Analysis of Revenues
Revenues as Reported
AT&T Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The financial information reveals evolving revenue streams between 2023 and 2025. Overall operating revenues demonstrate a generally positive trajectory, though with some fluctuations in component parts. Wireless service revenue consistently increased over the period, representing the largest portion of total revenues.
- Wireless Service
- Wireless service revenue exhibited steady growth, increasing from US$65,744 million in 2023 to US$70,099 million in 2025. This represents a compound annual growth rate of approximately 7.2%. This segment appears to be a key driver of overall revenue performance.
- Fiber and Advanced Connectivity
- Revenue from fiber and advanced connectivity showed consistent expansion, rising from US$12,861 million in 2023 to US$15,978 million in 2025. This indicates a successful strategy in expanding this service offering, with a compound annual growth rate of approximately 11.3%.
- Non-Fiber Consumer Broadband
- Non-fiber consumer broadband revenue experienced a consistent decline, decreasing from US$4,188 million in 2023 to US$3,542 million in 2025. This suggests a potential shift in consumer preference towards fiber optic or other advanced connectivity solutions, or increased competition in this segment. The compound annual decline is approximately 4.6%.
- Legacy and Other Transitional
- Revenue from legacy and other transitional services demonstrated a notable downward trend, falling from US$15,482 million in 2023 to US$10,362 million in 2025. This decline is expected as the company transitions away from older technologies and services, and represents a compound annual decline of approximately 13.4%.
- Other Revenue
- Revenue categorized as "Other" also showed a decreasing trend, though less pronounced than legacy services, moving from US$1,374 million in 2023 to US$1,177 million in 2025. This represents a compound annual decline of approximately 4.2%.
- Equipment Revenue
- Equipment revenue fluctuated, increasing from US$22,779 million in 2023 to US$24,490 million in 2025. This suggests potential variability in equipment sales, possibly linked to technology upgrade cycles or promotional activities.
Total service revenue increased steadily from US$99,649 million in 2023 to US$101,158 million in 2025. Operating revenues, encompassing both service and equipment, increased from US$122,428 million in 2023 to US$125,648 million in 2025, with a slight dip in 2024 to US$122,336 million. The growth in wireless and fiber revenues appears to be offsetting the declines in legacy services and non-fiber broadband, driving the overall positive trend in operating revenues.