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.
Paying user area
Try for free
AT&T Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to AT&T Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
AT&T Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue Trends
- Operating revenues demonstrate a significant decline beginning in the March 31, 2022 quarter through the end of 2023. The total operating revenue dropped to approximately $30 billion per quarter, down from a consistent range of $40 billion to $45 billion in prior years. Service revenues, which form the major part of total revenues, followed a similar declining trend from above $38 billion per quarter before 2022 to around $25 billion subsequently, showing some stabilization around this lower level in the last quarters. Equipment revenues and their related cost also fluctuate, with a notable decrease in equipment sales from 2022 onward, suggesting less contribution from this segment to overall revenues.
- Cost of Revenues and Gross Profit
- The cost of revenues dropped significantly in the same period when the decline in revenues occurred, particularly from over $19 billion per quarter before 2022 to roughly $12 billion after. This reduction in costs helped maintain gross profit levels relatively stable despite revenue declines. Gross profit fell from over $22 billion per quarter to approximately $18 billion but remained fairly consistent in the quarters following the initial decline, indicating cost control measures were effective in offsetting some negative impacts from revenue decreases.
- Operating Expenses
- Selling, general and administrative expenses show a descending pattern in line with revenues, decreasing from an average of around $9 billion to approximately $7 billion per quarter post-2022. Asset impairments and restructuring costs present volatility, with exceptionally high impairment charges in Q4 2020 and again late 2022, which significantly affected operating results in those periods. Depreciation and amortization expenses declined moderately over time, reflecting possibly reduced capital expenditure or asset base changes.
- Profitability and Operating Income
- Operating income reveals considerable volatility. While positive and strong in most quarters from 2020 through 2021, it displayed a large loss in Q4 2020 and Q4 2022, corresponding to significant asset impairment and restructuring charges. For the remainder of the periods, operating income maintains a positive trend generally ranging from $5 billion to $6 billion, indicating recovery from episodic losses and ongoing profitability.
- Interest and Other Income
- Interest expenses have decreased marginally over time from approximately $2 billion per quarter to about $1.6 billion, indicating some improvement in financing cost management or reduced debt levels. Equity income from affiliates generally increased, especially notable after 2021, contributing positively to overall income. Other income (expense) shows some variability but generally remained positive or near neutral, supporting net earnings.
- Income Before Taxes and Net Income
- Income before tax exhibits significant fluctuations, including sharp negative deviations linked to extraordinary charges notably in Q4 2020 and Q4 2022, paralleling operating income patterns. Despite those dips, income before taxes recovered in subsequent quarters, suggesting transient impact of impairments. Correspondingly, net income also demonstrated volatility but maintained positivity in most quarters outside of these exceptions. Net income attributable to common stockholders followed similar trends, with dips during impairments but otherwise maintaining profitability around $2 to $4.5 billion quarterly in recent years.
- Overall Insight
- The data shows a company experiencing a revenue contraction beginning early 2022, primarily from a drop in service revenues, counterbalanced by cost reductions that preserved profit margins. Significant asset impairments and restructuring charges caused sharp losses in certain quarters, creating episodic volatility in earnings. Despite these challenges, the entity exhibits resilience through consistent positive operating income and net income outside of these infrequent charge-heavy periods. Interest expense reduction and stronger equity income from affiliates further support profitability. Going forward, stabilization of core revenues and continued cost management will be critical for sustained financial performance.