Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Total revenue $ 2,091 $ 2,068
Cost of services:    
Subscriber acquisition costs 100 100
Sales and marketing 187 190
Product and technology 69 73
General and administrative 122 122
Depreciation and amortization 151 144
Impairment, restructuring and other costs 6 48
Total operating expenses 1,637 1,681
Income from operations 454 387
Other income (expense), net    
Interest expense (112) (117)
Other expense, net (16) (1)
Total other expense (128) (118)
Income before income taxes 326 269
Income tax expense (81) (65)
Net income $ 245 $ 204
Net income per common share:    
Basic (in USD per share) $ 0.73 $ 0.60
Diluted (in USD per share) $ 0.72 $ 0.59
Weighted average common shares outstanding:    
Basic (in shares) 336 339
Diluted (in shares) 338 357
Subscriber revenue    
Revenue:    
Total revenue $ 1,612 $ 1,602
Advertising revenue    
Revenue:    
Total revenue 407 394
Equipment revenue    
Revenue:    
Total revenue 41 41
Cost of services:    
Cost of services 2 2
Other revenue    
Revenue:    
Total revenue 31 31
Revenue share and royalties    
Cost of services:    
Cost of services 697 687
Programming and content    
Cost of services:    
Cost of services 150 153
Customer service and billing    
Cost of services:    
Cost of services 106 112
Transmission    
Cost of services:    
Cost of services $ 47 $ 50