Friday 30 October 2026 Export T’s income statement to Excel — free account

AT&T Inc.

T Communication Services Telecom Services

AT&T Inc.’s revenue for fiscal 2025 (year ended December 2025) was $125.6 billion, up 2.71% from fiscal 2024. In the quarter to June 2026, revenue grew 2.30%, EPS grew 6.45%, free cash flow grew 4.83% and total debt rose 8.80%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, operating cash flow growth for three.

20.88 0.18 +0.87%

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Market cap: $140.9B
P/E: 6.9×
Fwd P/E: 10.4×
Dividend yield: 5.32%
F-score: 7/9
Altman Z: 0.89
Beneish M: −2.76
Dividend safety: 64/100

Overview Business Profile Financial Analysis Segments Filings

AT&T Inc. (T) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Communications	120,896	96.22%
Latin America	4,379	3.49%
Corporate & Other	373	0.30%
Gross margin		59.55%
Operating margin		19.23%
Pre-tax margin		21.49%

Revenue by product or service $m

Line	FY2021	FY2020	FY2019	FY2018	FY2017
Subscription Arrangement Service Revenue	—	—	—	42,170 24.70%	—
Advanced Data	—	—	—	20,350 11.92%	—
Also reported: a second breakdown of the same revenue
Wireless service	59,498 44.39%	57,726 40.35%	57,530 31.75%	56,482 33.08%	—
Business Service	23,294 17.38%	24,627 17.22%	25,441 14.04%	—	—
Other Capitalized Property Plant and Equipment	22,473 16.77%	18,993 13.28%	17,694 9.77%	18,411 10.78%	—
Video Service	15,423 11.51%	28,465 19.90%	34,545 19.07%	—	—
IP Broadband	9,085 6.78%	8,534 5.97%	8,403 4.64%	—	—
Legacy Voice and Data	2,406 1.80%	2,767 1.93%	3,138 1.73%	14,004 8.20%	—
Other service	1,859 1.39%	1,938 1.35%	3,190 1.76%	6,533 3.83%	—
Content Service	—	—	13,880 7.66%	8,384 4.91%	—
Subscription Service	—	—	10,402 5.74%	—	—
Advertising	—	—	6,970 3.85%	4,422 2.59%	—
Equipment	—	—	—	18,411	—
Service	111,565	124,057	163,499	—	—
Service	—	—	—	152,345	—
Revenue	134,038	143,050	181,193	170,756	160,546

Gross profit by product or service $m, and margin

	FY2021	FY2020	FY2019	FY2018	FY2017
Equipment	‡	‡	‡	‡	‡
Entertainment	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2018	FY2017	FY2016	FY2012	FY2011	FY2010	FY2009
Communications	120,896 96.22%	117,652 96.17%	118,038 96.41%	117,067 96.96%	114,730 85.60%	143,721 84.17%	149,457 93.09%	154,232 94.17%	—	—	—	—
Latin America	4,379 3.49%	4,232 3.46%	3,932 3.21%	3,144 2.60%	2,747 2.05%	7,652 4.48%	8,269 5.15%	7,283 4.45%	—	—	—	—
Corporate & Other	373 0.30%	452 0.37%	458 0.37%	530 0.44%	16,561 12.36%	—	—	—	—	—	—	—
WarnerMedia	—	—	—	—	—	20,585 12.06%	430 0.27%	418 0.26%	—	—	—	—
Xandr	—	—	—	—	—	—	1,373 0.86%	1,333 0.81%	—	—	—	—
Corporate, Non-Segment	—	—	—	—	—	—	—	(1,077) (0.66%)	—	—	—	—
Wireless	—	—	—	—	—	—	—	—	66,763 52.39%	63,215 49.88%	58,501 47.07%	53,504 43.67%
Wireline	—	—	—	—	—	—	—	—	59,573 46.75%	60,149 47.46%	61,761 49.70%	63,621 51.93%
Advertising Solutions	—	—	—	—	—	—	—	—	1,049 0.82%	3,293 2.60%	3,935 3.17%	4,724 3.86%
Other	—	—	—	—	—	—	—	—	—	66 0.05%	83 0.07%	664 0.54%
Consolidations	—	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%
Other, not broken out	—	—	—	—	—	—	1,017 0.63%	1,597 0.98%	—	—	—	—
Eliminations	—	—	—	—	—	(1,202) (0.70%)	—	—	—	—	—	—
Revenue	125,648	122,336	122,428	120,741	134,038	170,756	160,546	163,786	127,434	126,723	124,280	122,513

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2018	FY2017	FY2016	FY2012	FY2011	FY2010	FY2009
Communications	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Latin America	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate & Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
WarnerMedia	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Xandr	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Wireless	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Wireline	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Advertising Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Consolidations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
United States	120,219 95.68%	116,882 95.54%	117,097 95.65%	116,006 96.08%	129,157 96.36%	138,188 96.60%	161,689 89.24%	154,795 90.65%	149,841 93.33%	154,039 94.05%	140,234 95.53%	129,772 97.98%	126,212 98.03%
Mexico	4,428 3.52%	4,286 3.50%	3,993 3.26%	3,210 2.66%	2,824 2.11%	2,651 1.85%	3,198 1.76%	3,100 1.82%	2,913 1.81%	2,472 1.51%	2,046 1.39%	94 0.07%	90 0.07%
Asia/Pacific Rim	395 0.31%	462 0.38%	521 0.43%	592 0.49%	747 0.56%	816 0.57%	2,793 1.54%	2,214 1.30%	829 0.52%	817 0.50%	—	—	—
Europe	382 0.30%	441 0.36%	504 0.41%	584 0.48%	907 0.68%	1,022 0.71%	6,536 3.61%	4,073 2.39%	1,064 0.66%	1,122 0.69%	—	—	—
Other	114 0.09%	116 0.09%	119 0.10%	132 0.11%	152 0.11%	161 0.11%	961 0.53%	795 0.47%	208 0.13%	191 0.12%	2,140 1.46%	2,340 1.77%	2,222 1.73%
Latin America	110 0.09%	149 0.12%	194 0.16%	217 0.18%	251 0.19%	212 0.15%	—	—	—	—	—	—	—
Region of Latin America and Caribbean excluding Brazil	—	—	—	—	—	—	3,219 1.78%	3,055 1.79%	2,743 1.71%	2,348 1.43%	1,157 0.79%	99 0.07%	92 0.07%
Brazil	—	—	—	—	—	—	2,797 1.54%	2,724 1.60%	2,948 1.84%	2,797 1.71%	1,224 0.83%	142 0.11%	136 0.11%
Revenue	125,648	122,336	122,428	120,741	134,038	143,050	181,193	170,756	160,546	163,786	146,801	132,447	128,752

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Advanced Connectivity internet net adds	Q3 FY2026	769.0K	328.0K	+134.45%
AT&T Internet Air	Q1 FY2026	239.0K	181.0K	+32.04%
Broadband net adds (excluding DSL)	Q4 FY2025	210.0K	123.0K	+70.73%
Consumer and business locations passed with fiber	Q2 FY2026	38.6M	—	—
Convergence rate	Q3 FY2026	42.8%	41.0%	—
Fiber	Q3 FY2026	442.0K	288.0K	+53.47%
Fixed wireless	Q3 FY2026	327.0K	—	—
Non Fiber	Q4 FY2025	−73.0K	−184.0K	+60.33%
Postpaid	Q4 FY2025	328.0K	204.0K	+60.78%
Postpaid other	Q4 FY2025	220.0K	357.0K	−38.38%
Postpaid phone	Q3 FY2026	379.0K	405.0K	−6.42%
Postpaid phone churn	Q3 FY2026	0.92%	—	—
Prepaid	Q4 FY2025	222.0K	490.0K	−54.69%
Prepaid phone	Q4 FY2025	−255.0K	−119.0K	−114.29%
Remaining performance obligations	Q3 FY2026	$42.9B	$42.0B	+2.15%
Reseller	Q4 FY2025	−19.0K	−29.0K	+34.48%
Total wireless net adds	Q4 FY2025	531.0K	665.0K	−20.15%
Total wireless net adds	Q4 FY2025	1.2M	1.8M	−36.18%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Advanced Connectivity internet net adds	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
AT&T Internet Air	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Broadband net adds (excluding DSL)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Consumer and business locations passed with fiber	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Convergence rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fiber	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Fixed wireless	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non Fiber	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Postpaid	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Postpaid other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Postpaid phone	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Postpaid phone churn	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Prepaid	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Prepaid phone	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Reseller	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total wireless net adds	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total wireless net adds	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.