AT&T Inc. 5.35% GLB NTS 66 (TBB) Income Statement

30Y historyFree accessUpdated daily

Revenue grew 2.3% year-over-year to $31.6B in 2026Q2, with operating margin improving to 22.3% from 21.1% a year earlier, though EPS growth remains modest at 6.5% due to one-time items.

Annual statement

TBB Income Statement

AT&T Inc. 5.35% GLB NTS 66 (TBB) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Revenue	128.85B	125.65B	122.34B	122.43B	120.74B	134.04B	171.76B	181.19B	170.76B	160.55B	163.79B	146.8B	132.45B	128.75B	127.43B	126.72B	124.28B	122.51B	123.44B	118.93B	63.05B	43.76B	40.73B	40.5B	42.82B	45.91B	51.37B	49.53B	46.24B	43.11B	25.2B
Revenue Growth %	3.51%	2.71%	-0.08%	1.4%	-9.92%	-21.96%	-5.21%	6.11%	6.36%	-1.98%	11.57%	10.84%	2.87%	1.03%	0.56%	1.97%	1.44%	-0.75%	3.8%	88.61%	44.08%	7.44%	0.58%	-5.42%	-6.72%	-10.64%	3.72%	7.11%	7.27%	71.04%	16.07%
Cost of Revenue	45.77B	50.82B	69.8B	68.9B	50.85B	60.41B	108.44B	112.36B	107.85B	102.2B	102.73B	89.06B	78.88B	69.86B	73.36B	75.75B	71.64B	70.09B	69.78B	67.63B	37.26B	26.83B	24.95B	16.86B	16.47B	16.94B	31.16B	29.38B	27.18B	27.73B	14.51B
Gross Profit	83.08B	74.83B	52.53B	53.53B	69.89B	73.63B	63.32B	68.91B	62.96B	58.35B	61.05B	57.74B	53.56B	58.89B	54.08B	50.97B	52.64B	52.43B	54.25B	51.3B	25.8B	17.03B	15.84B	23.64B	26.35B	28.97B	20.22B	20.15B	19.06B	15.38B	10.69B
Gross Margin %	64.47%	59.55%	42.94%	43.72%	57.89%	54.93%	36.87%	38.03%	36.87%	36.34%	37.28%	39.33%	40.44%	45.74%	42.43%	40.22%	42.35%	42.79%	43.95%	43.13%	40.92%	38.91%	38.89%	58.38%	61.53%	63.1%	39.35%	40.68%	41.23%	35.68%	42.43%
Gross Profit Growth %	-	42.43%	-1.86%	-23.41%	-5.08%	16.28%	-8.1%	9.45%	7.9%	-4.43%	5.74%	7.8%	-9.05%	8.91%	6.09%	-3.16%	0.4%	-3.36%	5.76%	98.83%	51.5%	7.51%	-33%	-10.27%	-9.05%	43.28%	0.33%	5.7%	23.96%	43.84%	-22.79%
Operating Expenses	59.16B	49.83B	28.27B	28.76B	74.48B	47.73B	37.61B	38.53B	35.67B	34.84B	35.18B	31.03B	39.7B	28.41B	41.08B	38.84B	33.06B	31.43B	30.21B	29.62B	14.74B	10.01B	9.94B	17.36B	17.91B	18.46B	9.75B	8.55B	7.84B	7.78B	4.47B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	43.95B	45.89B	44.84B	43.55B	13.43B	43.75B	54.23B	58.59B	55.72B	47.89B	51.72B	48.72B	32.14B	48.87B	31.14B	30.5B	38.95B	40.52B	43.92B	43.25B	20.97B	14.66B	13.46B	14.15B	17.02B	19.59B	20.22B	20.15B	19.06B	15.38B	10.69B
EBITDA Margin %	34.11%	36.52%	36.65%	35.57%	11.13%	32.64%	31.57%	32.34%	32.63%	29.83%	31.58%	33.19%	24.27%	37.96%	24.44%	24.07%	31.34%	33.07%	35.58%	36.37%	33.26%	33.5%	33.06%	34.95%	39.74%	42.66%	39.35%	40.68%	41.23%	35.68%	42.43%
EBITDA Growth %	-2.02%	2.33%	2.98%	224.14%	-69.29%	-19.33%	-7.44%	5.16%	16.34%	-7.4%	6.16%	51.6%	-34.24%	56.95%	2.08%	-21.69%	-3.86%	-7.76%	1.55%	106.27%	43.04%	8.87%	-4.87%	-16.82%	-13.12%	-3.13%	0.33%	5.7%	23.96%	43.84%	16.8%
Depreciation & Amortization	20.04B	20.89B	20.58B	18.78B	18.02B	17.85B	28.52B	28.22B	28.43B	24.39B	25.85B	22.02B	18.27B	18.39B	18.14B	18.38B	19.38B	19.52B	19.88B	21.58B	9.91B	7.64B	7.56B	7.87B	8.58B	9.08B	9.75B	8.55B	7.84B	7.78B	4.47B
D&A / Revenue %	15.55%	16.62%	16.82%	15.34%	14.93%	13.32%	16.6%	15.57%	16.65%	15.19%	15.78%	15%	13.8%	14.29%	14.24%	14.5%	15.59%	15.93%	16.11%	18.14%	15.71%	17.46%	18.57%	19.43%	20.03%	19.77%	18.97%	17.27%	16.96%	18.04%	17.72%
Operating Income (EBIT)	23.91B	25B	24.26B	24.77B	-4.59B	25.9B	25.72B	30.38B	27.29B	23.51B	25.87B	26.71B	13.87B	30.48B	13B	12.13B	19.57B	21B	24.04B	21.68B	11.06B	7.02B	5.9B	6.28B	8.44B	10.51B	10.47B	11.6B	11.22B	7.6B	6.23B
Operating Margin %	18.56%	19.9%	19.83%	20.23%	-3.8%	19.32%	14.97%	16.76%	15.98%	14.64%	15.8%	18.19%	10.47%	23.67%	10.2%	9.57%	15.75%	17.14%	19.48%	18.23%	17.54%	16.03%	14.49%	15.52%	19.71%	22.89%	20.38%	23.42%	24.27%	17.64%	24.7%
Operating Income Growth %	-	3.05%	-2.05%	639.96%	-117.71%	0.7%	-15.34%	11.32%	16.09%	-9.15%	-3.12%	92.6%	-54.51%	134.51%	7.17%	-38.04%	-6.8%	-12.65%	10.91%	95.95%	57.65%	18.91%	-6.09%	-25.53%	-19.7%	0.36%	-9.73%	3.34%	47.63%	22.1%	21.6%
Interest Expense	2M	6.8B	6.75B	6.69B	6.14B	6.7B	7.91B	8.4B	7.91B	6.28B	4.89B	4.1B	3.57B	3.89B	3.4B	3.51B	2.98B	3.35B	3.39B	3.51B	1.84B	1.46B	1.02B	1.19B	1.38B	1.6B	1.59B	1.43B	1.6B	1.55B	901M
Interest Coverage	-	4.97x	3.48x	3.97x	0.49x	5.36x	0.64x	3.20x	4.14x	3.41x	5.05x	6.05x	3.79x	8.13x	4.07x	2.91x	7.13x	6.54x	6.95x	6.25x	6.90x	4.93x	8.00x	8.32x	8.43x	7.85x	8.92x	8.59x	8.55x	5.22x	7.06x
Interest / Revenue %	0%	5.42%	5.51%	5.47%	5.08%	5%	4.61%	4.64%	4.63%	3.91%	2.98%	2.79%	2.69%	3.02%	2.67%	2.77%	2.39%	2.73%	2.75%	2.95%	2.92%	3.33%	2.51%	2.94%	3.23%	3.48%	3.1%	2.89%	3.47%	3.6%	3.58%
Non-Operating Income	-4M	1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K
Pretax Income	18.18B	27.01B	16.7B	19.85B	-3.09B	29.17B	-2.86B	18.47B	24.87B	15.14B	19.81B	20.69B	9.96B	27.78B	10.44B	6.72B	18.24B	18.52B	20.16B	18.4B	10.88B	5.72B	7.17B	8.72B	10.27B	10.95B	12.62B	10.85B	12.12B	6.54B	5.46B
Pretax Margin %	14.11%	21.49%	13.65%	16.21%	-2.56%	21.76%	-1.66%	10.19%	14.57%	9.43%	12.1%	14.1%	7.52%	21.57%	8.19%	5.3%	14.67%	15.12%	16.33%	15.47%	17.26%	13.07%	17.59%	21.52%	23.99%	23.85%	24.56%	21.91%	26.2%	15.17%	21.65%
Income Tax	3.46B	3.62B	4.45B	4.22B	3.78B	5.39B	965M	3.49B	4.92B	-14.71B	6.48B	7B	3.44B	9.22B	2.9B	2.53B	-1.16B	6.09B	7.04B	6.25B	3.52B	932M	2.19B	2.86B	2.91B	3.94B	4.82B	4.28B	4.38B	2.45B	2.07B
Effective Tax Rate %	19.04%	13.41%	26.62%	21.29%	-122.17%	18.49%	-33.79%	18.91%	19.78%	-97.15%	32.7%	33.85%	34.56%	33.21%	27.78%	37.7%	-6.37%	32.89%	34.89%	33.98%	32.4%	16.3%	30.51%	32.78%	28.33%	36%	38.17%	39.44%	36.15%	37.49%	37.93%
Net Income	13.04B	21.89B	10.95B	14.4B	-8.52B	20.08B	-5.18B	13.9B	19.37B	29.45B	12.98B	13.35B	6.44B	18.42B	7.26B	3.94B	19.86B	12.14B	-2.63B	11.95B	7.36B	4.79B	5.89B	8.51B	5.65B	7.01B	7.8B	8.16B	7.69B	4.09B	3.48B
Net Margin %	10.12%	17.42%	8.95%	11.76%	-7.06%	14.98%	-3.01%	7.67%	11.34%	18.34%	7.92%	9.09%	4.86%	14.31%	5.7%	3.11%	15.98%	9.91%	-2.13%	10.05%	11.67%	10.94%	14.45%	21%	13.2%	15.27%	15.18%	16.47%	16.63%	9.48%	13.8%
Net Income Growth %	-41.4%	99.94%	-23.97%	268.93%	-142.45%	487.96%	-137.23%	-28.22%	-34.23%	126.96%	-2.77%	107.16%	-65.02%	153.55%	84.18%	-80.14%	63.65%	562.4%	-121.96%	62.47%	53.7%	-18.7%	-30.78%	50.45%	-19.34%	-10.15%	-4.4%	6.1%	88.16%	17.54%	213.48%
EPS (Diluted)	1.90	3.04	1.49	1.97	-1.13	2.73	-0.75	1.89	2.85	4.76	2.10	2.37	1.24	3.42	1.25	0.66	3.35	2.05	-0.44	1.94	1.89	1.42	1.77	2.56	1.69	2.07	2.27	2.36	2.23	2.22	1.77
EPS Growth %	-40.26%	104.03%	-24.37%	274.34%	-141.39%	464%	-139.68%	-33.68%	-40.13%	126.67%	-11.39%	91.13%	-63.74%	173.6%	89.39%	-80.3%	63.41%	565.91%	-122.68%	2.65%	33.1%	-19.77%	-30.86%	51.48%	-18.36%	-8.81%	-3.81%	5.83%	0.45%	25.42%	206.63%
EPS (Basic)	-	3.04	1.49	1.97	-1.22	2.77	-0.75	1.90	2.86	4.77	2.10	2.37	1.24	3.42	1.25	0.66	3.36	2.06	-0.44	1.95	1.89	1.42	1.78	2.56	1.70	2.08	2.30	2.39	2.26	2.23	1.78
Diluted Shares Outstanding	6.84B	7.18B	7.2B	7.26B	7.59B	7.5B	7.18B	7.35B	6.81B	6.18B	6.19B	5.65B	5.22B	5.38B	5.82B	5.95B	5.94B	5.92B	5.96B	6.17B	3.9B	3.38B	3.32B	3.33B	3.35B	3.4B	3.43B	3.46B	3.45B	1.84B	1.97B

Key Metrics

Growth RegimeStable

ProfitabilityStable

Balance SheetAdequate

Cash FlowStable

Top Statement Risk

Regulatory lag and debt load

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q2)

Steady Revenue Growth Amidst Rate Cases

According to quarterly filings, AT&T's revenue grew 2.3% year-over-year in 2026Q2 to $31.6B, driven by wireless and fiber subscriber gains, though growth remains modest.

Revenue growth has been consistent, averaging around 2-3% annually, reflecting steady demand for telecom services. However, this growth is not driven by rate base expansion as in traditional utilities, but by subscriber additions and service adoption. The trajectory appears durable given ongoing investments in fiber and 5G, but competitive pressures may limit pricing power.

Margins Stable but Below Peers

Operating margin improved to 22.3% in 2026Q2 from 21.1% a year earlier, as reported in financial statements, yet remains below Verizon's 21.2% and T-Mobile's 21.2%.

AT&T's operating margin has been relatively stable, hovering around 20-22%, indicating efficient cost management. However, it lags behind peers, suggesting potential for improvement. The gap may reflect higher legacy network costs or less favorable regulatory constructs. Investors should monitor whether margin expansion can be sustained as competition intensifies.

Cost Pressures Offset by Efficiency Gains

Depreciation and amortization remained flat at $5.0B in 2026Q2, while operating income rose to $7.0B, as per SEC filings, indicating cost controls are offsetting inflationary pressures.

D&A has been stable, suggesting capital intensity is manageable. Operating income growth outpaced revenue growth, implying improved cost efficiency. However, interest expenses are not disclosed, but interest coverage of 4.09x indicates adequate earnings to cover interest. The lack of fuel pass-through mechanisms means cost recovery is more dependent on operational efficiency.

Earnings Volatility from One-Time Items

Net income spiked to $9.3B in 2025Q3 due to a one-time gain, as reported in financial statements, while other quarters show consistent EPS around $0.50-$0.66, indicating core earnings stability.

The 2025Q3 net income surge is likely from a non-recurring item, such as an asset sale or tax benefit, which inflates EPS to $1.29. Excluding that, EPS has been relatively stable, growing from $0.47 in 2024Q1 to $0.66 in 2026Q2. This suggests underlying earnings power is improving, but investors should be cautious of one-time boosts that may not recur.

Capital Spending Drives Modest EPS Growth

AT&T's capital expenditures are not directly disclosed, but D&A of $5.0B and revenue growth of 2.3% in 2026Q2, per quarterly reports, suggest investments are translating into steady, albeit modest, earnings growth.

The company has been investing heavily in fiber and 5G, which is reflected in stable D&A. EPS growth of 6.5% year-over-year in 2026Q2 indicates that capital investments are yielding returns. However, the growth rate is not exponential, suggesting a mature market. The sustainability of this growth depends on continued subscriber uptake and cost discipline.

Debt and Competition Could Pressure Returns

Despite stable earnings, AT&T's high debt load and intense competition from T-Mobile and Verizon may limit future margin expansion, as indicated by its lower ROIC of 6.9% versus peers.

AT&T's ROIC of 6.9% is below Verizon's 8.0% and T-Mobile's 8.1%, suggesting capital efficiency is lagging. The company's significant debt, implied by interest coverage of 4.09x, could constrain financial flexibility. Additionally, competitive pressures in wireless and broadband may force price cuts, eroding margins. Investors should monitor whether AT&T can maintain its dividend and reduce leverage without sacrificing growth.

TBB — Frequently Asked Questions

Quick answers to the most common questions about buying TBB stock.

What was AT&T Inc. 5.35% GLB NTS 66's (TBB) revenue in 2025?

For fiscal year 2025, AT&T Inc. 5.35% GLB NTS 66 (TBB) reported total revenue of $125.65B. This represents a 398.6% increase compared to $25.20B in 1996.

Is AT&T Inc. 5.35% GLB NTS 66 (TBB) profitable?

AT&T Inc. 5.35% GLB NTS 66 (TBB) is profitable, generating $21.89B in net income for the fiscal year ending 2025 with a net profit margin of 17.4%.

What is AT&T Inc. 5.35% GLB NTS 66's operating profit margin?

AT&T Inc. 5.35% GLB NTS 66 (TBB) reported an operating income of $25.00B, resulting in an operating profit margin of 19.9%. This margin reflects the operational efficiency of the business before interest and taxes.

What is AT&T Inc. 5.35% GLB NTS 66's gross profit and gross margin?

AT&T Inc. 5.35% GLB NTS 66 (TBB) generated $74.83B in gross profit for the year, representing a gross profit margin of 59.6%. This demonstrates the company's core pricing power and production efficiency.