NYSE:T · New York Stock Exchange
-$0.30 today
Vol 57.09M · Avg 49.74M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:T · Revenue to Net Income
Key Ratios
Analysis
$126.5B of revenue converted into $21.4B of net income for the selected period. Gross margin is 77.7% and net margin is 17.0%, showing how much revenue survives after costs and taxes. EPS is $2.97, tying the income statement back to per-share earnings.
Revenue
—
Operating Income
—
Net Income
—
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $125.6B +2.7% | $122.3B -0.1% | $122.4B +1.4% | $120.7B -9.9% | $134.0B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $25.4B -63.6% | $69.8B +1.3% | $68.9B +35.5% | $50.8B -15.8% | $60.4B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $100.2B +90.8% | $52.5B -1.9% | $53.5B -23.4% | $69.9B -5.1% | $73.6B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 79.8% +36.8pp | 42.9% -0.8pp | 43.7% -14.2pp | 57.9% +3.0pp | 54.9% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 -100.0% | $955.0M +0.1% | $954.0M -22.8% | $1.2B -6.7% | $1.3B | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $28.9B +5.9% | $27.3B -1.8% | $27.8B -4.0% | $29.0B -2.4% | $29.7B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $76.1B +169.0% | $28.3B -1.7% | $28.8B -61.4% | $74.5B +56.0% | $47.7B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $20.9B +1.5% | $20.6B +9.6% | $18.8B +4.2% | $18.0B +0.9% | $17.9B | $374.2M | $1.2B | $631.8M |
| EBITDA | $54.7B +24.2% | $44.0B -2.9% | $45.3B +115.1% | $21.1B -60.8% | $53.7B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 43.5% +7.5pp | 36.0% -1.0pp | 37.0% +19.6pp | 17.4% -22.6pp | 40.1% | 5.6% | 46.3% | 42.0% |
| Operating Income | $24.2B -0.4% | $24.3B -2.0% | $24.8B +640.0% | -$4.6B -117.7% | $25.9B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 19.2% -0.6pp | 19.8% -0.4pp | 20.2% +24.0pp | -3.8% -23.1pp | 19.3% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $6.8B +0.9% | $6.7B +0.8% | $6.7B +9.0% | $6.1B -8.3% | $6.7B | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $2.8B +137.6% | -$7.6B -53.7% | -$4.9B -429.5% | $1.5B -54.4% | $3.3B | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $27.0B +61.7% | $16.7B -15.9% | $19.8B +741.5% | -$3.1B -110.6% | $29.2B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 21.5% +7.8pp | 13.6% -2.6pp | 16.2% +18.8pp | -2.6% -24.3pp | 21.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $3.6B -18.5% | $4.4B +5.2% | $4.2B +11.8% | $3.8B -29.9% | $5.4B | $1.3B | -$1.6B | $745.2M |
| Net Income | $21.9B +99.9% | $10.9B -24.0% | $14.4B +268.9% | -$8.5B -142.4% | $20.1B | $4.9B | $4.8B | $4.7B |
| Net Margin | 17.4% +8.5pp | 8.9% -2.8pp | 11.8% +18.8pp | -7.1% -22.0pp | 15.0% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 +104.0% | $1 -24.4% | $2 +261.5% | -$1 -144.0% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 +104.0% | $1 -24.4% | $2 +274.3% | -$1 -141.4% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $7.2B -0.4% | $7.2B +0.3% | $7.2B +0.2% | $7.2B -0.0% | $7.2B | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $7.2B -0.3% | $7.2B -0.7% | $7.3B -4.3% | $7.6B +1.1% | $7.5B | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
T-Mobile US, Inc.
NASDAQ:TMUS
$192.11B
Verizon Communications Inc.
NYSE:VZ
$177.71B
The Walt Disney Company
NYSE:DIS
$172.71B
Comcast Corporation
NASDAQ:CMCSA
$84.98B
América Móvil, S.A.B. de C.V.
NYSE:AMX
$77.24B
Telefônica Brasil S.A.
NYSE:VIV
$21.17B
Charter Communications, Inc.
NASDAQ:CHTR
$19.37B
Rogers Communications Inc.
NYSE:RCI
$17.08B
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
NYSE:TLK
$13.73B
TIM S.A.
NYSE:TIMB
$10.37B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does T generate?
AT&T Inc. (T) reported $125.65B of revenue in fiscal 2025.
Is T profitable?
AT&T Inc. (T) reported $21.89B of net income, with a net margin of 17.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.