๐น Revenue: $11.08B (Est. $11.07B) ๐ข; UP +16% YoY
๐น EPS: $7.19 (Est. $7.08) ๐ข; UP +47% YoY
๐น Free Cash Flow: $2.27B (Est. $2.17B) ๐ข; UP +87% YoY
Raised FY25 Guidance
๐น Revenue: $44.8Bโ$45.2B (Est. $44.56B) ๐ข; from $43.5Bโ$44.5B
๐น Operating Margin: 29.5% (Est. 29.7%) ๐ก; from 29%
๐น Free Cash Flow: $8.0Bโ$8.5B (Est. $8.91B) ๐ด; from ~$8.0B
Q3'25 Guidance
๐น Revenue: $11.53B (Est. $11.28B) ๐ข
๐น EPS: $6.87 (Est. $6.70) ๐ข
๐น Operating Income: $3.63B (Est. $3.47B) ๐ข
๐น Operating Margin: 31.5% (Est. 31.4%) ๐ข
Q2 Segment Revenue (YoY)
๐น U.S. & Canada: $4.93B (Est. $4.89B) ๐ข; UP +15% YoY
๐น EMEA: $3.54B (Est. $3.50B) ๐ข; UP +18% YoY
๐น Latin America: $1.31B (Est. $1.34B) ๐ด; UP +8.6% YoY
๐น APAC: $1.31B (Est. $1.32B) ๐ด; UP +24% YoY
Other Key Q2 Metrics:
๐น Operating Income: $3.78B (Est. $3.69B) ๐ข; UP +45% YoY
๐น Operating Margin: 34.1% (Est. 33.6%) ๐ข; UP +6.9ppts YoY
๐น Operating Cash Flow: $2.42B (Est. $2.38B) ๐ข; UP +88% YoY
Commentary:
๐ธ โWeโre raising our FY forecast for revenue and operating margin, primarily due to the depreciation of the U.S. dollar and ongoing business momentum.โ
๐ธ โWe still expect ad revenue to double in 2025.โ
๐ธ โResponse to our recent price adjustments has been broadly in line with expectations.โ
๐ธ โOur streaming model continues to scale profitably with improved engagement and monetization.โ