Revenue and profitability:
- Revenue: $7.302B; YoY +3.65%, QoQ +2.85%
- Gross profit: $3.562B; gross margin 48.78%; YoY +6.81%, QoQ +2.21%
- Operating income: $2.233B; operating margin 30.58%; YoY +9.14%, QoQ +2.95%
- Net income: $1.779B; net margin 24.36%; YoY +2.77%, QoQ -16.75%
- Diluted EPS: $2.21; YoY +5.21%, QoQ -15.91%
Cash flow and capital returns:
- Operating cash flow: $2.385B; Free cash flow: $2.089B; Capex: $0.297B
- FCF per share: $2.59; Dividends paid: $0.368B; Shares repurchased: $1.056B
- Net change in cash: $1.203B; Cash at end of period: $8.378B; Cash at beginning: $7.175B
Balance sheet and leverage:
- Total assets: $34.211B; Total debt: $6.763B; Net debt: $1.379B
- Cash and equivalents: $5.384B; Short-term investments: $1.630B; Total current assets: $19.718B
- Total equity: $19.504B; Current ratio: 2.50; Quick ratio: 1.765; Debt-to-equity: 0.347; Interest coverage: 33.83x
Valuation and efficiency:
- P/B: 7.87x; P/S: 21.03x; P/E: 21.58x; EV/EBITDA: 63.99x; Dividend yield: 0.24%
- Asset turnover: 0.213x; ROE: 9.12%; ROA: 5.20%; FCF yield: ~28.6%
- Free cash flow margin: ~28.6%; FCF/debt: favorable given scale; Capital expenditure coverage ratio: 8.03x