Note: All figures are in billions of U.S. dollars. The figure for fiscal year 2025 is an estimate based on company guidance for total expenses. The cost of revenue for 2024 was approximately 31.7% of total costs and expenses. The 2025 estimate is derived by applying this percentage to the midpoint of the projected total expense range of $114-119 billion for the year. Historical data is sourced from company filings. The most recent quarterly financial results for the period ending March 31, 2025, were released on April 30, 2025. The second quarter 2025 results are scheduled to be released on July 30, 2025.