Syndication 
Q4 revenue grew 34 percent year over year to $10.27 billion, while GAAP profits rose 44 percent to $5.57 billion. Gross margin improved from 51 percent to 54 percent, and operating income increased to $1.75 billion from $871 million. Diluted earnings per share (EPS) reached $0.92, up from $0.29 in Q4 2024.
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