| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.7B | $4.2B | $4.4B | -60.5% | -62.5% |
| Op. Income | $885M | $801M | $810M | 10.5% | 9.2% |
| Gross Margin | 112.3% | 46.2% | 42.5% | 66.0pp | 69.8pp |
| Net Margin | 50.4% | 15.0% | 13.7% | 35.4pp | 36.6pp |
| EPS (Diluted) | $3.34 | $2.48 | $2.35 | 34.8% | 42.0% |
| Free Cash Flow | $5.9B | -$1.5B | -$19.1B | 493.8% | 130.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.7B |
| Cost of Revenue | $2.5B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $31M |
| General & Administrative | $713M |
| SG&A Expenses | $744M |
| Other Expenses | $96M |
| Operating Expenses | $840M |
| Cost & Expenses | $782M |
| OPERATING INCOME | $885M |
| Interest Income | $3.6B |
| Interest Expense | $2.1B |
| Other Income/Expenses | $147M |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $160M |
| Net Income from Continuing Ops | $872M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $840M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $815M |
| D&A | $213M |
| EBIT | $654M |
| EBITDA | $1.2B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $1.7B |
| Cost of Revenue | $2.5B |
| GROSS PROFIT | $1.9B |
| R&D Expenses | $0 |
| Selling & Marketing | $31M |
| General & Administrative | $713M |
| SG&A Expenses | $744M |
| Other Expenses | $96M |
| Operating Expenses | $840M |
| Cost & Expenses | $782M |
| OPERATING INCOME | $885M |
| Interest Income | $3.6B |
| Interest Expense | $2.1B |
| Other Income/Expenses | $147M |
| INCOME BEFORE TAX | $1.0B |
| Income Tax Expense | $160M |
| Net Income from Continuing Ops | $872M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $840M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $815M |
| D&A | $213M |
| EBIT | $654M |
| EBITDA | $1.2B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $840M |
| Depreciation & Amortization | $213M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | $4.8B |
| OPERATING CASH FLOW | $5.9B |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | -$591M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1.3B |
| NET CASH FROM INVESTING | -$1.9B |
| Net Debt Issuance | -$1.5B |
| Common Stock Repurchased | -$271M |
| Common Dividends Paid | -$124M |
| Other Financing Activities | -$2.9B |
| NET CASH FROM FINANCING | -$4.8B |
| FREE CASH FLOW | $5.9B |
| Net Change in Cash | -$524M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $19.9B |
| Short-Term Investments | $50.1B |
| Net Receivables | $15.9B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $86.1B |
| PP&E (Net) | $5.1B |
| Goodwill | $0 |
| Intangible Assets | $730M |
| Long-Term Investments | $292.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $12.0B |
| TOTAL NON-CURRENT ASSETS | $310.1B |
| TOTAL ASSETS | $396.2B |
| Account Payables | $11.9B |
| Short-Term Debt | $2.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $250.3B |
| TOTAL CURRENT LIABILITIES | $267.6B |
| Long-Term Debt | $55.8B |
| Deferred Revenue NC | $236M |
| Deferred Tax Liabilities | $369M |
| Other Non-Current Liabilities | $317.2B |
| TOTAL NON-CURRENT LIABILITIES | $103.5B |
| TOTAL LIABILITIES | $371.1B |
| Common Stock | $2.6B |
| Additional Paid-In Capital | $631M |
| Retained Earnings | $19.3B |
| Treasury Stock | -$24M |
| Accum. Other Comp. Income | $1.4B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $23.9B |
| Minority Interest | $1.2B |
| TOTAL EQUITY | $25.1B |
| TOTAL LIABILITIES & EQUITY | $396.2B |
| Total Debt | $58.4B |
| Net Debt | $38.6B |
