Three-Statement Breakdown
REVENUE DOWN
Revenue fell 2.2% year over year to $4.1B, and carried a 11.7% net margin.
REVENUE
-2.2%
4,087
GROSS PROFIT
-2.2%
1,682
NET INCOME
-19.9%
477
EPS (DILUTED)
-16.5%
$3.08
| Income statement | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
|
3,868 | 3,377 | 3,356 | 5,109 | 5,486 | 4,772 | 4,178 | 4,087 | -2.2% |
| Cost of revenue |
|
(1,917) | (1,773) | (1,743) | (2,597) | (2,881) | (2,665) | (2,457) | (2,405) | -2.1% |
| Gross profit |
|
1,951 | 1,604 | 1,613 | 2,512 | 2,604 | 2,107 | 1,721 | 1,682 | -2.2% |
| Research & development |
|
(404) | (424) | (464) | (532) | (618) | (607) | (632) | (786) | +24.3% |
| SG&A |
|
(208) | (198) | (231) | (322) | (330) | (314) | (301) | (372) | +23.5% |
| Operating income |
|
1,319 | 952 | 892 | 1,613 | 1,527 | 1,125 | 637 | 500 | -21.6% |
| Interest expense |
NOT DISCLOSED
|
— | (0) | (0) | -13 | (48) | (64) | (31) | (27) | -11.7% |
| Income tax |
|
(414) | (107) | (77) | (100) | (201) | (96) | (40) | (50) | +22.8% |
| Net income |
|
918 | 854 | 815 | 1,498 | 1,275 | 983 | 596 | 477 | -19.9% |
| EPS (diluted) |
|
$5.01 | $4.89 | $4.80 | $8.97 | $7.81 | $6.13 | $3.69 | $3.08 | -16.5% |
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SELECTED · GROSS PROFIT · YoY BRIDGE
FROM1,721
REVENUE-91
COST OF REVENUE+52
TO1,682
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SRC 10-Q FILED 2026-07-28 ↗