| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.0B | $3.0B | 0.8% | 0.2% |
| Op. Income | $877M | $937M | $938M | -6.4% | -6.5% |
| Gross Margin | 66.8% | 70.5% | 31.3% | -3.7pp | 35.4pp |
| Net Margin | 18.2% | 21.7% | 25.1% | -3.4pp | -6.8pp |
| EPS (Diluted) | $2.43 | $2.87 | $3.31 | -15.3% | -26.6% |
| Free Cash Flow | $344M | $2.5B | $501M | -86.4% | -31.3% |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $996M |
| GROSS PROFIT | $2.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.1B |
| Operating Expenses | $2.1B |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $877M |
| Interest Income | $0 |
| Interest Expense | $197M |
| Other Income/Expenses | -$162M |
| INCOME BEFORE TAX | $715M |
| Income Tax Expense | $168M |
| Net Income from Continuing Ops | $547M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $547M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $547M |
| D&A | $0 |
| EBIT | $0 |
| EBITDA | $877M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $996M |
| GROSS PROFIT | $2.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.1B |
| Operating Expenses | $2.1B |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $877M |
| Interest Income | $0 |
| Interest Expense | $197M |
| Other Income/Expenses | -$162M |
| INCOME BEFORE TAX | $715M |
| Income Tax Expense | $168M |
| Net Income from Continuing Ops | $547M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $547M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $547M |
| D&A | $0 |
| EBIT | $0 |
| EBITDA | $877M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $547M |
| Depreciation & Amortization | $352M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $48M |
| Other Non-Cash Items | -$603M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $344M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $10M |
| Other Investing Activities | -$223M |
| NET CASH FROM INVESTING | -$213M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$17M |
| NET CASH FROM FINANCING | -$320M |
| FREE CASH FLOW | $344M |
| Net Change in Cash | -$189M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $0 |
| Other Current Assets | $560M |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $38.0B |
| TOTAL NON-CURRENT ASSETS | $42.1B |
| TOTAL ASSETS | $45.1B |
| Account Payables | $1.7B |
| Short-Term Debt | $609M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.7B |
| TOTAL CURRENT LIABILITIES | $3.3B |
| Long-Term Debt | $16.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7.8B |
| Other Non-Current Liabilities | $1.7B |
| TOTAL NON-CURRENT LIABILITIES | $26.0B |
| TOTAL LIABILITIES | $29.3B |
| Common Stock | $226M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$211M |
| Other Equity | $15.8B |
| TOTAL STOCKHOLDERS' EQUITY | $15.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $15.8B |
| TOTAL LIABILITIES & EQUITY | $45.1B |
| Total Debt | $17.1B |
| Net Debt | $15.8B |
