| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.1B | $4.7B | $4.6B | -13.8% | -11.5% |
| Op. Income | $848M | -$949M | $1.1B | 189.4% | -22.6% |
| Gross Margin | -2.1% | 9.5% | 10.6% | -11.6pp | -12.6pp |
| Net Margin | 17.2% | -15.3% | 19.5% | 32.5pp | -2.3pp |
| EPS (Diluted) | $3.81 | $-4.41 | $5.11 | 186.4% | -25.4% |
| Free Cash Flow | $1.0B | -$272M | -$859M | 472.4% | 217.9% |
| Item | Amount |
|---|---|
| REVENUE | $4.1B |
| Cost of Revenue | $4.1B |
| GROSS PROFIT | -$84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | -$932M |
| Operating Expenses | -$932M |
| Cost & Expenses | $3.2B |
| OPERATING INCOME | $848M |
| Interest Income | $13M |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $848M |
| Income Tax Expense | $149M |
| Net Income from Continuing Ops | $699M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $699M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $688M |
| D&A | $0 |
| EBIT | $848M |
| EBITDA | $848M |
| EPS | $4 |
| EPS Diluted | $4 |
| Item | Amount |
|---|---|
| Net Income | $699M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$73M |
| Change in Working Capital | $387M |
| OPERATING CASH FLOW | $1.0B |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$4.4B |
| Sales/Maturities of Investments | $4.0B |
| Other Investing Activities | $136M |
| NET CASH FROM INVESTING | -$266M |
| Net Debt Issuance | -$376M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$76M |
| Other Financing Activities | $1.8B |
| NET CASH FROM FINANCING | $2.1B |
| FREE CASH FLOW | $1.0B |
| Net Change in Cash | $2.9B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7.1B |
| Short-Term Investments | $22.9B |
| Net Receivables | $28.4B |
| Inventory | $0 |
| Other Current Assets | -$51.4B |
| TOTAL CURRENT ASSETS | $7.1B |
| PP&E (Net) | $0 |
| Goodwill | $1.1B |
| Intangible Assets | $12.6B |
| Long-Term Investments | $98.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $292.8B |
| TOTAL NON-CURRENT ASSETS | $391.9B |
| TOTAL ASSETS | $399.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $144.6B |
| TOTAL CURRENT LIABILITIES | $153.0B |
| Long-Term Debt | $5.8B |
| Deferred Revenue NC | $7.1B |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $223.6B |
| TOTAL NON-CURRENT LIABILITIES | $236.5B |
| TOTAL LIABILITIES | $389.5B |
| Common Stock | $5.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $7.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4.4B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $9.5B |
| TOTAL LIABILITIES & EQUITY | $399.1B |
| Total Debt | $5.8B |
| Net Debt | -$1.4B |
