| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.5B | $4.7B | $4.9B | -4.1% | -7.2% |
| Op. Income | $258M | $587M | $630M | -56.2% | -59.1% |
| Gross Margin | 41.1% | 39.7% | 40.6% | 1.5pp | 0.5pp |
| Net Margin | 11.1% | 11.8% | 16.3% | -0.7pp | -5.3pp |
| EPS (Diluted) | $0.44 | $0.49 | $0.69 | -9.9% | -36.0% |
| Free Cash Flow | $0 | $0 | $1.9B | — | -100.0% |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $2.7B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.1B |
| Other Expenses | $496M |
| Operating Expenses | $1.6B |
| Cost & Expenses | $4.3B |
| OPERATING INCOME | $258M |
| Interest Income | $0 |
| Interest Expense | $281M |
| Other Income/Expenses | $351M |
| INCOME BEFORE TAX | $608M |
| Income Tax Expense | $107M |
| Net Income from Continuing Ops | $501M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $500M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $500M |
| D&A | $626M |
| EBIT | $808M |
| EBITDA | $1.4B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $2.7B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.1B |
| Other Expenses | $496M |
| Operating Expenses | $1.6B |
| Cost & Expenses | $4.3B |
| OPERATING INCOME | $258M |
| Interest Income | $0 |
| Interest Expense | $281M |
| Other Income/Expenses | $351M |
| INCOME BEFORE TAX | $608M |
| Income Tax Expense | $107M |
| Net Income from Continuing Ops | $501M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $500M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $500M |
| D&A | $626M |
| EBIT | $808M |
| EBITDA | $1.4B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $500M |
| Depreciation & Amortization | $654M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1.2B |
| 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 | $451M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7.6B |
| Short-Term Investments | $9M |
| Net Receivables | $35.5B |
| Inventory | $1.4B |
| Other Current Assets | $1.1B |
| TOTAL CURRENT ASSETS | $45.7B |
| PP&E (Net) | $6.5B |
| Goodwill | $3.9B |
| Intangible Assets | $3.8B |
| Long-Term Investments | $27.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $18.1B |
| TOTAL NON-CURRENT ASSETS | $60.0B |
| TOTAL ASSETS | $105.7B |
| Account Payables | $2.1B |
| Short-Term Debt | $8.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9.8B |
| TOTAL CURRENT LIABILITIES | $21.2B |
| Long-Term Debt | $30.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $26.6B |
| TOTAL NON-CURRENT LIABILITIES | $58.4B |
| TOTAL LIABILITIES | $79.5B |
| Common Stock | $1.4B |
| Additional Paid-In Capital | $1.5B |
| Retained Earnings | $21.0B |
| Treasury Stock | -$387M |
| Accum. Other Comp. Income | $2.1B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $25.6B |
| Minority Interest | $535M |
| TOTAL EQUITY | $26.2B |
| TOTAL LIABILITIES & EQUITY | $105.7B |
| Total Debt | $41.0B |
| Net Debt | $33.4B |
