Stock Analysis on Net

T-Mobile US Inc. (NASDAQ:TMUS)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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T-Mobile US Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Postpaid revenues
Prepaid revenues
Wholesale and other service revenues
Service revenues
Equipment revenues
Other revenues
Revenues
Cost of services, exclusive of depreciation and amortization
Cost of equipment sales, exclusive of depreciation and amortization
Cost of revenues
Gross profit
Selling, general and administrative
Impairment expense
Gain (loss) on disposal group held for sale
Depreciation and amortization
Operating income
Interest expense, net
Other income (expense), net
Other expense, net
Income (loss) before income taxes
Income tax (expense) benefit
Net income (loss)

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The financial performance between March 2021 and March 2026 is characterized by a sustained expansion in service-based revenues and a significant trajectory of growth in operating profitability.

Revenue Stream Analysis
Postpaid revenues exhibit a consistent and strong upward trend, increasing from 10,303 million in March 2021 to 15,629 million by March 2026. This growth serves as the primary catalyst for total service revenues, which climbed from 14,192 million to 18,831 million over the period. Conversely, wholesale and other service revenues show a steady decline, falling from 1,538 million to 685 million. Prepaid revenues remained relatively stagnant, fluctuating within a narrow range between 2,351 million and 2,716 million.
Equipment Revenue and Cost Volatility
Equipment revenues display significant seasonal volatility, with pronounced peaks occurring every December. Despite these cyclical spikes, there is a general downward trend in equipment sales over the long term, although a substantial increase is observed in December 2024. The cost of equipment sales closely correlates with these revenue fluctuations, leading to periodic volatility in the total cost of revenues.
Operational Efficiency and Gross Profit
Gross profit has increased from 11,233 million in March 2021 to 14,280 million by March 2026. This expansion is supported by the growth in high-margin service revenues. Operating income has more than doubled, rising from 2,139 million to 4,497 million, despite a temporary contraction during the second quarter of 2022. Selling, general, and administrative expenses have remained relatively controlled, generally fluctuating between 4,800 million and 6,500 million.
Net Income and Bottom-Line Trends
Net income demonstrates a positive overall trend, growing from 933 million in March 2021 to 2,504 million in March 2026. A notable net loss was recorded in June 2022, but performance recovered strongly in subsequent quarters. The increase in net profitability is primarily driven by higher operating income, although it is partially offset by a gradual increase in net interest expenses, which rose from 835 million to 1,031 million over the analyzed timeframe.