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AT&T

T · Communication Services

Last earnings Oct 21, 2026

Key results

Operating incomequarter

$4.1 billion

Operating income was $4.1 billion adjusted operating income* was $7.6 billion Income from continuing operations was $1.3 billion , adjusted EBITDA* was $12.5 billion , up 5.4% year over year Cash from operating activities from continuing operations was $10.5 billion

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Adjusted operating incomequarter

$7.6 billion

Operating income was $4.1 billion adjusted operating income* was $7.6 billion Income from continuing operations was $1.3 billion , adjusted EBITDA* was $12.5 billion , up 5.4% year over year Cash from operating activities from continuing operations was $10.5 billion

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Growthquarter

up 5.4%

Operating income was $4.1 billion adjusted operating income* was $7.6 billion Income from continuing operations was $1.3 billion , adjusted EBITDA* was $12.5 billion , up 5.4% year over year Cash from operating activities from continuing operations was $10.5 billion

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Revenuequarter

$23.9 billion

revenue of $23.9 billion , up 6.1% year over year

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Advanced Connectivity operating incomequarter

$7.6 billion

Advanced Connectivity operating income of $7.6 billion , up 18.9% year over year with EBITDA* of $12.3 billion , up 7.3% 42.8% of households with AT T's advanced home internet services also chose AT T wireless 2 769,000 total consumer and business Advanced Connectivity internet net adds , a record quarter

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Detailed Third-Quarter 2026 Consolidated Financial Results Revenues for the third quarter totaled $32.3 billion, versus $30.7 billion in the year-ago quarter, up 5.3%.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Operating income was $4.1 billion, versus $6.1 billion in the year-ago quarter.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Adjusted operating income* was $7.6 billion, versus $6.6 billion in the year-ago quarter.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Free cash flowquarter

$5.0 billion

Free cash flow* was $5.0 billion, versus $4.9 billion in the year-ago quarter.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

AT T Third-Quarter 2026 Segment Results 6 Advanced Connectivity service revenues grew 6.1% year over year, driving growth in operating income of 18.9% and EBITDA* of 7.3%.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

AI analysis

Q3 2026 · reported Oct 21, 2026

Based on: Earnings release + parent 8-K — transcript not held

Revenue · Q3 2026
$23.9B
EX-99 · Oct 21, 2026
Free cash flow · Q3 2026
$5.0B
+2.0% +$100M vs year ago computed from stated figures
EX-99 · Oct 21, 2026
Operating income · Q3 2026
$4.1B
EX-99 · Oct 21, 2026
Adjusted operating income · Q3 2026
$7.6B
EX-99 · Oct 21, 2026

Headline figures

MetricQ3 2026Prior qtrYear ago
Operating income$4.1 billion——
Adjusted operating income$7.6 billion——
Growthup 5.4%——
Revenue$23.9 billion——
Advanced Connectivity operating income$7.6 billion——
Free cash flow$5.0 billion—$4.9 billion

EX-99 · Oct 21, 2026

Guidance · company-stated

Direction: Raised

Revenue

“PRESS RELEASE 3RD QUARTER 2026 Document AT T Delivers Strong Third-Quarter 2026 Results with Its Best Consolidated Service Revenue Growth in More Than Four Years AT T added more than 1 million Advanced Connectivity customers for a second consecutive quarter, driven by net adds across fiber, fixed wireless, and postpaid phone AT T updates outlook to reflect higher 2026 adjusted EPS* and lower long-term capital investment while remaining on track to reach more than 60 million locations with fiber by end of 2030 DALLAS, October 21, 2026 AT T Inc.”

EPS

“AT T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$5.0B

Capital allocation

Dividend$45B
Free cash flow$18B
Capex$5.1B

AT T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.5x range during 2029.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

(NYSE T) reported third-quarter results, extending the momentum of its investment-led strategy as it delivers advanced connectivity to more consumers and businesses

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “PRESS RELEASE 3RD QUARTER 2026 Document AT T Delivers Strong Third-Quarter 2026 Results with Its Best Consolidated Service Revenue Growth in More Than Four Years AT T added more than 1 million Advanced Connectivity customers for a second consecutive quarter, driven by net adds across fiber, fixed wireless, and postpaid phone AT T updates outlook to reflect higher 2026 adjusted EPS* and lower long-term capital investment while remaining on track to reach more than 60 million locations with fiber by end of 2030 DALLAS, October 21, 2026 AT T Inc.”

EPS: “AT T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.”

Revenue — Lowered (“lower”)
“PRESS RELEASE 3RD QUARTER 2026 Document AT T Delivers Strong Third-Quarter 2026 Results with Its Best Consolidated Service Revenue Growth in More Than Four Years AT T added more than 1 million Advanced Connectivity customers for a second consecutive quarter, driven by net adds across fiber, fixed wireless, and postpaid phone AT T updates outlook to reflect higher 2026 adjusted EPS* and lower long-term capital investment while remaining on track to reach more than 60 million locations with fiber by end of 2030 DALLAS, October 21, 2026 AT T Inc.”

EPS — Raised (“increasing”)
“8 billion in common share repurchases Financial Outlook and Capital Allocation Plan AT T is increasing its outlook for 2026 adjusted EPS* and lowering its long-term outlook for capital investment.”

EPS — Reiterated (“maintains”)
“AT T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.”

Classified from the release's primary full-year outlook statement.

Capital allocation

AT T maintains its long-term outlook for improved growth in adjusted EBITDA* and adjusted EPS* and higher free cash flow* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio* will return to a level consistent with its target in the 2.5x range during 2029.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Capital investment* in the $23 billion to $24 billion range in 2026 and in the $22 billion to $23 billion range annually in 2027 and 2028 Free cash flow* of $18 billion+ in 2026, $19 billion+ in 2027, and $21 billion+ in 2028 Strong capital returns , including plans to maintain its current annualized common stock dividend of $1.11 per share and $24 billion+ of share repurchases, including approximately $10 billion during 2026 Note AT T s third-quarter 2026 earnings conference call will be webcast at 8 30 a.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Operating expenses increased primarily due to a non-cash impairment charge associated with the Company s held-for-sale Mexico wireless business of $2.6 billion, employee separation charges, increased wireless equipment costs, as well as higher advertising and higher bad debt expenses driven by subscriber growth.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Capital expenditures related to continuing operations were $5.1 billion, versus $4.9 billion in the year-ago quarter.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Total debt was $159.6 billion at the end of the third quarter and net debt* was $149.8 billion, both reflecting a sequential increase related to the closing of the EchoStar spectrum transaction.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Operating expenses were up 3.6% year over year, due to increased wireless equipment costs, higher advertising expense, incremental customer costs related to the acquired mass markets fiber business, and higher bad debt expenses driven by subscriber growth.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Strategy & priorities

(NYSE T) reported third-quarter results, extending the momentum of its investment-led strategy as it delivers advanced connectivity to more consumers and businesses.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

These increases were partially offset by cost reductions from transformation initiatives and apportioned legal settlements in the prior-year period.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Depreciation expense was also lower year over year from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

These increases were partially offset by cost reductions from transformation initiatives.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Additionally, depreciation expense decreased year over year from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Risks & headwinds

Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially.

SEC original ↗AT&T — Earnings release (8-K exhibit)EX-99Oct 21, 2026

Documents

Earnings deck slides

1 deck with slide view

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

AT&T — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

T-Mobile US (TMUS) Communication ServicesSea Limited (SE) Communication ServicesRoblox (RBLX) Communication ServicesBaidu (BIDU) Communication ServicesSpotify Technology (SPOT) Communication ServicesComcast (CMCSA) Communication ServicesNetEase (NTES) Communication ServicesAppLovin (APP) Communication Services

Filings

60 documents

Earnings releases

37 documents

Presentations

9 documents

Transcripts

0 documents

No transcripts for AT&T are held in this edition of the library.

See also the earnings calendar for every tracked company’s next earnings date.