Note: this is income before any AT&T expenses, just to be clear and fair.
Yes, exactly. By your numbers, their revenue would go down by almost 10% while their operating expenses remain the same. Is it plausible that they could have just lowered prices by 10% and still operated profitably all this time?
Another theory is that it's the copyright industry at work. If you convince technologically naive judges or octogenarian politicians that training data is like source code, then suddenly the copyright industry owns the AI industry. Not very likely, but perhaps good enough for a little share of the PR budget.