| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.5B | $3.3B | $3.4B | -23.7% | -25.9% |
| Op. Income | $1.0B | $935M | $909M | 9.6% | 12.8% |
| Gross Margin | 95.0% | 69.0% | 65.2% | 26.0pp | 29.8pp |
| Net Margin | 31.5% | 21.7% | 21.3% | 9.8pp | 10.3pp |
| EPS (Diluted) | $4.82 | $4.24 | $4.02 | 13.7% | 19.9% |
| Free Cash Flow | $1.1B | $818M | -$58M | 28.6% | 1913.8% |
| Item | Amount |
|---|---|
| REVENUE | $2.5B |
| Cost of Revenue | $125M |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $63M |
| General & Administrative | $600M |
| SG&A Expenses | $663M |
| Other Expenses | $700M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $1.5B |
| OPERATING INCOME | $1.0B |
| Interest Income | $2.7B |
| Interest Expense | $919M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $233M |
| Net Income from Continuing Ops | $792M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $792M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $754M |
| D&A | $10M |
| EBIT | $1.0B |
| EBITDA | $1.0B |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $2.5B |
| Cost of Revenue | $125M |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $63M |
| General & Administrative | $600M |
| SG&A Expenses | $663M |
| Other Expenses | $700M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $1.5B |
| OPERATING INCOME | $1.0B |
| Interest Income | $2.7B |
| Interest Expense | $919M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $233M |
| Net Income from Continuing Ops | $792M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $792M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $754M |
| D&A | $10M |
| EBIT | $1.0B |
| EBITDA | $1.0B |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $792M |
| Depreciation & Amortization | $122M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$16M |
| Other Non-Cash Items | $91M |
| Change in Working Capital | $12M |
| OPERATING CASH FLOW | $1.0B |
| Capital Expenditure | $51M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3.1B |
| Sales/Maturities of Investments | -$1.5B |
| Other Investing Activities | $6.0B |
| NET CASH FROM INVESTING | -$545M |
| Net Debt Issuance | $1.0B |
| Common Stock Repurchased | -$404M |
| Common Dividends Paid | -$233M |
| Other Financing Activities | -$1.5B |
| NET CASH FROM FINANCING | -$1.2B |
| FREE CASH FLOW | $1.1B |
| Net Change in Cash | -$178M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $18.7B |
| Short-Term Investments | $19.3B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $38.0B |
| PP&E (Net) | $1.6B |
| Goodwill | $8.5B |
| Intangible Assets | $74M |
| Long-Term Investments | $152.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $10.7B |
| TOTAL NON-CURRENT ASSETS | $173.3B |
| TOTAL ASSETS | $211.3B |
| Account Payables | $0 |
| Short-Term Debt | $2.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $163.4B |
| TOTAL CURRENT LIABILITIES | $165.5B |
| Long-Term Debt | $12.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.1B |
| TOTAL NON-CURRENT LIABILITIES | $17.1B |
| TOTAL LIABILITIES | $182.5B |
| Common Stock | $91M |
| Additional Paid-In Capital | $10.0B |
| Retained Earnings | $20.4B |
| Treasury Stock | -$4.4B |
| Accum. Other Comp. Income | $277M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $28.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $28.7B |
| TOTAL LIABILITIES & EQUITY | $211.3B |
| Total Debt | $15.0B |
| Net Debt | -$3.7B |
