| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.1B | $4.5B | $4.9B | 13.2% | 5.2% |
| Op. Income | $1.7B | $1.3B | $1.6B | 28.1% | 4.2% |
| Gross Margin | 51.8% | 49.7% | 51.1% | 2.1pp | 0.7pp |
| Net Margin | 30.7% | 26.7% | 22.7% | 4.1pp | 8.0pp |
| EPS (Diluted) | $5.74 | $4.41 | $4.21 | 30.2% | 36.3% |
| Free Cash Flow | -$989M | $910M | $563M | -208.7% | -275.7% |
| Item | Amount |
|---|---|
| REVENUE | $5.1B |
| Cost of Revenue | $2.5B |
| GROSS PROFIT | $2.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $522M |
| Other Expenses | $436M |
| Operating Expenses | $958M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $1.7B |
| Interest Income | $3M |
| Interest Expense | $248M |
| Other Income/Expenses | -$127M |
| INCOME BEFORE TAX | $1.6B |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.6B |
| Net Income Deductions | $4M |
| BOTTOM LINE NET INCOME | $1.6B |
| D&A | $435M |
| EBIT | $1.8B |
| EBITDA | $2.3B |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| REVENUE | $5.1B |
| Cost of Revenue | $2.5B |
| GROSS PROFIT | $2.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $522M |
| Other Expenses | $436M |
| Operating Expenses | $958M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $1.7B |
| Interest Income | $3M |
| Interest Expense | $248M |
| Other Income/Expenses | -$127M |
| INCOME BEFORE TAX | $1.6B |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.6B |
| Net Income Deductions | $4M |
| BOTTOM LINE NET INCOME | $1.6B |
| D&A | $435M |
| EBIT | $1.8B |
| EBITDA | $2.3B |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| Net Income | $1.6B |
| Depreciation & Amortization | $436M |
| Stock-Based Compensation | $44M |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $157M |
| Change in Working Capital | -$743M |
| OPERATING CASH FLOW | $1.5B |
| Capital Expenditure | -$2.5B |
| Acquisitions (Net) | $62M |
| Purchases of Investments | $11M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$2.4B |
| Net Debt Issuance | $1.2B |
| Common Stock Repurchased | -$414M |
| Common Dividends Paid | -$204M |
| Other Financing Activities | $3M |
| NET CASH FROM FINANCING | $615M |
| FREE CASH FLOW | -$989M |
| Net Change in Cash | -$303M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $432M |
| Short-Term Investments | $209M |
| Net Receivables | $356M |
| Inventory | $269M |
| Other Current Assets | $621M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $35.2B |
| Goodwill | $808M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.2B |
| TOTAL NON-CURRENT ASSETS | $38.2B |
| TOTAL ASSETS | $40.1B |
| Account Payables | $828M |
| Short-Term Debt | $3.1B |
| Deferred Revenue | $5.6B |
| Other Current Liabilities | $1.9B |
| TOTAL CURRENT LIABILITIES | $11.5B |
| Long-Term Debt | $17.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $536M |
| TOTAL NON-CURRENT LIABILITIES | $18.4B |
| TOTAL LIABILITIES | $29.8B |
| Common Stock | $3M |
| Additional Paid-In Capital | $7.9B |
| Retained Earnings | $5.4B |
| Treasury Stock | -$2.7B |
| Accum. Other Comp. Income | -$528M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10.1B |
| Minority Interest | $196M |
| TOTAL EQUITY | $10.3B |
| TOTAL LIABILITIES & EQUITY | $40.1B |
| Total Debt | $21.0B |
| Net Debt | $20.5B |
