| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $21.2B | $21.5B | $21.8B | -1.5% | -2.5% |
| Op. Income | $1.8B | $1.7B | $1.9B | 9.4% | -5.5% |
| Gross Margin | 17.8% | 17.1% | 17.3% | 0.7pp | 0.5pp |
| Net Margin | 6.0% | 5.5% | 6.5% | 0.5pp | -0.4pp |
| EPS (Diluted) | $1.51 | $1.40 | $1.64 | 7.9% | -7.9% |
| Free Cash Flow | -$775M | $1.4B | $1.1B | -153.7% | -173.1% |
| Item | Amount |
|---|---|
| REVENUE | $21.2B |
| Cost of Revenue | $17.4B |
| GROSS PROFIT | $3.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.0B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $19.4B |
| OPERATING INCOME | $1.8B |
| Interest Income | $0 |
| Interest Expense | $236M |
| Other Income/Expenses | -$160M |
| INCOME BEFORE TAX | $1.7B |
| Income Tax Expense | $379M |
| Net Income from Continuing Ops | $1.3B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.3B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.3B |
| D&A | $936M |
| EBIT | $1.9B |
| EBITDA | $2.8B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $21.2B |
| Cost of Revenue | $17.4B |
| GROSS PROFIT | $3.8B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.0B |
| Operating Expenses | $2.0B |
| Cost & Expenses | $19.4B |
| OPERATING INCOME | $1.8B |
| Interest Income | $0 |
| Interest Expense | $236M |
| Other Income/Expenses | -$160M |
| INCOME BEFORE TAX | $1.7B |
| Income Tax Expense | $379M |
| Net Income from Continuing Ops | $1.3B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.3B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.3B |
| D&A | $936M |
| EBIT | $1.9B |
| EBITDA | $2.8B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.3B |
| Depreciation & Amortization | $936M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$44M |
| Other Non-Cash Items | -$392M |
| Change in Working Capital | -$1.4B |
| OPERATING CASH FLOW | $348M |
| Capital Expenditure | -$1.1B |
| Acquisitions (Net) | $25M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $171M |
| Other Investing Activities | $4M |
| NET CASH FROM INVESTING | -$923M |
| Net Debt Issuance | $3.1B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$1.3B |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $1.8B |
| FREE CASH FLOW | -$775M |
| Net Change in Cash | $1.4B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6.2B |
| Short-Term Investments | $92M |
| Net Receivables | $10.4B |
| Inventory | $0 |
| Other Current Assets | $2.1B |
| TOTAL CURRENT ASSETS | $18.9B |
| PP&E (Net) | $41.7B |
| Goodwill | $4.8B |
| Intangible Assets | $3.4B |
| Long-Term Investments | $0 |
| Tax Assets | $142M |
| Other Non-Current Assets | $2.1B |
| TOTAL NON-CURRENT ASSETS | $52.1B |
| TOTAL ASSETS | $70.9B |
| Account Payables | $6.0B |
| Short-Term Debt | $920M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3.3B |
| TOTAL CURRENT LIABILITIES | $14.2B |
| Long-Term Debt | $23.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.5B |
| Other Non-Current Liabilities | $10.2B |
| TOTAL NON-CURRENT LIABILITIES | $40.9B |
| TOTAL LIABILITIES | $55.1B |
| Common Stock | $9M |
| Additional Paid-In Capital | $84M |
| Retained Earnings | $19.8B |
| Treasury Stock | -$4M |
| Accum. Other Comp. Income | -$4.2B |
| Other Equity | $4M |
| TOTAL STOCKHOLDERS' EQUITY | $15.8B |
| Minority Interest | $27M |
| TOTAL EQUITY | $15.8B |
| TOTAL LIABILITIES & EQUITY | $70.9B |
| Total Debt | $28.9B |
| Net Debt | $22.7B |
