Total revenues increased 9.2% to $2.82 billion in 2025 from $2.59 billion in 2024. Operating profit rose 22.9% to $431.6 million in 2025, with adjusted operating profit up 20.8% to $550.1 million. Net income for 2025 was $344.0 million, an increase of 17.1% from $293.8 million in 2024. Diluted earnings per share increased to $2.09 in 2025 from $1.77 in 2024, while adjusted diluted EPS grew to $2.46 from $2.01. The company ended 2025 with approximately 12.78 million total subscribers, including 12.21 million digital-only subscribers, a net increase of 1.4 million digital-only subscribers from 2024. Digital-only average revenue per user (ARPU) grew 2.7% year-over-year to $9.68. Total subscription revenues increased 9.1% to $1.95 billion, with digital-only subscription revenues up 14.3% to $1.43 billion. Total advertising revenues increased 11.8% to $566.0 million, primarily due to a 20.0% increase in digital advertising revenues to $410.6 million. Print advertising revenues decreased 5.4% to $155.4 million, continuing secular trends. Affiliate, licensing and other revenues increased 5.7% to $308.1 million, driven by higher licensing revenues. Net cash from operating activities was $584.5 million in 2025, up from $410.5 million in 2024. Free cash flow increased to $550.5 million in 2025 from $381.3 million in 2024. The Board of Directors approved a quarterly dividend of $0.23 per share in February 2026, an increase of $0.05 per share from the previous quarter. The company repurchased approximately $165.3 million of Class A Common Stock in 2025, with $308.2 million remaining under the 2025 authorization. The company recorded $13.3 million in Generative AI Litigation Costs in 2025, up from $10.8 million in 2024, related to lawsuits against Microsoft/OpenAI and Perplexity AI.