v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 2,160 $ 2,138 $ 4,251 $ 4,206
Cost of services:        
Subscriber acquisition costs 109 107 209 207
Sales and marketing 188 185 375 375
Product and technology 56 56 125 129
General and administrative 136 166 258 288
Depreciation and amortization 165 121 316 265
Impairment, restructuring and other costs 6 107 12 155
Total operating expenses 1,688 1,773 3,325 3,454
Income from operations 472 365 926 752
Other income (expense), net        
Interest expense (112) (116) (224) (233)
Other (expense) income, net (48) 15 (64) 14
Total other expense (160) (101) (288) (219)
Income before income taxes 312 264 638 533
Income tax expense (73) (59) (154) (124)
Net income $ 239 $ 205 $ 484 $ 409
Net income per common share:        
Basic (in USD per share) $ 0.71 $ 0.61 $ 1.44 $ 1.21
Diluted (in USD per share) $ 0.70 $ 0.57 $ 1.42 $ 1.16
Weighted average common shares outstanding:        
Basic (in shares) 337 338 337 338
Diluted (in shares) 342 357 340 357
Subscriber revenue        
Revenue:        
Total revenue $ 1,638 $ 1,629 $ 3,250 $ 3,231
Advertising revenue        
Revenue:        
Total revenue 454 432 861 826
Equipment revenue        
Revenue:        
Total revenue 36 46 77 87
Cost of services:        
Cost of services 1 2 3 4
Other revenue        
Revenue:        
Total revenue 32 31 63 62
Revenue share and royalties        
Cost of services:        
Cost of services 722 722 1,419 1,409
Programming and content        
Cost of services:        
Cost of services 146 151 296 304
Customer service and billing        
Cost of services:        
Cost of services 110 111 216 223
Transmission        
Cost of services:        
Cost of services $ 49 $ 45 $ 96 $ 95