| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39.0B | — | $27.9B | — | 39.7% |
| Op. Income | $677M | — | $440M | — | 54.0% |
| Gross Margin | 2.3% | — | 2.2% | — | 0.1pp |
| Net Margin | 0.4% | — | 0.3% | — | 0.1pp |
| EPS (Diluted) | $2.50 | — | $1.69 | — | 47.9% |
| Free Cash Flow | -$1.3B | — | -$491M | — | -159.8% |
| Item | Amount |
|---|---|
| REVENUE | $39.0B |
| Cost of Revenue | $38.1B |
| GROSS PROFIT | $895M |
| R&D Expenses | $0 |
| Selling & Marketing | $14M |
| General & Administrative | $96M |
| SG&A Expenses | $110M |
| Other Expenses | $108M |
| Operating Expenses | $218M |
| Cost & Expenses | $38.4B |
| OPERATING INCOME | $677M |
| Interest Income | $0 |
| Interest Expense | $488M |
| Other Income/Expenses | -$492M |
| INCOME BEFORE TAX | $185M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $139M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $134M |
| D&A | $32M |
| EBIT | $673M |
| EBITDA | $705M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $39.0B |
| Cost of Revenue | $38.1B |
| GROSS PROFIT | $895M |
| R&D Expenses | $0 |
| Selling & Marketing | $14M |
| General & Administrative | $96M |
| SG&A Expenses | $110M |
| Other Expenses | $108M |
| Operating Expenses | $218M |
| Cost & Expenses | $38.4B |
| OPERATING INCOME | $677M |
| Interest Income | $0 |
| Interest Expense | $488M |
| Other Income/Expenses | -$492M |
| INCOME BEFORE TAX | $185M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | $139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $139M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $134M |
| D&A | $32M |
| EBIT | $673M |
| EBITDA | $705M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $139M |
| Depreciation & Amortization | $32M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $14M |
| Other Non-Cash Items | -$2.3B |
| Change in Working Capital | $836M |
| OPERATING CASH FLOW | -$1.3B |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3.1B |
| Sales/Maturities of Investments | $2.4B |
| Other Investing Activities | $626M |
| NET CASH FROM INVESTING | -$28M |
| Net Debt Issuance | -$281M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$20M |
| NET CASH FROM FINANCING | -$300M |
| FREE CASH FLOW | -$1.3B |
| Net Change in Cash | -$1.6B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.6B |
| Short-Term Investments | $0 |
| Net Receivables | $11.3B |
| Inventory | $1.4B |
| Other Current Assets | $21.5B |
| TOTAL CURRENT ASSETS | $35.8B |
| PP&E (Net) | $324M |
| Goodwill | $302M |
| Intangible Assets | $453M |
| Long-Term Investments | $10.1B |
| Tax Assets | $27M |
| Other Non-Current Assets | $779M |
| TOTAL NON-CURRENT ASSETS | $12.0B |
| TOTAL ASSETS | $47.8B |
| Account Payables | $19.9B |
| Short-Term Debt | $489M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $21.4B |
| Long-Term Debt | $19.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $102M |
| Other Non-Current Liabilities | $4.0B |
| TOTAL NON-CURRENT LIABILITIES | $23.8B |
| TOTAL LIABILITIES | $45.3B |
| Common Stock | $500.0K |
| Additional Paid-In Capital | $740M |
| Retained Earnings | $1.8B |
| Treasury Stock | -$33M |
| Accum. Other Comp. Income | -$19M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.5B |
| TOTAL LIABILITIES & EQUITY | $47.8B |
| Total Debt | $20.2B |
| Net Debt | $18.7B |
