Name: AT&T Inc. (NYSE:T) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

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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AT&T Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	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
Service	25,977)	25,478)	25,392)	25,336)	25,292)	25,138)	25,153)	25,134)	25,006)	24,842)	25,070)	25,112)	24,850)	24,617)	24,833)	24,731)	24,268)	23,999)	34,088)	34,843)	38,956)	38,504)
Equipment	5,581)	6,028)	8,074)	5,373)	5,555)	5,488)	7,145)	5,079)	4,791)	5,186)	6,952)	5,238)	5,067)	5,522)	6,510)	5,312)	5,375)	5,713)	6,870)	5,079)	5,089)	5,435)
Operating revenues	31,558)	31,506)	33,466)	30,709)	30,847)	30,626)	32,298)	30,213)	29,797)	30,028)	32,022)	30,350)	29,917)	30,139)	31,343)	30,043)	29,643)	29,712)	40,958)	39,922)	44,045)	43,939)
Equipment	(5,741)	(6,305)	(8,496)	(5,468)	(5,738)	(5,694)	(7,358)	(4,933)	(4,815)	(5,143)	(7,203)	(5,219)	(5,056)	(5,658)	(6,999)	(5,440)	(5,534)	(6,036)	(7,454)	(5,427)	(5,341)	(5,556)
Broadcast, programming and operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(4,906)	(4,750)	(7,603)	(7,538)
Other cost of revenues, exclusive of depreciation and amortization	(6,306)	(6,261)	(6,322)	(6,351)	(6,412)	(6,339)	(6,837)	(6,697)	(6,627)	(6,811)	(6,708)	(6,835)	(6,771)	(6,673)	(6,572)	(6,761)	(6,807)	(6,699)	(7,435)	(7,649)	(8,155)	(7,993)
Cost of revenues	(12,047)	(12,566)	(14,818)	(11,819)	(12,150)	(12,033)	(14,195)	(11,630)	(11,442)	(11,954)	(13,911)	(12,054)	(11,827)	(12,331)	(13,571)	(12,201)	(12,341)	(12,735)	(19,795)	(17,826)	(21,099)	(21,087)
Gross profit	19,511)	18,940)	18,648)	18,890)	18,697)	18,593)	18,103)	18,583)	18,355)	18,074)	18,111)	18,296)	18,090)	17,808)	17,772)	17,842)	17,302)	16,977)	21,163)	22,096)	22,946)	22,852)
Selling, general and administrative	(7,221)	(7,316)	(7,398)	(7,454)	(6,945)	(7,145)	(7,389)	(6,958)	(7,043)	(7,021)	(7,485)	(7,205)	(7,009)	(7,175)	(7,516)	(7,202)	(7,265)	(6,978)	(9,994)	(9,207)	(9,361)	(9,382)
Asset impairments and abandonments and restructuring	(286)	—)	(334)	—)	—)	(504)	(14)	(4,422)	(480)	(159)	(589)	(604)	—)	—)	(26,753)	(114)	(631)	—)	(188)	(161)	(4,555)	—)
Depreciation and amortization	(4,966)	(4,966)	(5,128)	(5,317)	(5,251)	(5,190)	(5,374)	(5,087)	(5,072)	(5,047)	(4,766)	(4,705)	(4,675)	(4,631)	(4,595)	(4,514)	(4,450)	(4,462)	(5,673)	(5,619)	(5,761)	(5,809)
Operating income (loss)	7,038)	6,658)	5,788)	6,119)	6,501)	5,754)	5,326)	2,116)	5,760)	5,847)	5,271)	5,782)	6,406)	6,002)	(21,092)	6,012)	4,956)	5,537)	5,308)	7,109)	3,269)	7,661)
Interest expense	(1,883)	(1,813)	(1,791)	(1,700)	(1,655)	(1,658)	(1,661)	(1,675)	(1,699)	(1,724)	(1,726)	(1,662)	(1,608)	(1,708)	(1,560)	(1,420)	(1,502)	(1,626)	(1,663)	(1,667)	(1,684)	(1,870)
Equity in net income (loss) of affiliates	(29)	(41)	(10)	(20)	485)	1,440)	1,074)	272)	348)	295)	337)	420)	380)	538)	374)	392)	504)	521)	447)	91)	41)	52)
Other income (expense), net	696)	594)	278)	6,254)	767)	455)	569)	717)	682)	451)	(946)	440)	987)	935)	(919)	2,270)	2,302)	2,157)	2,354)	2,279)	999)	4,221)
Other income (expense)	(1,216)	(1,260)	(1,523)	4,534)	(403)	237)	(18)	(686)	(669)	(978)	(2,335)	(802)	(241)	(235)	(2,105)	1,242)	1,304)	1,052)	1,138)	703)	(644)	2,403)
Income (loss) from continuing operations before income taxes	5,822)	5,398)	4,265)	10,653)	6,098)	5,991)	5,308)	1,430)	5,091)	4,869)	2,936)	4,980)	6,165)	5,767)	(23,197)	7,254)	6,260)	6,589)	6,446)	7,812)	2,625)	10,064)
Income tax expense on continuing operations	(784)	(1,179)	(109)	(976)	(1,237)	(1,299)	(900)	(1,285)	(1,142)	(1,118)	(354)	(1,154)	(1,403)	(1,314)	77)	(908)	(1,509)	(1,440)	(1,056)	(1,539)	(751)	(2,122)
Income (loss) from continuing operations	5,038)	4,219)	4,156)	9,677)	4,861)	4,692)	4,408)	145)	3,949)	3,751)	2,582)	3,826)	4,762)	4,453)	(23,120)	6,346)	4,751)	5,149)	5,390)	6,273)	1,874)	7,942)
Income (loss) from discontinued operations, net of tax	(28)	(38)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(35)	53)	(214)	15)	—)	—)	—)	—)
Net income (loss)	5,010)	4,181)	4,156)	9,677)	4,861)	4,692)	4,408)	145)	3,949)	3,751)	2,582)	3,826)	4,762)	4,453)	(23,155)	6,399)	4,537)	5,164)	5,390)	6,273)	1,874)	7,942)
Net income attributable to noncontrolling interest	(383)	(352)	(368)	(363)	(361)	(341)	(328)	(319)	(352)	(306)	(394)	(331)	(273)	(225)	(362)	(373)	(380)	(354)	(347)	(355)	(304)	(392)
Net income (loss) attributable to AT&T	4,627)	3,829)	3,788)	9,314)	4,500)	4,351)	4,080)	(174)	3,597)	3,445)	2,188)	3,495)	4,489)	4,228)	(23,517)	6,026)	4,157)	4,810)	5,043)	5,918)	1,570)	7,550)
Preferred stock dividends and redemption gain	(36)	(36)	(36)	(36)	(36)	44)	(49)	(52)	(51)	(50)	(53)	(51)	(52)	(52)	(54)	(49)	(52)	(48)	(51)	(50)	(56)	(50)
Net income (loss) attributable to common stock	4,591)	3,793)	3,752)	9,278)	4,464)	4,395)	4,031)	(226)	3,546)	3,395)	2,135)	3,444)	4,437)	4,176)	(23,571)	5,977)	4,105)	4,762)	4,992)	5,868)	1,514)	7,500)

A significant structural shift in the financial profile is evident between late 2021 and early 2022, characterized by a sharp contraction in operating revenues and associated costs. Following this transition, the company entered a period of relative stability in its revenue streams, punctuated by consistent seasonal fluctuations and occasional non-operational volatility.

Revenue Streams and Trends: Operating revenues experienced a substantial decline from a peak of $44,045 million in June 2021 to approximately $29,712 million by March 2022. Since that pivot, revenues have largely stabilized, fluctuating between $29,797 million and $33,466 million. Service revenue remains the primary driver of top-line performance, showing a gradual upward trajectory from $23,999 million in March 2022 to $25,977 million by June 2026. Equipment revenue exhibits a clear seasonal pattern, with significant spikes every December, reaching a peak of $8,074 million in December 2025.
Gross Profit and Cost Management: Gross profit margins remained relatively resilient following the structural revenue decline, stabilizing in the range of $17,772 million to $19,511 million from 2022 onwards. Cost of revenues decreased in tandem with the overall reduction in business scale, moving from levels above $20,000 million in 2021 to a consistent range of $11,442 million to $14,818 million in subsequent years. The cost of equipment closely tracks the revenue generated from equipment sales, maintaining a consistent margin relationship.
Operating Income and Anomalies: Operating income generally reflects stability, typically ranging between $5,000 million and $7,000 million per quarter. However, a severe anomaly occurred on December 31, 2022, where a massive asset impairment and restructuring charge of $26,753 million resulted in an operating loss of $21,092 million. Aside from this event and a smaller impairment in September 2024, operating performance has remained steady, with a gradual improvement in operating income observed through the first half of 2026.
Net Profitability and Non-Operating Items: Net income attributable to common stock has been subject to extreme volatility. Beyond the significant loss in December 2022, a notable spike occurred on September 30, 2025, where net income rose to $9,278 million. This increase was primarily driven by a surge in other income, net, which reached $6,254 million in that quarter. Interest expenses have remained remarkably stable, typically fluctuating between $1,420 million and $1,883 million, suggesting a consistent debt service requirement.
Taxation and Equity Contributions: Income tax expenses generally range between $700 million and $1,500 million per quarter, with a tax benefit observed during the major loss period of late 2022. Equity in the net income of affiliates provided a positive contribution for most of the period, although this trend reversed into small losses starting in September 2025.

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AT&T Inc. (NYSE:T)

Income StatementQuarterly Data

Income Statement
Quarterly Data