| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15.3B | — | $7.3B | — | 110.5% |
| Op. Income | $3.2B | — | $7.3B | — | -55.6% |
| Gross Margin | 100.0% | — | 100.0% | — | 0.0pp |
| Net Margin | 17.6% | — | 39.8% | — | -22.2pp |
| EPS (Diluted) | $2.08 | — | $1.73 | — | 20.3% |
| Free Cash Flow | $1.5B | — | $1.2B | — | 22.1% |
| Item | Amount |
|---|---|
| REVENUE | $15.3B |
| Cost of Revenue | $0 |
| GROSS PROFIT | $15.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $12.1B |
| Operating Expenses | $12.1B |
| Cost & Expenses | $12.1B |
| OPERATING INCOME | $3.2B |
| Interest Income | $0 |
| Interest Expense | $96M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $3.2B |
| Income Tax Expense | $473M |
| Net Income from Continuing Ops | $2.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.7B |
| D&A | $0 |
| EBIT | $3.3B |
| EBITDA | $3.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $15.3B |
| Cost of Revenue | $0 |
| GROSS PROFIT | $15.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $12.1B |
| Operating Expenses | $12.1B |
| Cost & Expenses | $12.1B |
| OPERATING INCOME | $3.2B |
| Interest Income | $0 |
| Interest Expense | $96M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $3.2B |
| Income Tax Expense | $473M |
| Net Income from Continuing Ops | $2.8B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.7B |
| D&A | $0 |
| EBIT | $3.3B |
| EBITDA | $3.3B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $2.7B |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3.8B |
| Change in Working Capital | $2.6B |
| OPERATING CASH FLOW | $1.6B |
| Capital Expenditure | -$56M |
| Acquisitions (Net) | $1.2B |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $249M |
| NET CASH FROM INVESTING | $1.4B |
| Net Debt Issuance | -$6M |
| Common Stock Repurchased | -$526M |
| Common Dividends Paid | -$162M |
| Other Financing Activities | -$132M |
| NET CASH FROM FINANCING | -$824M |
| FREE CASH FLOW | $1.5B |
| Net Change in Cash | $2.1B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7.7B |
| Short-Term Investments | $0 |
| Net Receivables | $5.2B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $12.9B |
| PP&E (Net) | $530M |
| Goodwill | $903M |
| Intangible Assets | $4.0B |
| Long-Term Investments | $191.9B |
| Tax Assets | $119M |
| Other Non-Current Assets | $2.0B |
| TOTAL NON-CURRENT ASSETS | $199.4B |
| TOTAL ASSETS | $212.3B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $6.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.8B |
| Other Non-Current Liabilities | $183.1B |
| TOTAL NON-CURRENT LIABILITIES | $191.0B |
| TOTAL LIABILITIES | $191.0B |
| Common Stock | $169M |
| Additional Paid-In Capital | $5.0B |
| Retained Earnings | $14.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $852M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $20.1B |
| Minority Interest | $1.2B |
| TOTAL EQUITY | $21.4B |
| TOTAL LIABILITIES & EQUITY | $212.3B |
| Total Debt | $6.0B |
| Net Debt | -$1.7B |
