v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income including redeemable non-controlling interests $ 382 $ 476
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 564 311
Stock-based compensation 580 517
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities 72 53
Amortization of deferred contract costs 44 36
Office lease impairment expenses 1 7
Other 8 (44)
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:    
Funds held at payment processors 68 128
Accounts receivable, net (12) (90)
Prepaid expenses and other current assets 16 (47)
Other assets (68) (142)
Accounts payable (99) 25
Accrued expenses and other current liabilities 84 10
Payments for operating lease liabilities (79) (58)
Other liabilities (23) (43)
Net cash provided by operating activities 1,538 1,139
Cash flows from investing activities    
Purchases of property and equipment (118) (140)
Capitalized software and website development costs (258) (150)
Purchases of investments (591) (725)
Maturities of investments 729 801
Sales of investments 29 286
Purchases of non-marketable investments (55) 0
Acquisitions, net of cash acquired (30) (1,173)
Other investing activities 8 0
Net cash used in investing activities (286) (1,101)
Cash flows from financing activities    
Proceeds from issuance of convertible notes, net of issuance costs 0 2,722
Proceeds from issuance of warrants 0 341
Purchase of convertible note hedges 0 (680)
Proceeds from exercise of stock options 2 5
Repurchase of common stock (1,049) 0
Payments of acquisition-related deferred cash consideration (20) 0
Other financing activities (2) (10)
Net cash provided by (used in) financing activities (1,069) 2,378
Foreign currency effect on cash and cash equivalents, and restricted cash and cash equivalents (18) 63
Net increase in cash and cash equivalents, and restricted cash and cash equivalents 165 2,479
Beginning of period 4,681 4,221
End of period $ 4,846 $ 6,700