Telephone and Data Systems, Inc (TDS) Income Statement
TDS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTDS revenue and net income
Where TDS's revenue goes
2025Each bar shows an amount and its share of revenue. TDS kept −0.5% of revenue as net income.
TDS profit margins
TDS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −75.3% | −39.0% | −25.1% | −13.4% |
| Gross profit | −102.2% | — | — | — |
| Operating income | −198.4% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TDS quarterly EPS vs estimates
Telephone and Data Systems beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 6, 2026 (estimate $0.10).
TDS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.23B | $4.96B | $5.16B | $5.41B | $5.33B | $5.22B | $5.18B | $5.11B | $5.04B | $5.10B |
| Cost of revenue | $1.29B | $2.13B | $2.33B | $2.56B | $2.47B | $2.35B | $2.34B | $2.34B | $2.36B | $2.43B |
| Gross profit | −$62.0M | $2.83B | $2.83B | $2.85B | $2.86B | $2.87B | $2.84B | $2.77B | $2.69B | $2.67B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $435.1M | $1.72B | $1.75B | $1.77B | $1.68B | $1.68B | $1.72B | $1.69B | $1.69B | $1.76B |
| Total operating expenses | $1.33B | $2.77B | $3.24B | $2.73B | $2.60B | $2.61B | $2.66B | $4.91B | $4.89B | $5.04B |
| Operating income | −$62.0M | $63.0M | −$414.0M | $122.0M | $261.0M | $259.0M | $179.0M | $205.0M | −$105.0M | $60.0M |
| Interest income | $40.3M | $27.0M | $23.0M | $17.0M | $39.0M | $15.0M | $29.0M | $26.0M | $15.0M | $62.0M |
| Interest expense | $112.7M | $279.0M | $244.0M | $174.0M | $232.0M | $168.0M | $165.0M | $172.0M | $170.0M | $170.0M |
| Income before taxes | $89.0M | −$20.0M | −$477.0M | $125.0M | $221.0M | $288.0M | $211.0M | $221.0M | −$122.0M | $92.0M |
| Income taxes | −$62.2M | $6.0M | $10.0M | $53.0M | $33.0M | $19.0M | $64.0M | $46.0M | −$279.0M | $40.0M |
| Net income | −$6.2M | −$28.0M | −$500.0M | $62.0M | $156.0M | $226.0M | $121.0M | $135.0M | $153.0M | $43.0M |
| EBITDA | $553.5M | $1.20B | $682.0M | $1.08B | $1.18B | $1.19B | $1.12B | $1.08B | $996.0M | $964.0M |
| EPS (diluted) | −$0.66 | −$0.86 | −$5.00 | $0.04 | $1.20 | $2.07 | $1.09 | $1.18 | $0.50 | $0.41 |
| Gross margin | −5.0% | 57.0% | 54.8% | 52.6% | 53.6% | 54.9% | 54.8% | 54.3% | 53.2% | 52.4% |
| Operating margin | −5.0% | 1.3% | −8.0% | 2.3% | 4.9% | 5.0% | 3.5% | 4.0% | −2.1% | 1.2% |
| Net margin | −0.5% | −0.6% | −9.7% | 1.1% | 2.9% | 4.3% | 2.3% | 2.6% | 3.0% | 0.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $309.3M | $309.4M | $330.7M | $308.5M | $1.19B | $1.15B | $1.24B | $1.22B | $1.24B | $1.26B | $1.31B | $1.28B |
| Cost of revenue | $129.3M | $210.4M | $322.5M | $234.8M | $492.0M | $458.0M | $564.0M | $516.0M | $523.0M | $531.0M | $607.0M | $567.0M |
| Gross profit | $180.0M | $99.0M | $8.2M | $73.7M | $694.0M | $696.0M | $676.0M | $708.0M | $715.0M | $731.0M | $705.0M | $711.0M |
| Sales, general & admin | $111.5M | $102.7M | $103.9M | $106.2M | $421.0M | $425.0M | $450.0M | $422.0M | $426.0M | $424.0M | $445.0M | $432.0M |
| Total operating expenses | −$193.3M | $102.7M | $322.5M | $141.7M | $654.0M | $661.0M | $640.0M | $788.0M | $676.0M | $664.0M | $1.23B | $663.0M |
| Operating income | $373.2M | −$3.7M | $8.2M | −$68.0M | $40.0M | $35.0M | $36.0M | −$80.0M | $39.0M | $67.0M | −$524.0M | $48.0M |
| Interest income | $19.6M | $13.8M | $12.3M | $15.7M | $6.0M | $6.0M | $7.0M | $8.0M | $7.0M | $5.0M | $4.0M | $17.0M |
| Interest expense | $11.4M | $5.3M | $12.3M | $47.3M | $70.0M | $61.0M | $71.0M | $76.0M | $73.0M | $57.0M | $66.0M | $62.0M |
| Income before taxes | $447.7M | $233.8M | $85.3M | $6.0M | $21.0M | $20.0M | $13.0M | −$104.0M | $13.0M | $58.0M | −$548.0M | $31.0M |
| Income taxes | $106.4M | $54.4M | $22.9M | −$72.8M | $3.0M | $8.0M | $5.0M | −$25.0M | $6.0M | $20.0M | −$45.0M | $27.0M |
| Net income | $298.4M | $145.5M | $56.5M | −$81.8M | $12.0M | $7.0M | $6.0M | −$66.0M | $3.0M | $29.0M | −$506.0M | $4.0M |
| EBITDA | $547.9M | $325.1M | $187.4M | $145.0M | $123.0M | $165.3M | $323.0M | $52.9M | $319.0M | $349.0M | −$248.0M | $318.0M |
| EPS (diluted) | $2.24 | $1.11 | $0.33 | −$0.85 | −$0.05 | −$0.09 | −$0.10 | −$0.73 | −$0.13 | $0.10 | −$4.64 | −$0.16 |
| Gross margin | 58.2% | 32.0% | 2.5% | 23.9% | 58.5% | 60.3% | 54.5% | 57.8% | 57.8% | 57.9% | 53.7% | 55.6% |
| Operating margin | 120.7% | −1.2% | 2.5% | −22.0% | 3.4% | 3.0% | 2.9% | −6.5% | 3.2% | 5.3% | −39.9% | 3.8% |
| Net margin | 96.5% | 47.0% | 17.1% | −26.5% | 1.0% | 0.6% | 0.5% | −5.4% | 0.2% | 2.3% | −38.6% | 0.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TDS's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TDS financial results
In fiscal year 2025 (ended December 31, 2025), Telephone and Data Systems reported revenue of $1.2 billion, down 75.3% from the year before. It had a net loss of $6.2 million, a net profit margin of −0.5%. Diluted earnings per share came to −$0.66. Over five years revenue grew at an average rate of −25.1% a year.
See the TDS stock overview for the latest quote and news, or the TDS chart for price history and technical indicators.
TDS income statement FAQ
What is Telephone and Data Systems's annual revenue?
Telephone and Data Systems reported total revenue of $1.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 75.3% from $5.0 billion the previous year.
Is Telephone and Data Systems profitable?
No. Telephone and Data Systems reported a net loss of $6.2 million in fiscal 2025, a net profit margin of −0.5%; its operating margin was −5.0%.
What is Telephone and Data Systems's gross margin?
Telephone and Data Systems's gross margin was −5.0% in fiscal 2025: for every $100 of revenue, Telephone and Data Systems kept $-5 after the direct cost of its products and services.
How fast is Telephone and Data Systems growing?
Revenue grew −25.1% a year on average over the last five fiscal years, from $5.2 billion to $1.2 billion.
What are Telephone and Data Systems's earnings per share?
Telephone and Data Systems earned $-0.66 per diluted share in fiscal 2025, compared with $-0.86 a year earlier.
When will Telephone and Data Systems report its next earnings?
Telephone and Data Systems is expected to report results for the quarter ending September 30, 2026 on November 6, 2026.
When does Telephone and Data Systems's fiscal year end?
Telephone and Data Systems's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.