| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $23.8B | $25.7B | $24.2B | -7.5% | -1.6% |
| Op. Income | $4.0B | $4.7B | $3.6B | -14.2% | 12.0% |
| Gross Margin | 43.7% | 44.5% | 39.4% | -0.8pp | 4.3pp |
| Net Margin | 13.5% | 14.6% | 11.9% | -1.1pp | 1.5pp |
| EPS (Diluted) | $2.21 | $2.59 | $2.00 | -14.7% | 10.2% |
| Free Cash Flow | $6.8B | $22.3B | -$11.7B | -69.3% | 158.5% |
| Item | Amount |
|---|---|
| REVENUE | $23.8B |
| Cost of Revenue | $13.4B |
| GROSS PROFIT | $10.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $4.0B |
| SG&A Expenses | $4.0B |
| Other Expenses | $2.4B |
| Operating Expenses | $6.4B |
| Cost & Expenses | $19.8B |
| OPERATING INCOME | $4.0B |
| Interest Income | $18.2B |
| Interest Expense | $12.4B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4.0B |
| Income Tax Expense | $824M |
| Net Income from Continuing Ops | $3.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3.1B |
| D&A | $570M |
| EBIT | $4.0B |
| EBITDA | $4.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $23.8B |
| Cost of Revenue | $13.4B |
| GROSS PROFIT | $10.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $4.0B |
| SG&A Expenses | $4.0B |
| Other Expenses | $2.4B |
| Operating Expenses | $6.4B |
| Cost & Expenses | $19.8B |
| OPERATING INCOME | $4.0B |
| Interest Income | $18.2B |
| Interest Expense | $12.4B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $4.0B |
| Income Tax Expense | $824M |
| Net Income from Continuing Ops | $3.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3.1B |
| D&A | $570M |
| EBIT | $4.0B |
| EBITDA | $4.6B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $3.2B |
| Depreciation & Amortization | $570M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$190M |
| Other Non-Cash Items | $996M |
| Change in Working Capital | $2.6B |
| OPERATING CASH FLOW | $7.2B |
| Capital Expenditure | -$353M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$48.6B |
| Sales/Maturities of Investments | $38.8B |
| Other Investing Activities | -$13.2B |
| NET CASH FROM INVESTING | -$23.3B |
| Net Debt Issuance | $1.4B |
| Common Stock Repurchased | -$1.9B |
| Common Dividends Paid | -$1.6B |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | -$669M |
| FREE CASH FLOW | $6.8B |
| Net Change in Cash | -$16.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83.7B |
| Short-Term Investments | $216.4B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $300.1B |
| PP&E (Net) | $4.9B |
| Goodwill | $14.1B |
| Intangible Assets | $5.5B |
| Long-Term Investments | $952.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $361.6B |
| TOTAL NON-CURRENT ASSETS | $1.3T |
| TOTAL ASSETS | $1.6T |
| Account Payables | $0 |
| Short-Term Debt | $313.8B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $736.2B |
| TOTAL CURRENT LIABILITIES | $1.0T |
| Long-Term Debt | $257.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $234.5B |
| TOTAL NON-CURRENT LIABILITIES | $491.7B |
| TOTAL LIABILITIES | $1.5T |
| Common Stock | $15.3B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $68.0B |
| Treasury Stock | -$152M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $6.0B |
| TOTAL STOCKHOLDERS' EQUITY | $96.8B |
| Minority Interest | $61M |
| TOTAL EQUITY | $96.9B |
| TOTAL LIABILITIES & EQUITY | $1.6T |
| Total Debt | $570.9B |
| Net Debt | $487.2B |
