| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.6B | $5.7B | $5.7B | -2.7% | -1.4% |
| Op. Income | $918M | $1.1B | $960M | -16.7% | -4.4% |
| Gross Margin | 65.0% | 61.5% | 59.9% | 3.5pp | 5.1pp |
| Net Margin | 13.4% | 15.0% | 13.8% | -1.6pp | -0.4pp |
| EPS (Diluted) | $2.41 | $2.78 | $2.46 | -13.3% | -2.0% |
| Free Cash Flow | $1.2B | $8.1B | -$7.7B | -85.3% | 115.5% |
| Item | Amount |
|---|---|
| REVENUE | $5.6B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $59M |
| General & Administrative | $1.5B |
| SG&A Expenses | $1.5B |
| Other Expenses | $1.2B |
| Operating Expenses | $2.7B |
| Cost & Expenses | $4.7B |
| OPERATING INCOME | $918M |
| Interest Income | $2.7B |
| Interest Expense | $1.9B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $918M |
| Income Tax Expense | $171M |
| Net Income from Continuing Ops | $747M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $747M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $688M |
| D&A | $190M |
| EBIT | $918M |
| EBITDA | $1.1B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $5.6B |
| Cost of Revenue | $2.0B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $59M |
| General & Administrative | $1.5B |
| SG&A Expenses | $1.5B |
| Other Expenses | $1.2B |
| Operating Expenses | $2.7B |
| Cost & Expenses | $4.7B |
| OPERATING INCOME | $918M |
| Interest Income | $2.7B |
| Interest Expense | $1.9B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $918M |
| Income Tax Expense | $171M |
| Net Income from Continuing Ops | $747M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $747M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $688M |
| D&A | $190M |
| EBIT | $918M |
| EBITDA | $1.1B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $747M |
| Depreciation & Amortization | $327M |
| Stock-Based Compensation | $286M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$8.9B |
| Change in Working Capital | $9.0B |
| OPERATING CASH FLOW | $1.5B |
| Capital Expenditure | -$267M |
| Acquisitions (Net) | -$286M |
| Purchases of Investments | -$7.6B |
| Sales/Maturities of Investments | $14.0B |
| Other Investing Activities | -$3.0B |
| NET CASH FROM INVESTING | $2.0B |
| Net Debt Issuance | -$4.9B |
| Common Stock Repurchased | -$419M |
| Common Dividends Paid | -$237M |
| Other Financing Activities | $1.8B |
| NET CASH FROM FINANCING | -$3.8B |
| FREE CASH FLOW | $1.2B |
| Net Change in Cash | -$323M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.4B |
| Short-Term Investments | $45.9B |
| Net Receivables | $43.2B |
| Inventory | $0 |
| Other Current Assets | -$39.7B |
| TOTAL CURRENT ASSETS | $54.7B |
| PP&E (Net) | $3.2B |
| Goodwill | $8.2B |
| Intangible Assets | $935M |
| Long-Term Investments | $286.8B |
| Tax Assets | $0 |
| Other Non-Current Assets | $12.3B |
| TOTAL NON-CURRENT ASSETS | $311.3B |
| TOTAL ASSETS | $366.0B |
| Account Payables | $0 |
| Short-Term Debt | $4.7B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $274.4B |
| TOTAL CURRENT LIABILITIES | $279.0B |
| Long-Term Debt | $25.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $34.1B |
| TOTAL NON-CURRENT LIABILITIES | $59.2B |
| TOTAL LIABILITIES | $338.2B |
| Common Stock | $504M |
| Additional Paid-In Capital | $10.7B |
| Retained Earnings | $31.4B |
| Treasury Stock | -$17.3B |
| Accum. Other Comp. Income | -$1.0B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $27.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $27.8B |
| TOTAL LIABILITIES & EQUITY | $366.0B |
| Total Debt | $29.8B |
| Net Debt | $25.4B |
