| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.8B | $3.7B | $3.4B | 2.7% | 10.8% |
| Op. Income | $667M | $522M | $474M | 27.9% | 40.6% |
| Gross Margin | 18.2% | 18.4% | 21.1% | -0.2pp | -2.9pp |
| Net Margin | 13.6% | 10.9% | 10.8% | 2.6pp | 2.8pp |
| EPS (Diluted) | $1.28 | $1.00 | $0.91 | 28.0% | 40.7% |
| Free Cash Flow | $1.1B | $683M | $1.2B | 64.4% | -8.5% |
| Item | Amount |
|---|---|
| REVENUE | $3.8B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $687M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $20M |
| Operating Expenses | $20M |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $667M |
| Interest Income | $0 |
| Interest Expense | $32M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $648M |
| Income Tax Expense | $136M |
| Net Income from Continuing Ops | $512M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $511M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $511M |
| D&A | -$9M |
| EBIT | $679M |
| EBITDA | $671M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $3.8B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $687M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $20M |
| Operating Expenses | $20M |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $667M |
| Interest Income | $0 |
| Interest Expense | $32M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $648M |
| Income Tax Expense | $136M |
| Net Income from Continuing Ops | $512M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $511M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $511M |
| D&A | -$9M |
| EBIT | $679M |
| EBITDA | $671M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $511M |
| Depreciation & Amortization | -$9M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $992M |
| Change in Working Capital | -$367M |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | -$17M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$2.6B |
| Sales/Maturities of Investments | $506M |
| Other Investing Activities | $1.5B |
| NET CASH FROM INVESTING | -$628M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | -$25M |
| Common Dividends Paid | -$34M |
| Other Financing Activities | -$35M |
| NET CASH FROM FINANCING | -$95M |
| FREE CASH FLOW | $1.1B |
| Net Change in Cash | $419M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $26.0B |
| Net Receivables | $7.4B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $36.6B |
| PP&E (Net) | $493M |
| Goodwill | $184M |
| Intangible Assets | $1.0B |
| Long-Term Investments | $4.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $885M |
| TOTAL NON-CURRENT ASSETS | $7.1B |
| TOTAL ASSETS | $43.7B |
| Account Payables | $626M |
| Short-Term Debt | $0 |
| Deferred Revenue | $6.9B |
| Other Current Liabilities | $18.6B |
| TOTAL CURRENT LIABILITIES | $26.2B |
| Long-Term Debt | $2.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.9B |
| TOTAL NON-CURRENT LIABILITIES | $7.7B |
| TOTAL LIABILITIES | $33.9B |
| Common Stock | $159M |
| Additional Paid-In Capital | $982M |
| Retained Earnings | $13.3B |
| Treasury Stock | -$4.1B |
| Accum. Other Comp. Income | -$506M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9.8B |
| Minority Interest | $6M |
| TOTAL EQUITY | $9.8B |
| TOTAL LIABILITIES & EQUITY | $43.7B |
| Total Debt | $2.8B |
| Net Debt | $436M |
