The Business Study
Verizon vs AT&T: who makes more money?
Verizon is bigger: $138 billion in revenue against $126 billion for AT&T, about 1.1 times as much. But AT&T keeps more of each sale: $17.47 of every $100 versus $12.43. Across 5 rounds from their latest annual reports, Verizon wins 3.
From each company's latest Form 10-K: Verizon (year ended December 31, 2025) and AT&T (year ended December 31, 2025). Page updated November 8, 2026.
Revenue Money coming in
Net profit After every cost and tax
Kept per $100 of sales Profit margin
Employees As each 10-K states it
Revenue per employee Revenue ÷ employees
Growth over 5 years Revenue, first to latest year shown
How each one makes its money.
Verizon sells phone plans, home internet and phones to consumers and businesses.
How Verizon makes moneyAT&TAT&T sells phone plans, phones and fiber internet in the U.S., plus services for businesses.
AT&T sells phone plans, phones and fiber internet in the U.S., plus services for businesses. Its 10-K does not split revenue into separate lines.
How AT&T makes moneyQuick answers.
Who makes more money, Verizon or AT&T?
Verizon: $138 billion in revenue against $126 billion.
Which is more profitable, Verizon or AT&T?
AT&T keeps more of each dollar ($17.47 of every $100). In total profit, AT&T made more: $22.0 billion.
Which has more employees, Verizon or AT&T?
AT&T, with about 133,030 against 89,900.
Sources: Verizon Communications Inc. Form 10-K and AT&T Inc. Form 10-K on SEC EDGAR. Fiscal years can end in different months, so each side uses its own latest year. Profit means net income.