Three-Statement Breakdown
REVENUE DOWN
Revenue fell 2.0% year over year to $4.2B, and carried a 3.8% net margin.
REVENUE
-2.0%
4,209
GROSS PROFIT
-3.2%
1,612
NET INCOME
-49.6%
160
EPS (DILUTED)
-50.1%
$2.69
| Income statement | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
|
2,023 | 2,204 | 2,485 | 3,737 | 4,565 | 4,023 | 4,296 | 4,209 | -2.0% |
| Cost of revenue |
|
(1,298) | (1,407) | (1,528) | (2,377) | (3,043) | (2,657) | (2,630) | (2,597) | -1.2% |
| Gross profit |
|
725 | 798 | 958 | 1,360 | 1,522 | 1,365 | 1,666 | 1,612 | -3.2% |
| Research & development |
|
(50) | (68) | (80) | (104) | (160) | (173) | (220) | (243) | +10.9% |
| SG&A |
|
(104) | (109) | (118) | (144) | (196) | (253) | (285) | (422) | +48.1% |
| Operating income |
|
357 | 372 | 479 | 721 | 566 | 386 | 537 | 289 | -46.1% |
| Interest expense |
|
(41) | (42) | (33) | (33) | (55) | (98) | (90) | (71) | -21.2% |
| Income tax |
|
(70) | (67) | (99) | (135) | (100) | (73) | (92) | (38) | -59.2% |
| Net income |
|
238 | 252 | 351 | 550 | 400 | 215 | 316 | 160 | -49.6% |
| EPS (diluted) |
|
$3.54 | $4.03 | $5.48 | $8.30 | $5.42 | $3.27 | $5.39 | $2.69 | -50.1% |
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SELECTED · GROSS PROFIT · YoY BRIDGE
FROM1,666
REVENUE-87
COST OF REVENUE+33
TO1,612
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SRC 10-Q FILED 2026-08-04 ↗