Revenue of AT&T 2017-2024, by quarter and segment

In the third quarter of 2024, AT&T attributed 29 billion U.S. dollars in revenue to its communications business segment. This segment has made up the vast majority of the company’s revenue since it reorganized its reporting structure in the third quarter of 2018. 

AT&T spins off its interests in WarnerMedia

WarnerMedia, the result of a merger between Time Warner and AT&T in mid-2018, was formerly a key business segment for the operator. The deal represented a major move into the entertainment industry, with AT&T overseeing the launch of HBO Max, a streaming service intended to challenge Netflix and Amazon. AT&T subsequently spun off its interests in WarnerMedia in 2022, marking its exit from the entertainment sector. The spin off deal saw WarnerMedia merge with Discovery, Inc. to create Warner Bros. Discovery.

AT&T refocuses on wireless

Since relinquishing its interests in WarnerMedia, AT&T has sought to refocus its efforts on the development of its telecommunications offerings. The firm has long been a leader in the wireless sector, having provided around 29 percent of wireless subscriptions delivered by major operators in the U.S. in the second quarter of 2024. The company faces strong competition from rival network operators Verizon and T-Mobile US, particularly in the 5G space. AT&T ranked second in U.S. 5G coverage in 2024, and third in typical 5G download speeds. T-Mobile US held the top spot in both metrics, having invested heavily in its 5G network in an attempt to challenge AT&T and Verizon.