| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.5B | — | $3.6B | — | 24.3% |
| Op. Income | $410M | — | $433M | — | -5.3% |
| Gross Margin | 13.5% | — | 14.2% | — | -0.7pp |
| Net Margin | 5.6% | — | 7.2% | — | -1.7pp |
| EPS (Diluted) | $0.43 | — | $0.53 | — | -17.9% |
| Free Cash Flow | $487M | — | $301M | — | 61.9% |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $3.9B |
| GROSS PROFIT | $613M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $204M |
| Operating Expenses | $204M |
| Cost & Expenses | $4.1B |
| OPERATING INCOME | $410M |
| Interest Income | $0 |
| Interest Expense | $125M |
| Other Income/Expenses | -$119M |
| INCOME BEFORE TAX | $291M |
| Income Tax Expense | $70M |
| Net Income from Continuing Ops | $221M |
| Net Income from Discontinued Ops | $32M |
| Other Adjustments | $0 |
| NET INCOME | $253M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $221M |
| D&A | $259M |
| EBIT | $561M |
| EBITDA | $820M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $3.9B |
| GROSS PROFIT | $613M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $204M |
| Operating Expenses | $204M |
| Cost & Expenses | $4.1B |
| OPERATING INCOME | $410M |
| Interest Income | $0 |
| Interest Expense | $125M |
| Other Income/Expenses | -$119M |
| INCOME BEFORE TAX | $291M |
| Income Tax Expense | $70M |
| Net Income from Continuing Ops | $221M |
| Net Income from Discontinued Ops | $32M |
| Other Adjustments | $0 |
| NET INCOME | $253M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $221M |
| D&A | $259M |
| EBIT | $561M |
| EBITDA | $820M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $253M |
| Depreciation & Amortization | $391M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $61M |
| Change in Working Capital | -$73M |
| OPERATING CASH FLOW | $632M |
| Capital Expenditure | -$146M |
| Acquisitions (Net) | -$94M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$36M |
| NET CASH FROM INVESTING | -$276M |
| Net Debt Issuance | $591M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$267M |
| Other Financing Activities | $40M |
| NET CASH FROM FINANCING | $364M |
| FREE CASH FLOW | $487M |
| Net Change in Cash | $1.4B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.7B |
| Short-Term Investments | $2M |
| Net Receivables | $1.2B |
| Inventory | $281M |
| Other Current Assets | $495M |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $1.0B |
| Goodwill | $0 |
| Intangible Assets | $9.0B |
| Long-Term Investments | $193M |
| Tax Assets | $51M |
| Other Non-Current Assets | $367M |
| TOTAL NON-CURRENT ASSETS | $10.6B |
| TOTAL ASSETS | $14.2B |
| Account Payables | $1.4B |
| Short-Term Debt | $1.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $367M |
| TOTAL CURRENT LIABILITIES | $3.3B |
| Long-Term Debt | $4.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $598M |
| Other Non-Current Liabilities | $535M |
| TOTAL NON-CURRENT LIABILITIES | $5.7B |
| TOTAL LIABILITIES | $9.0B |
| Common Stock | $41M |
| Additional Paid-In Capital | $20M |
| Retained Earnings | $6.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$971M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.3B |
| Minority Interest | -$2M |
| TOTAL EQUITY | $5.3B |
| TOTAL LIABILITIES & EQUITY | $14.2B |
| Total Debt | $6.0B |
| Net Debt | $4.4B |
