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AT&T Inc.Stock · Communication Services
$20.58+$0.10 (+0.49%)as of market close, Jul 2, 2026
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How AT&T makes money

Fiscal year

How does AT&T make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

AT&T Inc. · FY2025 · year ended 2025-12-31
Revenue$125.6BGross profit$125.6B · 100%Cost of revenue$0 · 0%Operating income$24.2B · 19%Operating expenses$101.5B · 81%SG&A$28.9B · 23%Other opex$72.5B · 58%Pre-tax income$25.6B · 20%Other income$1.4B · 1%Net income$22.0B · 17%Income tax$3.6B · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.