| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11.0B | $11.0B | $10.7B | -0.3% | 2.9% |
| Op. Income | $2.5B | $2.5B | $2.1B | 0.0% | 20.2% |
| Gross Margin | 66.8% | 61.1% | 60.2% | 5.7pp | 6.7pp |
| Net Margin | 18.7% | 18.2% | 15.6% | 0.5pp | 3.1pp |
| EPS (Diluted) | $1.26 | $1.21 | $1.01 | 4.1% | 24.8% |
| Free Cash Flow | $2.8B | $3.4B | $4.8B | -16.3% | -40.5% |
| Item | Amount |
|---|---|
| REVENUE | $11.0B |
| Cost of Revenue | $3.6B |
| GROSS PROFIT | $7.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $187M |
| General & Administrative | $4.0B |
| SG&A Expenses | $4.2B |
| Other Expenses | $577M |
| Operating Expenses | $4.8B |
| Cost & Expenses | $8.4B |
| OPERATING INCOME | $2.5B |
| Interest Income | $7.9B |
| Interest Expense | $3.6B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.5B |
| Income Tax Expense | $482M |
| Net Income from Continuing Ops | $2.1B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.1B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.0B |
| D&A | $126M |
| EBIT | $2.5B |
| EBITDA | $2.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $11.0B |
| Cost of Revenue | $3.6B |
| GROSS PROFIT | $7.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $187M |
| General & Administrative | $4.0B |
| SG&A Expenses | $4.2B |
| Other Expenses | $577M |
| Operating Expenses | $4.8B |
| Cost & Expenses | $8.4B |
| OPERATING INCOME | $2.5B |
| Interest Income | $7.9B |
| Interest Expense | $3.6B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $2.5B |
| Income Tax Expense | $482M |
| Net Income from Continuing Ops | $2.1B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.1B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.0B |
| D&A | $126M |
| EBIT | $2.5B |
| EBITDA | $2.7B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $2.0B |
| Depreciation & Amortization | $227M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $564M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $2.8B |
| Capital Expenditure | $0 |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | -$11.9B |
| Sales/Maturities of Investments | $4.6B |
| Other Investing Activities | -$9.6B |
| NET CASH FROM INVESTING | -$16.9B |
| Net Debt Issuance | -$898M |
| Common Stock Repurchased | -$122M |
| Common Dividends Paid | -$813M |
| Other Financing Activities | -$4.5B |
| NET CASH FROM FINANCING | -$6.4B |
| FREE CASH FLOW | $2.8B |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $46.9B |
| Short-Term Investments | $90.8B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $137.7B |
| PP&E (Net) | $3.8B |
| Goodwill | $12.6B |
| Intangible Assets | $4.9B |
| Long-Term Investments | $454.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $79.1B |
| TOTAL NON-CURRENT ASSETS | $554.6B |
| TOTAL ASSETS | $692.3B |
| Account Payables | $0 |
| Short-Term Debt | $17.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $522.2B |
| TOTAL CURRENT LIABILITIES | $539.4B |
| Long-Term Debt | $60.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $26.6B |
| TOTAL NON-CURRENT LIABILITIES | $87.3B |
| TOTAL LIABILITIES | $626.7B |
| Common Stock | $21M |
| Additional Paid-In Capital | $8.7B |
| Retained Earnings | $80.9B |
| Treasury Stock | -$24.3B |
| Accum. Other Comp. Income | -$7.0B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $65.2B |
| Minority Interest | $458M |
| TOTAL EQUITY | $65.7B |
| TOTAL LIABILITIES & EQUITY | $692.3B |
| Total Debt | $77.9B |
| Net Debt | $31.0B |
