Revenue Performance: Q1 2024 revenues of $3.66 billion, down 16% YoY and down 10% sequentially.
Net Income: Reported net income at $1.1 billion, translating to an EPS of $1.20.
Gross Profit Margin: Decreased to 57% from 64% YoY, impacted by lower revenue and higher manufacturing costs.
Operating Income: $1.3 billion, representing a 34% decline YoY.
Free Cash Flow: Stable at approximately $940 million over the trailing twelve months, demonstrating effective cash flow management.
Debt and Cash Position: Total debt of $14.3 billion with $10.4 billion in cash and short-term investments, providing a strong liquidity position.
Total Current Assets reached $17.45 billion, supported by strong working capital management. The company maintains a current ratio of 4.91, indicating solid short-term financial health.