> 1.5B net on $100B revenue is not great. 1.5%? If that's not struggling, it's uncomfortably close.

You're misreading. $100B annual revenue. 1.5B quarterly new income.

Q3 2025 was record revenue of $27B (up 12% YoY). Operating margin was 5.8% (down from 10.8 Q3 2024).

Why the lower profitability? Higher expenses for AI and R&D costs, lower EV prices (very strong competition), etc.