | $0 |
| Other Expenses | $11.3B |
| Operating Expenses | $11.3B |
| Cost & Expenses | $27.4B |
| OPERATING INCOME | $6.3B |
| Interest Income | $24.6B |
| Interest Expense | $16.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $6.3B |
| Income Tax Expense | $1.5B |
| Net Income from Continuing Ops | $4.9B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4.6B |
| D&A | $1.6B |
| EBIT | $6.3B |
| EBITDA | $7.9B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $33.7B |
| Cost of Revenue | $16.1B |
| GROSS PROFIT | $17.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $10.9B |
| General & Administrative | $4.9B |
| SG&A Expenses | $0 |
| Other Expenses | $11.3B |
| Operating Expenses | $11.3B |
| Cost & Expenses | $27.4B |
| OPERATING INCOME | $6.3B |
| Interest Income | $24.6B |
| Interest Expense | $16.1B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $6.3B |
| Income Tax Expense | $1.5B |
| Net Income from Continuing Ops | $4.9B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4.6B |
| D&A | $1.6B |
| EBIT | $6.3B |
| EBITDA | $7.9B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $4.7B |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $315M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$5.0B |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $246.4B |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $246.4B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $13.0B |
| Long-Term Investments | $1.1T |
| Tax Assets | $6.7B |
| Other Non-Current Assets | $1.9T |
| TOTAL NON-CURRENT ASSETS | $3.0T |
| TOTAL ASSETS | $3.2T |
| Account Payables | $0 |
| Short-Term Debt | $238.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$238.1B |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $488.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.5T |
| TOTAL NON-CURRENT LIABILITIES | $3.0T |
| TOTAL LIABILITIES | $3.0T |
| Common Stock | $8.7B |
| Additional Paid-In Capital | $14.9B |
| Retained Earnings | $149.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1.6B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $171.8B |
| Minority Interest | $7.3B |
| TOTAL EQUITY | $179.2B |
| TOTAL LIABILITIES & EQUITY | $3.2T |
| Total Debt | $486.3B |
| Net Debt | $242.5B |
