Earnings

Total operating expenses fell about USD 24 million, or 2%, as savings in programming, customer service, sales and marketing, and general and administrative lines more than covered higher revenue share costs tied to podcasting and off-platform activity. Adjusted EBITDA reached USD 694 million with …

Total adjusted EBIT was USD 235 million, up 6%. Corporate expense, excluding announcedAcquisitioncosts, was about USD 6 million below the prior year, partly on theReversalof corporate development costs tied to the Trivium deal.

Net revenue, which strips out billable costs, rose 8.1% to USD 664.0 million, with organic growth of USD 45.7 million, or 7.4%, and USD 4.3 million from acquisitions. The Marketing Cloud more than doubled, up 108.4% organically, on software sales tied to The Machine …

Gross margin of 37.3% rose 250 basis points from the prior quarter, with about 60 basis points of unused capacity charges and about 40 basis points of nonrecurring costs from theManufacturingreshaping program.Operating Incomewas USD 367 million after USD 55 million of impairment, restructuring and …

New launches, defined as products introduced in the past five years, made up 4% of revenue and grew 17.3% at constant rates. Core in-line brands, including ENTYVIO, immunoglobulin and TAKHZYRO, represented 58% of revenue and grew 0.5%. Those gains only partly offset the loss …

Below the operating line the picture was weaker. Non-GAAP net loss attributable to the company was USD 36 million, compared with non-GAAPNet Incomeof USD 136 million a year earlier, after other expense of USD 190 million and income tax expense of USD 136 million.

Consolidated adjusted EBITDA was USD 1.355 billion, with Hospital Operations at USD 818 million and the USPI ambulatory segment at USD 537 million, up 9.1% at a 39.2% margin. Adjusted EBITDAMarginwas 21.8%. SameFacilityrevenue at USPI rose 4.5%, with net revenue per case up 6.1% …