| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.6B | $3.7B | $4.8B | 24.3% | -3.7% |
| Op. Income | $636M | $248M | $1.1B | 155.9% | -42.9% |
| Gross Margin | 46.9% | 44.9% | 52.8% | 2.0pp | -5.8pp |
| Net Margin | 11.3% | 5.8% | 19.1% | 5.5pp | -7.8pp |
| EPS (Diluted) | $2.32 | $0.94 | $3.92 | 146.8% | -40.8% |
| Free Cash Flow | $1.7B | $980M | $1.4B | 74.5% | 18.5% |
| Item | Amount |
|---|---|
| REVENUE | $4.6B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.5B |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.9B |
| OPERATING INCOME | $636M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $636M |
| Income Tax Expense | $110M |
| Net Income from Continuing Ops | $525M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $517M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $517M |
| D&A | $0 |
| EBIT | $636M |
| EBITDA | $636M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $4.6B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.5B |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.9B |
| OPERATING INCOME | $636M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $636M |
| Income Tax Expense | $110M |
| Net Income from Continuing Ops | $525M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $517M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $517M |
| D&A | $0 |
| EBIT | $636M |
| EBITDA | $636M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $517M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | -$93M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.3B |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $1.7B |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | -$9M |
| Purchases of Investments | -$6.9B |
| Sales/Maturities of Investments | $3.9B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3.1B |
| Net Debt Issuance | $13M |
| Common Stock Repurchased | -$275M |
| Common Dividends Paid | -$172M |
| Other Financing Activities | $1.1B |
| NET CASH FROM FINANCING | $655M |
| FREE CASH FLOW | $1.7B |
| Net Change in Cash | -$706M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.4B |
| Short-Term Investments | $0 |
| Net Receivables | $3.9B |
| Inventory | $0 |
| Other Current Assets | -$3.9B |
| TOTAL CURRENT ASSETS | $4.4B |
| PP&E (Net) | $701M |
| Goodwill | $1.6B |
| Intangible Assets | $5.3B |
| Long-Term Investments | $304.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$308.6B |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $341.4B |
| Account Payables | $0 |
| Short-Term Debt | $443M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.4B |
| TOTAL CURRENT LIABILITIES | $1.9B |
| Long-Term Debt | $3.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.9B |
| Other Non-Current Liabilities | $304.2B |
| TOTAL NON-CURRENT LIABILITIES | $309.8B |
| TOTAL LIABILITIES | $329.0B |
| Common Stock | $5M |
| Additional Paid-In Capital | $11.3B |
| Retained Earnings | $18.1B |
| Treasury Stock | -$13.3B |
| Accum. Other Comp. Income | -$4.2B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $11.9B |
| Minority Interest | $507M |
| TOTAL EQUITY | $12.4B |
| TOTAL LIABILITIES & EQUITY | $341.4B |
| Total Debt | $4.2B |
| Net Debt | -$227M |
