### Revenue Performance
- Revenue: $2.90 billion, YoY down 7.85%, QoQ down 3.82%.
### Profitability Metrics
- Gross Profit: $823.1 million, a decline of 14.60% YoY but down only 7.89% QoQ.
- Operating Income: $489.0 million, showing a significant 14.40% fall YoY, but recovering 174.07% from the previous quarter.
- Net Income: $319.7 million, a remarkable increase of 51.26% YoY and a substantial 182.28% increase QoQ.
- EPS: $0.67, up 51.56% YoY and 182.20% QoQ.
### Balance Sheet Health
- Total Assets: $22.37 billion, demonstrating a solid asset base.
- Total Liabilities: $13.41 billion, with a manageable debt structure reflected through a debt-to-equity ratio of 1.04.
- Cash and Cash Equivalents: $93.3 million, slightly reduced from the preceding quarter.
### Cash Flow Insights
- Free Cash Flow: $299.9 million, indicating strong operational cash generation despite market headwinds.
Management attributed the improvements in net income primarily to disciplined cost management and strategic pricing decisions that helped offset declining revenue figures, indicating a keen response to market dynamics.