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How do phone companies make money?
Phone carriers make most of their money from monthly plans, plus selling phones (often at little profit) and home internet. Together, Verizon, AT&T and T-Mobile took in $352 billion in their latest years and kept $50.1 billion in profit, $14.23 of every $100.
From each company's latest Form 10-K. Page updated November 8, 2026.
Phone carriers make most of their money from monthly plans, plus selling phones (often at little profit) and home internet. The network costs billions to build, then each extra customer is cheap to serve.
Where each company's money comes from.
Verizon
How Verizon makes moneyT-Mobile
How T-Mobile makes moneySources: Verizon Form 10-K, AT&T Form 10-K, T-Mobile Form 10-K on SEC EDGAR.