| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.8B | $4.8B | $4.9B | -1.4% | -3.1% |
| Op. Income | $952M | $1.4B | $973M | -33.4% | -2.2% |
| Gross Margin | 49.3% | 55.4% | 45.5% | -6.0pp | 3.8pp |
| Net Margin | 15.8% | 22.3% | 15.7% | -6.5pp | 0.0pp |
| EPS (Diluted) | $2.04 | $2.86 | $1.91 | -28.7% | 6.8% |
| Free Cash Flow | $2.5B | $2.6B | $2.4B | -6.9% | 4.3% |
| Item | Amount |
|---|---|
| REVENUE | $4.8B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $148M |
| General & Administrative | $575M |
| SG&A Expenses | $723M |
| Other Expenses | $676M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $3.8B |
| OPERATING INCOME | $952M |
| Interest Income | $5.7B |
| Interest Expense | $973M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $952M |
| Income Tax Expense | $201M |
| Net Income from Continuing Ops | $751M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $751M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $730M |
| D&A | $139M |
| EBIT | $952M |
| EBITDA | $1.1B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $4.8B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $148M |
| General & Administrative | $575M |
| SG&A Expenses | $723M |
| Other Expenses | $676M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $3.8B |
| OPERATING INCOME | $952M |
| Interest Income | $5.7B |
| Interest Expense | $973M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $952M |
| Income Tax Expense | $201M |
| Net Income from Continuing Ops | $751M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $751M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $730M |
| D&A | $139M |
| EBIT | $952M |
| EBITDA | $1.1B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $751M |
| Depreciation & Amortization | $139M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $13M |
| Other Non-Cash Items | $1.1B |
| Change in Working Capital | $467M |
| OPERATING CASH FLOW | $2.5B |
| Capital Expenditure | $0 |
| Acquisitions (Net) | -$161M |
| Purchases of Investments | -$10M |
| Sales/Maturities of Investments | $381M |
| Other Investing Activities | -$4.9B |
| NET CASH FROM INVESTING | -$4.6B |
| Net Debt Issuance | $747M |
| Common Stock Repurchased | -$962M |
| Common Dividends Paid | -$106M |
| Other Financing Activities | $1.3B |
| NET CASH FROM FINANCING | $918M |
| FREE CASH FLOW | $2.5B |
| Net Change in Cash | -$1.3B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $15.0B |
| Short-Term Investments | $2.3B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $17.3B |
| PP&E (Net) | $0 |
| Goodwill | $1.4B |
| Intangible Assets | $1.3B |
| Long-Term Investments | $93.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $5.8B |
| TOTAL NON-CURRENT ASSETS | $101.8B |
| TOTAL ASSETS | $119.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $81.1B |
| TOTAL CURRENT LIABILITIES | $81.1B |
| Long-Term Debt | $15.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6.0B |
| TOTAL NON-CURRENT LIABILITIES | $21.2B |
| TOTAL LIABILITIES | $102.3B |
| Common Stock | $1M |
| Additional Paid-In Capital | $8.9B |
| Retained Earnings | $24.6B |
| Treasury Stock | -$18.0B |
| Accum. Other Comp. Income | -$48M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $16.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $16.8B |
| TOTAL LIABILITIES & EQUITY | $119.1B |
| Total Debt | $15.2B |
| Net Debt | $209M |
