AT&T Delivers Strong Third-Quarter 2026 Results with Its Best Consolidated Service Revenue Growth in More Than Four Years

AT&T raised its adjusted earnings outlook while the Mexico impairment weighed on reported profit.

Rhea-AI Summary

AT&T (NYSE: T) reported third-quarter 2026 revenue of $32.3 billion, with growth in advanced connectivity services and higher adjusted earnings. Revenue rose 5.3% year over year. Diluted earnings per share from continuing operations fell to $0.13 from $1.29; adjusted EPS rose to $0.65 from $0.54. Results included a $2.6 billion non-cash impairment related to the agreed Mexico wireless sale, while the prior year included a DIRECTV sale gain.

Advanced Connectivity added 769,000 internet customers and 379,000 postpaid phone customers. Free cash flow was $5.0 billion, versus $4.9 billion a year earlier. AT&T raised its 2026 adjusted EPS outlook to the $2.40 range and lowered its long-term capital investment outlook. It maintained plans to return $45 billion+ to shareholders during 2026–2028. Total debt reached $159.6 billion, reflecting a sequential increase related to the EchoStar spectrum transaction closing.

33 points · 1 major

PositiveiHow this balance works

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0 major · 16 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EPS outlook increased to the $2.40 range; AT&T targets double-digit three-year compound annual growth through 2028.
• Moderate pointThird-quarter revenue rose 5.3% year over year to $32.3 billion.
• Moderate pointAdjusted EPS increased to $0.65 from $0.54 in the year-ago quarter.
• Moderate pointAdjusted operating income rose to $7.6 billion from $6.6 billion a year earlier.
• Moderate pointAdjusted EBITDA, an adjusted earnings measure, increased 5.4% year over year to $12.5 billion.
• Moderate point769,000 internet net additions comprised 442,000 fiber and 327,000 fixed wireless customers.
• Moderate point379,000 postpaid phone net additions accompanied postpaid phone churn of 0.92%.
• Moderate pointWireless service revenue increased 5.0% year over year to $17,764 million.
• Moderate pointAdvanced home internet revenue rose 23.4% year over year to $2,975 million, including acquired-business contributions.
• Moderate pointAdvanced Connectivity operating income rose 18.9% to $7,628 million; operating margin increased 260 basis points to 25.9%.
• Moderate pointShareholder returns totaled approximately $4.8 billion, including $2.8 billion in common share repurchases. 3% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Capital investment outlook lowered to $23 billion–$24 billion in 2026 and $22 billion–$23 billion annually in 2027–2028.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026–2028 shareholder return plans remain $45 billion+, including $24 billion+ of repurchases and approximately $10 billion during 2026. 28% of market cap
• Moderate pointMexico wireless sale agreement was signed October 13, 2026, with Grupo Televisa and Fintech Holdings.
• Moderate pointForged Fiber 37 controlling-interest sale has been agreed following the acquired fiber assets’ placement in the subsidiary.

18 minor points

• Minor pointOperating cash flow from continuing operations increased to $10.5 billion from $10.2 billion a year earlier.
• Minor pointFree cash flow increased to $5.0 billion from $4.9 billion in the year-ago quarter.
• Minor pointConverged customer relationships, combining home internet and wireless, grew by approximately 350,000.
• Minor pointBusiness fiber and advanced connectivity revenue increased 8.7% year over year to $1,992 million.
• Minor pointAdvanced Connectivity equipment revenue increased 12.2% year over year to $5,579 million.
• Minor pointAdvanced Connectivity EBITDA increased 7.3% to $12,330 million; its margin remained 41.8%.
• Minor pointLegacy operating expenses decreased 23.5% year over year to $1,021 million.
• Minor pointLatin America service revenue increased 14.7% year over year to $798 million.
• Minor pointLatin America equipment revenue increased 10.8% year over year to $442 million.
• Minor pointLatin America operating income increased to $45 million from $22 million a year earlier.
• Minor pointLatin America EBITDA increased 18.6% year over year to $236 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Service revenue outlook calls for low-single-digit annual growth during 2026–2028.
• Minor point. Forward-looking: it has not happened yet and may not happen.Advanced Connectivity service revenue outlook calls for mid-single-digit annual growth, including expected growth of 5%+ in 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Adjusted EBITDA outlook targets the upper portion of 3%–4% growth in 2026, improving to 5% or better in 2028.
• Minor point. Forward-looking: it has not happened yet and may not happen.Advanced Connectivity EBITDA outlook calls for mid-to-high-single-digit annual growth, including expected growth of 6%+ in 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Free cash flow outlook remains $18 billion+ in 2026, $19 billion+ in 2027 and $21 billion+ in 2028.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fiber expansion remains on track for over 40 million locations by end-2026 and more than 60 million by end-2030.
• Minor point. Forward-looking: it has not happened yet and may not happen.Leverage outlook anticipates net debt-to-adjusted EBITDA returning to the target 2.5x range during 2029.

Negative

• Moderate pointDiluted EPS from continuing operations fell to $0.13 from $1.29; the prior year included a DIRECTV sale gain.
• Moderate pointOperating income fell to $4.1 billion from $6.1 billion in the year-ago quarter.
• Moderate pointIncome from continuing operations fell to $1.3 billion from $9.7 billion a year earlier.
• Moderate pointMexico wireless impairment resulted in a $2.6 billion non-cash charge. 1.6% of market cap
• Moderate pointTotal debt of $159.6 billion and net debt of $149.8 billion increased sequentially with the EchoStar spectrum transaction closing.

11 minor points

• Minor pointEmployee separation charges also weighed on third-quarter reported earnings.
• Minor pointCapital expenditures from continuing operations increased to $5.1 billion from $4.9 billion a year earlier.
• Minor pointVendor financing cash payments increased to $0.5 billion from $0.4 billion in the year-ago quarter.
• Minor pointAdvanced Connectivity operating expenses increased 3.6% year over year to $21,853 million.
• Minor pointBusiness transitional and other revenue decreased 14.6% year over year to $1,023 million.
• Minor pointOther service revenue in Advanced Connectivity decreased 8.6% year over year to $148 million.
• Minor pointLegacy revenue declined 24.5% year over year to $1,519 million.
• Minor pointLegacy operating income and EBITDA each fell 26.7% to $498 million; margins decreased 90 basis points to 32.8%.
• Minor pointLatin America operating expenses increased 11.4% year over year to $1,195 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.Legacy service revenue outlook anticipates a 20%+ decline in 2026 and immaterial revenue by end-2029.
• Minor point. Forward-looking: it has not happened yet and may not happen.Legacy EBITDA is expected to turn negative after 2027 until copper-network direct costs are substantially eliminated.

News Explained

AT&T expects its net debt-to-adjusted EBITDA ratio to return to a level consistent with its two-point-five-times target range during the year two thousand twenty-nine.

AT&T’s updated 2026–2028 outlook sets planned capital investment at $23 billion to $24 billion in 2026 and $22 billion to $23 billion annually in 2027 and 2028; these are spending targets, not completed outlays.

The outlook forecasts free cash flow of $18 billion or more in 2026, $19 billion or more in 2027 and $21 billion or more in 2028.

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Key Figures

Revenue: $32.3 billion, up 5.3% year over year Adjusted EPS: $0.65, versus $0.54 Diluted EPS from continuing operations: $0.13, versus $1.29 +5 more

Revenue

$32.3 billion, up 5.3% year over year

Third quarter 2026

Adjusted EPS

$0.65, versus $0.54

Third quarter 2026 versus year-ago quarter

Diluted EPS from continuing operations

$0.13, versus $1.29

Third quarter 2026 versus year-ago quarter; comparisons include different disclosed one-time items

Adjusted EBITDA

$12.5 billion, up 5.4% year over year

Third quarter 2026

Free cash flow

$5.0 billion, versus $4.9 billion

Third quarter 2026 versus year-ago quarter

Adjusted EPS outlook

$2.40 range

2026 outlook

Capital investment outlook

$22 billion to $23 billion annually

2027 and 2028 outlook

Shareholder returns plan

$45 billion+

Dividends and share repurchases during 2026–2028

Historical Context

1 past event · Latest: Oct 13

1 event

1. Oct 13

   Mexico sale agreement

   24h Move

   +0.9%

   This quarter reports held-for-sale accounting and an impairment for the Mexico wireless business.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted eps, ebitda, free cash flow, held-for-sale accounting, +1 more

5 terms

adjusted eps financial

"adjusted EPS was $0.65, versus $0.54 in the year-ago quarter"

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

ebitda financial

"adjusted EBITDA* was $12.5 billion, up 5.4% year over year"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

free cash flow financial

"Free cash flow* was $5.0 billion, versus $4.9 billion"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

held-for-sale accounting financial

"AT&T applied held-for-sale accounting in continuing operations"

An accounting classification for an asset or group of assets (and any related liabilities) that management has committed to sell in their present condition and for which a sale is expected to be completed within a short period. Once classified as held-for-sale, the asset is normally measured at the lower of its carrying amount and fair value less costs to sell, any write-down is recognized immediately, and depreciation or amortization of the asset ceases; the asset (or disposal group) is presented separately on the balance sheet and may trigger discontinued-operations reporting if it represents a distinct business component. Criteria for the classification require the asset to be available for immediate sale and the sale to be highly probable under applicable accounting standards.

churn technical

"postpaid phone churn of 0.92%"

Churn is the rate at which customers or subscribers stop using a company’s product or service over a given period; it can be measured by number of customers lost or by lost revenue. Investors care because high churn is like a leaky bucket — the company must add more new customers or spend more on marketing to keep sales and profits from falling, which can slow growth and reduce long-term value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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, Oct. 21, 2026 /PRNewswire/ -- AT&T Inc. (NYSE: T) reported third-quarter results, extending the momentum of its investment-led strategy as it delivers advanced connectivity to more consumers and businesses. The Company achieved a record quarter for Advanced Connectivity internet net adds and grew its base of high-value converged relationships by approximately 350,000. The results demonstrate the value of AT&T's differentiated fiber and 5G portfolio as it continues to accelerate growth in consolidated service revenue and improve operating efficiency, driving durable long-term profitability.  

"We are growing valuable customer relationships as more homes and businesses choose AT&T for all their advanced connectivity needs across both internet and on-the-go wireless," said John Stankey, AT&T Chairman and CEO. "Our asset base positions us well for the AI era, with a leading position in fiber – the best technology available. We're building the nation's strongest network, backed by America's Best Guarantee, to deliver faster, more reliable and more accessible connectivity."

Third-Quarter 2026 Consolidated Financial Results¹

• Revenues totaled $32.3 billion, up 5.3% year over year
• Diluted EPS from continuing operations was $0.13, which includes a non-cash impairment charge associated with the Company's held-for-sale Mexico wireless business as well as employee separation charges, versus $1.29 in the year-ago quarter, which included a gain recognized on the sale of the DIRECTV investment; adjusted EPS* was $0.65, versus $0.54 in the year-ago quarter
• 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, versus $10.2 billion in the year-ago quarter
• Capital expenditures related to continuing operations were $5.1 billion; capital investment* was $5.6 billion
• Free cash flow* was $5.0 billion, versus $4.9 billion in the year-ago quarter

Third-Quarter 2026 Highlights

• Second consecutive quarter with over 1 million Advanced Connectivity customer additions, driven by accelerated internet net adds and solid postpaid phone net adds
• Advanced Connectivity service revenue of $23.9 billion, up 6.1% year over year
• 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 wireless² 
• 769,000 total consumer and business Advanced Connectivity internet net adds, a record quarter, including 442,000 fiber and 327,000 fixed wireless
• 379,000 postpaid phone net adds with postpaid phone churn of 0.92%
• Reached more than 39 million total consumer and business locations with fiber; the Company remains on track to reach over 40 million total fiber locations by the end of 2026 and more than 60 million locations by the end of 2030³ 
• Returned approximately $4.8 billion to shareholders, including $2.8 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. 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.

AT&T's long-term outlook is presented on a continuing operations basis and, for 2027-2028, excludes AT&T Mexico, which it has agreed to sell to Grupo Televisa and Fintech Holdings.

The Company's long-term outlook for 2026-2028 includes⁴:

• Service revenue growth in the low-single-digit range annually
  • Advanced Connectivity service revenue growth in the mid-single-digit range annually, including expected growth of 5%+ in 2026
  • Legacy service revenue decline of 20%+ in 2026 and be immaterial by the end of 2029
• Adjusted EBITDA* growth in the upper portion of the 3% to 4% range in 2026, improving to 5% or better in 2028
  • Advanced Connectivity EBITDA* growth in the mid-to-high-single-digit range annually, including expected growth of 6%+ in 2026
  • Legacy EBITDA* expected to turn negative after 2027, until AT&T has substantially eliminated direct costs associated with operating its copper-based network⁵
• Adjusted EPS* in the $2.40 range in 2026 with a double-digit 3-year CAGR through 2028
• 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.m. ET on Wednesday, October 21, 2026. The webcast and related materials, including financial highlights, will be available at investors.att.com.

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%. This was largely due to growth in Advanced Connectivity wireless service and equipment revenues, and fiber revenues, which include the impact of the Company's first-quarter acquisition of Lumen's mass markets fiber business. Operating revenues in Latin America were also higher due to favorable foreign exchange impacts and growth in postpaid revenues. Offsetting the increases were lower Legacy revenues from lower demand for services as the Company continues to decommission its copper-based network.
• Operating expenses were $28.2 billion, versus $24.6 billion in the year-ago quarter. 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. The increase was also due to incremental customer costs related to the acquired mass markets fiber business. These increases were partially offset by cost reductions from transformation initiatives and apportioned legal settlements in the prior-year period. Depreciation expense was also lower year over year from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives.
• Operating income was $4.1 billion, versus $6.1 billion in the year-ago quarter. Adjusted operating income* was $7.6 billion, versus $6.6 billion in the year-ago quarter.
• Income from continuing operations was $1.3 billion, versus $9.7 billion in the year-ago quarter.
• Income from continuing operations attributable to common stock was $0.9 billion, versus $9.3 billion in the year-ago quarter. Earnings per diluted common share from continuing operations was $0.13, versus $1.29 in the year-ago quarter, which included a gain recognized on the sale of the DIRECTV investment. Adjusting for $0.52, which includes a non-cash impairment charge associated with the held-for-sale Mexico wireless business, employee separation charges, and other items, adjusted earnings per diluted common share* was $0.65, versus $0.54 in the year-ago quarter.
• Adjusted EBITDA* was $12.5 billion, versus $11.9 billion in the year-ago quarter.
• Cash from operating activities from continuing operations was $10.5 billion, versus $10.2 billion in the year-ago quarter, which included voluntary pension plan contributions. The increase also reflects timing of working capital payments.
• Capital expenditures related to continuing operations were $5.1 billion, versus $4.9 billion in the year-ago quarter. Capital investment* totaled $5.6 billion, versus $5.3 billion in the year-ago quarter. Cash payments for vendor financing totaled $0.5 billion, versus $0.4 billion in the year-ago quarter.
• Free cash flow* was $5.0 billion, versus $4.9 billion in the year-ago quarter.
• 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.

AT&T Third-Quarter 2026 Segment Results⁶

Advanced Connectivity service revenues grew 6.1% year over year, driving growth in operating income of 18.9% and EBITDA* of 7.3%. Internet net adds were 769,000 – comprised of 442,000 fiber and 327,000 fixed wireless – and postpaid phone net adds were 379,000.

Advanced Connectivity
Dollars in millions	Third Quarter				Percent
Unaudited	2026		2025		Change
Operating Revenues	$            29,481		$            27,503		7.2	%
Service	23,902		22,529		6.1	%
Wireless Service	17,764		16,926		5.0	%
Advanced Home Internet	2,975		2,411		23.4	%
Business Fiber and Advanced Connectivity	1,992		1,832		8.7	%
Business Transitional and Other	1,023		1,198		(14.6)	%
Other Service	148		162		(8.6)	%
Equipment	5,579		4,974		12.2	%
Operating Expenses	21,853		21,086		3.6	%
Operating Income	7,628		6,417		18.9	%
Operating Income Margin	25.9	%	23.3	%	260	BP
EBITDA*	$            12,330		$           11,493		7.3	%
EBITDA Margin*	41.8	%	41.8	%	—	BP

Advanced Connectivity segment revenues grew 7.2% year over year, driven by service revenue growth of 6.1% and higher equipment revenue. Wireless service revenue increased due to growth in retail wireless subscribers in underpenetrated categories and converged accounts, and pricing actions that were partially offset by promotional discounts on wireless subscriber additions. Advanced home internet revenue growth, which included an impact from the acquired mass markets fiber business that closed in the first quarter, reflects increases in fiber and AT&T Internet Air revenues. Business fiber and advanced connectivity revenues increased largely due to higher fiber and fixed wireless revenues. Business transitional and other revenues decreased due to lower demand for virtual private network and wholesale services.

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. These increases were partially offset by cost reductions from transformation initiatives. Additionally, depreciation expense decreased year over year from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives. 

Operating income was $7.6 billion, up 18.9% year over year. EBITDA* was $12.3 billion, up $837 million year over year.

Legacy revenues continued to decline year over year in line with AT&T's goal to decommission the large majority of its copper-based network by the end of 2029.

Legacy
Dollars in millions	Third Quarter				Percent
Unaudited	2026		2025		Change
Operating Revenues	$             1,519		$              2,013		(24.5)	%
Operating Expenses	1,021		1,334		(23.5)	%
Operating Income	498		679		(26.7)	%
Operating Income Margin	32.8	%	33.7	%	(90)	BP
EBITDA*	$                498		$                 679		(26.7)	%
EBITDA Margin*	32.8	%	33.7	%	(90)	BP

Legacy segment revenues were down 24.5% year over year, primarily due to lower demand for services as the Company continues to decommission its copper-based network. Operating expenses, which represent direct operating costs, were $1.0 billion, down 23.5% year over year. Expense declines were primarily driven by lower personnel and other costs resulting from the decommissioning of the copper-based network, and lower fulfillment cost amortization, partially offset by favorable vendor settlements in the prior-year period. Operating income and EBITDA* were $498 million, down $181 million year over year.

On October 13, 2026, AT&T entered into an agreement to sell its Mexico wireless business, which is the entirety of the Latin America segment. AT&T applied held-for-sale accounting in continuing operations as of September 30, 2026, and recorded a non-cash impairment charge of $2.6 billion at Corporate and Other that did not impact third-quarter segment results. AT&T will continue to present results within the Latin America segment.

Latin America
Dollars in millions	Third Quarter		Percent
Unaudited	2026	2025	Change
Operating Revenues	$                1,240	$                     1,095	13.2 %
Service	798	696	14.7 %
Equipment	442	399	10.8 %
Operating Expenses	1,195	1,073	11.4 %
Operating Income	45	22	— %
EBITDA*	236	199	18.6 %

Latin America segment revenues were up 13.2% year over year, primarily driven by favorable foreign exchange rates and postpaid wireless subscriber growth. Operating expenses were up 11.4% year over year due to unfavorable foreign exchange rates, higher bad debt expenses, and higher equipment costs. Operating income was $45 million, up $23 million year over year. EBITDA* was $236 million, up $37 million year over year.

* Further clarification and explanation of non-GAAP measures and reconciliations to the most comparable GAAP measures can be found in the "Non-GAAP Measures and Reconciliations to GAAP Measures" section of the release and at investors.att.com.

1 With the closing of the acquisition of substantially all of Lumen's Mass Markets fiber business on February 2, 2026, the fiber customer relationships were retained by AT&T and are included in the Company's quarterly results. The recently acquired fiber network assets, including certain fiber network build capabilities, were placed in a wholly owned subsidiary, Forged Fiber 37, which is classified as held-for-sale and reflected as discontinued operations. Upon acquisition, AT&T initially sought an equity partner to co-invest in Forged Fiber 37 and has since agreed to sell a controlling interest in the business.

2 Advanced home internet connections with AT&T wireless is defined as AT&T Fiber and AT&T Internet Air connections that are also primary wireless account holders that subscribe to consumer postpaid phone service. AT&T refers to these customers as converged customers. Convergence rate represents the ratio of converged customers to advanced home internet connections. This 3Q26 convergence metric is presented based on available information and is subject to revision.

3 Total consumer and business locations reached with fiber represents the sum of: (1) AT&T Owned and Operated locations, which reflect its customer locations passed by AT&T's fiber network and (2) AT&T Fiber Ventures locations, which represent locations served from the recently acquired mass markets fiber business, Gigapower, and other commercial open access providers.

4 The Company's long-term outlook for 2026-2028 is presented on a continuing operations basis and excludes discontinued operations related to Forged Fiber 37. AT&T's long-term outlook for 2027-2028 excludes the held-for-sale Mexico wireless business.

5 The strategy to remove legacy fixed costs across a geography is tied to the decommissioning of infrastructure after all customers have been upgraded to newer services. Gaining approvals could delay this decommissioning beyond 2029.

6 Effective with the Company's first-quarter 2026 reporting, AT&T revised its operating segments to reflect the evolution of its business model to focus on delivering converged advanced connectivity services.

About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 150 years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

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. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

Non-GAAP Measures and Reconciliations to GAAP Measures
Schedules and reconciliations of non-GAAP financial measures cited in this document to the most comparable financial measures under generally accepted accounting principles (GAAP) can be found at investors.att.com and in our Form 8-K dated October 21, 2026. Adjusted EPS, adjusted operating income, EBITDA, EBITDA margin, adjusted EBITDA, free cash flow, and net debt are non-GAAP financial measures frequently used by investors and credit rating agencies. The information below refers only to AT&T's continuing operations and does not include discussion of balances or activity related to discontinued operations.

Adjusted EPS is calculated by excluding from operating revenues, operating expenses, other income (expenses) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, actuarial gains and losses, significant abandonments and impairments, benefit-related gains and losses, employee separation and other material gains and losses. Non-operational items arising from asset acquisitions and dispositions include the amortization of intangible assets. While the expense associated with the amortization of certain wireless licenses and customer lists is excluded, the revenue of the acquired companies is reflected in the measure and those assets contribute to revenue generation. We also adjust for net actuarial gains or losses associated with our pension and postemployment benefit plans due to the often-significant impact on our results (we immediately recognize this gain or loss in the income statement, pursuant to our accounting policy for the recognition of actuarial gains and losses). Consequently, our adjusted results reflect an expected return on plan assets rather than the actual return on plan assets, as included in the GAAP measure of income. The tax impact of adjusting items is calculated using the adjusted effective tax rate during the quarter except for adjustments that, given their magnitude, can drive a change in the effective tax rate; in these cases, we use the actual tax expense or combined marginal rate of approximately 25%.

For 3Q26, adjusted EPS of $0.65 is diluted EPS from continuing operations of $0.13 adjusted for $0.41 impairment charge associated with the held-for-sale Mexico wireless business, $0.09 employee separation charges, and $0.02 for benefit-related, transaction, legal and other items. For 3Q25, adjusted EPS of $0.54 is diluted EPS of $1.29 minus $0.79 gain on the sale of the DIRECTV investment, plus $0.04 benefit-related, transaction, legal and other items. Transaction, legal and other costs include certain legal reserves and settlements that cover extended historical periods, novel theories of liability, and/or are unpredictable in both magnitude and timing, and therefore are distinct and separate from normal, recurring legal matters. Such costs are presented net of expected insurance recoveries.

The Company expects adjustments to 2026 reported diluted EPS from continuing operations to include acquisition-related amortization of approximately $0.3 billion (based on preliminary information), a non-cash mark-to-market benefit plan gain/loss and other items. The Company expects the mark-to-market adjustment, which is driven by interest rates and investment returns that are not reasonably estimable at this time, to be a significant item. AT&T's projected adjusted EPS depends on future levels of revenues and expenses, most of which are not reasonably estimable at this time. Accordingly, the Company cannot provide a reconciliation between this projected non-GAAP metric and the most comparable GAAP metric without unreasonable effort.

Adjusted operating income is operating income adjusted for revenues and costs the Company considers non-operational in nature, including items arising from asset acquisitions or dispositions. For 3Q26, adjusted operating income of $7.6 billion is calculated as operating income of $4.1 billion, plus adjustments of $3.5 billion, which includes the impairment charge associated with the held-for-sale Mexico wireless business. For 3Q25, adjusted operating income of $6.6 billion is calculated as operating income of $6.1 billion, plus $435 million of adjustments. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated October 21, 2026, and include transaction, legal, and other costs as discussed above.

EBITDA is income from continuing operations plus income tax, interest, and depreciation and amortization expenses minus equity in net income (loss) of affiliates and other income (expense) – net. Adjusted EBITDA is calculated by excluding from EBITDA certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, significant abandonments and impairments, benefit-related gains and losses, employee separation, and other material gains and losses. Adjustments include transaction, legal, and other costs as discussed above.

For 3Q26, adjusted EBITDA of $12.5 billion is calculated as income from continuing operations of $1.3 billion, plus income tax expense of $1.4 billion, plus interest expense of $2.0 billion, plus equity in net income (loss) of affiliates of $(10) million, minus other income (expense) – net of $0.6 billion, plus depreciation and amortization of $5.0 billion, plus adjustments of $3.4 billion, which includes the impairment charge associated with the held-for-sale Mexico wireless business. For 3Q25, adjusted EBITDA of $11.9 billion is calculated as income from continuing operations of $9.7 billion, plus income tax expense of $1.0 billion, plus interest expense of $1.7 billion, plus equity in net income (loss) of affiliates of $(20) million, minus other income (expense) – net of $6.3 billion, plus depreciation and amortization of $5.3 billion, plus adjustments of $425 million. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated October 21, 2026.

At the segment level, EBITDA is operating income before depreciation and amortization. EBITDA margin is EBITDA divided by total revenues. For 3Q26, Advanced Connectivity EBITDA of $12.3 billion is operating income of $7.6 billion plus depreciation and amortization of $4.7 billion. For 3Q25, Advanced Connectivity EBITDA of $11.5 billion is operating income of $6.4 billion plus depreciation and amortization of $5.1 billion.

Adjusted EBITDA, Advanced Connectivity EBITDA, and Legacy EBITDA estimates depend on future levels of revenues and expenses which are not reasonably estimable at this time. Accordingly, we cannot provide reconciliations between these projected non-GAAP metrics and the most comparable GAAP metrics without unreasonable effort.

Free cash flow for 3Q26 of $5.0 billion is cash from operating activities from continuing operations of $10.5 billion, minus capital expenditures of $5.1 billion and cash paid for vendor financing of $0.5 billion. For 3Q25, free cash flow of $4.9 billion is cash from operating activities of $10.2 billion, minus capital expenditures of $4.9 billion and cash paid for vendor financing of $0.4 billion. Due to high variability and difficulty in predicting items that impact cash from operating activities, capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected free cash flow and the most comparable GAAP metric without unreasonable effort.

Capital investment provides a comprehensive view of cash used to invest in our networks, product developments, and support systems. In connection with capital improvements, we have favorable payment terms of 120 days or more with certain vendors, referred to as vendor financing, which are excluded from capital expenditures and reported as financing activities. Capital investment includes capital expenditures and cash paid for vendor financing ($0.5 billion in 3Q26, $0.4 billion in 3Q25). Due to high variability and difficulty in predicting items that impact capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected capital investment and the most comparable GAAP metric without unreasonable effort.

Net debt of $149.8 billion at September 30, 2026, is calculated as total debt (debt maturing within one year and long-term debt) of $159.6 billion, plus debt classified as held-for-sale related to the Mexico wireless business of $1.2 billion, less cash and cash equivalents of $10.8 billion and time deposits (i.e., deposits at financial institutions that are greater than 90 days) of $0.3 billion. Net debt-to-adjusted EBITDA is calculated by dividing net debt by the sum of the most recent four quarters of adjusted EBITDA. Net debt and adjusted EBITDA estimates depend on future levels of revenues, expenses and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected net debt-to-adjusted EBITDA and the most comparable GAAP metrics and related ratios without unreasonable effort.

Discussion and Reconciliation of Non-GAAP Measures 

We believe the following measures are relevant and useful information to investors as they are part of AT&T's internal management reporting and planning processes and are important metrics that management uses to evaluate the operating performance of AT&T and its segments. Management also uses these measures as a method of comparing performance with that of many of our competitors. These measures should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with U.S. generally accepted accounting principles (GAAP).

On February 2, 2026, we closed our transaction with Lumen Technologies, Inc. (Lumen) and acquired substantially all of Lumen's Mass Markets fiber business. The acquisition included customer relationships, which we include with our advanced home internet services, and fiber network assets that were placed in a wholly owned subsidiary, Forged Fiber 37 Services, LLC (Forged Fiber). Upon acquisition, we initially sought an equity partner to co-invest in Forged Fiber and have since agreed to sell a controlling interest in the business. As such, Forged Fiber met the criteria of held-for-sale and accordingly is reflected as discontinued operations in the accompanying financial statements. The information below refers only to our continuing operations and does not include discussion of balances or activity of Forged Fiber.

Free Cash Flow

Free cash flow is defined as cash from operations minus cash flows related to our DIRECTV equity investment that was sold in July 2025, minus capital expenditures and cash paid for vendor financing (classified as financing activities). Free cash flow after dividends is defined as cash from operations minus cash flows related to our DIRECTV equity investment, capital expenditures, cash paid for vendor financing and dividends on common and preferred shares. Free cash flow dividend payout ratio is defined as the percentage of dividends paid on common and preferred shares to free cash flow. We believe these metrics provide useful information to our investors because management views free cash flow as an important indicator of how much cash is generated by routine business operations, including capital expenditures and vendor financing, and makes decisions based on it. Management also views free cash flow as a measure of cash available to pay debt and return cash to shareowners.

Free Cash Flow and Free Cash Flow Dividend Payout Ratio
Dollars in millions
	Third Quarter					Nine-Month Period
	2026		2025			2026		2025
Net Cash Provided by Operating Activities from Continuing Operations	$      10,519		$       10,152			$      28,915		$       28,964
Less: Distributions from DIRECTV classified as operating activities	—		—			—		(1,926)
Less: Cash taxes paid on DIRECTV	—		—			—		251
Less: Capital expenditures	(5,061)		(4,887)			(15,638)		(14,061)
Less: Payment of vendor financing	(505)		(400)			(1,148)		(823)
Free Cash Flow	4,953		4,865			12,129		12,405
Less: Dividends paid	(1,950)		(2,033)			(5,923)		(6,168)
Free Cash Flow after Dividends	$        3,003		$         2,832			$        6,206		$         6,237
Free Cash Flow Dividend Payout Ratio	39.4	%	41.8	%		48.8	%	49.7	%

Cash Paid for Capital Investment

In connection with capital improvements, we negotiate with some of our vendors to obtain favorable payment terms of 120 days or more, referred to as vendor financing, which are excluded from capital expenditures and reported in accordance with GAAP as financing activities. We present an additional view of cash paid for capital investment to provide investors with a comprehensive view of cash used to invest in our networks, product developments and support systems. 

Cash Paid for Capital Investment
Dollars in millions
	Third Quarter			Nine-Month Period
	2026	2025		2026	2025
Capital expenditures	$          (5,061)	$          (4,887)		$         (15,638)	$         (14,061)
Payment of vendor financing	(505)	(400)		(1,148)	(823)
Cash paid for Capital Investment	$          (5,566)	$          (5,287)		$         (16,786)	$         (14,884)

EBITDA

Our calculation of EBITDA, as presented, may differ from similarly titled measures reported by other companies. For AT&T, EBITDA excludes other income (expense) – net, and equity in net income (loss) of affiliates, as these do not reflect the operating results of our subscriber base or operations that are not under our control. Equity in net income (loss) of affiliates represents the proportionate share of the net income (loss) of affiliates in which we exercise significant influence, but do not control. Because we do not control these entities, management excludes these results when evaluating the performance of our primary operations. EBITDA also excludes interest expense and the provision for income taxes. Excluding these items eliminates the expenses associated with our capital and tax structures. Finally, EBITDA excludes depreciation and amortization in order to eliminate the impact of capital investments. EBITDA does not give effect to cash used for debt service requirements and thus does not reflect available funds for distributions, reinvestment or other discretionary uses. EBITDA is not presented as an alternative measure of operating results or cash flows from operations, as determined in accordance with GAAP.

These measures are used by management as a gauge of our success in acquiring, retaining and servicing subscribers because we believe these measures reflect AT&T's ability to generate and grow subscriber revenues while providing a high level of customer service in a cost-effective manner. Management also uses these measures as a method of comparing cash generation potential with that of many of its competitors. The financial and operating metrics which affect EBITDA include the key revenue and expense drivers for which management is responsible and upon which we evaluate performance.

There are material limitations to using these non-GAAP financial measures. EBITDA and EBITDA margin, as we have defined them, may not be comparable to similarly titled measures reported by other companies. Furthermore, these performance measures do not take into account certain significant items, including depreciation and amortization, interest expense, tax expense and equity in net income (loss) of affiliates. For market comparability, management analyzes performance measures that are similar in nature to EBITDA as we present it, and considering the economic effect of the excluded expense items independently as well as in connection with its analysis of net income as calculated in accordance with GAAP. EBITDA and EBITDA margin should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with GAAP.

EBITDA and Adjusted EBITDA
Dollars in millions
	Third Quarter			Nine-Month Period
	2026	2025		2026	2025
Income from Continuing Operations	$            1,306	$            9,677		$          10,563	$          19,230
Additions:
Income Tax Expense	1,390	976		3,353	3,512
Interest Expense	1,979	1,700		5,675	5,013
Equity in Net (Income) Loss of Affiliates	10	20		80	(1,905)
Other (Income) Expense - Net	(590)	(6,254)		(1,880)	(7,476)
Depreciation and amortization	4,978	5,317		14,910	15,758
EBITDA	9,073	11,436		32,701	34,132
Transaction, legal and other costs	44	487		339	615
Benefit-related (gain) loss	16	(62)		(60)	(126)
Asset impairments and abandonments and restructuring	3,372	—		3,658	504
Adjusted EBITDA1	$          12,505	$          11,861		$          36,638	$          35,125
1 See "Adjusting Items" section for additional discussion and reconciliation of adjusted items.

 

Segment EBITDA and EBITDA Margin
Dollars in millions
	Third Quarter					Nine-Month Period
	2026		2025			2026		2025
Advanced Connectivity Segment
Operating Income	$        7,628		$         6,417			$      21,826		$       18,495
Add: Depreciation and amortization	4,702		5,076			14,094		15,084
EBITDA	$      12,330		$       11,493			$      35,920		$       33,579
Total Operating Revenues	$      29,481		$       27,503			$      86,567		$       82,192
Operating Income Margin	25.9	%	23.3	%		25.2	%	22.5	%
EBITDA Margin	41.8	%	41.8	%		41.5	%	40.9	%
Legacy Segment
Operating Income	$           498		$            679			$        1,633		$         2,657
Add: Depreciation and amortization	—		—			—		—
EBITDA	$           498		$            679			$        1,633		$         2,657
Total Operating Revenues	$        1,519		$         2,013			$        4,919		$         6,583
Operating Income Margin	32.8	%	33.7	%		33.2	%	40.4	%
EBITDA Margin	32.8	%	33.7	%		33.2	%	40.4	%
Latin America Segment
Operating Income	$             45		$              22			$           103		$            111
Add: Depreciation and amortization	191		177			580		482
EBITDA	$           236		$            199			$           683		$            593
Total Operating Revenues	$        1,240		$         1,095			$        3,637		$         3,120
Operating Income Margin	3.6	%	2.0	%		2.8	%	3.6	%
EBITDA Margin	19.0	%	18.2	%		18.8	%	19.0	%

Adjusting Items

Adjusting items include revenues and costs we consider non-operational in nature, including items arising from asset acquisitions or dispositions, including the amortization of intangible assets. While the expense associated with the amortization of certain wireless licenses and customer lists is excluded, the revenue of the acquired companies is reflected in the measure and that those assets contribute to revenue generation. We also adjust for net actuarial gains or losses associated with our pension and postemployment benefit plans due to the often-significant impact on our results (we immediately recognize this gain or loss in the income statement, pursuant to our accounting policy for the recognition of actuarial gains and losses). Consequently, our adjusted results reflect an expected return on plan assets rather than the actual return on plan assets, as included in the GAAP measure of income.

The tax impact of adjusting items is calculated using the adjusted effective tax rate during the quarter except for adjustments that, given their magnitude, can drive a change in the effective tax rate, in these cases we use the actual tax expense or combined marginal rate of approximately 25%.   

Adjusting Items
Dollars in millions
	Third Quarter			Nine-Month Period
	2026	2025		2026	2025
Operating Expenses
Transaction, legal and other costs1	$                 44	$               487		$               339	$               615
Benefit-related (gain) loss	16	(62)		(60)	(126)
Asset impairments and abandonments and restructuring	3,372	—		3,658	504
Adjustments to Operations and Support Expenses	3,432	425		3,937	993
Amortization of intangible assets	80	10		221	28
Adjustments to Operating Expenses	3,512	435		4,158	1,021
Other
Equity in net income of DIRECTV	—	—		—	(1,926)
Gain on sale of DIRECTV	—	(5,479)		—	(5,479)
Benefit-related (gain) loss, impairments of investments and other	(10)	(99)		(71)	(224)
Adjustments to Income from Continuing Operations Before Income Taxes	3,502	(5,143)		4,087	(6,608)
Tax impact of adjustments	(34)	67		106	(266)
Tax-related items	—	177		365	177
Adjustments to Income From Continuing Operations	$            3,536	$          (5,387)		$            3,616	$          (6,519)
Preferred stock redemption gain	—	—		—	(90)
Adjustments to Income From Continuing Operations Attributable to Common Stock	$            3,536	$          (5,387)		$            3,616	$          (6,609)
1  Includes certain legal reserves and settlements that cover extended historical periods, novel theories of liability and/or are unpredictable in both magnitude and timing, and therefore are distinct and separate from normal, recurring legal matters. Such costs are presented net of expected insurance recoveries and are primarily associated with legacy legal matters and cybersecurity events.

Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted EPS are non-GAAP financial measures calculated by excluding from operating revenues, operating expenses, other income (expense) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, actuarial gains and losses, significant abandonments and impairments, benefit-related gains and losses, employee separation and other material gains and losses. Management believes that these measures provide relevant and useful information to investors and other users of our financial data in evaluating the effectiveness of our operations and underlying business trends.

Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted EPS should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with GAAP. AT&T's calculation of Adjusted items, as presented, may differ from similarly titled measures reported by other companies.

Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted EBITDA and Adjusted EBITDA Margin
Dollars in millions
	Third Quarter			Nine-Month Period
	2026	2025		2026	2025
Operating Income	$        4,095	$        6,119		$      17,791	$       18,374
Adjustments to Operating Expenses	3,512	435		4,158	1,021
Adjusted Operating Income	$        7,607	$        6,554		$      21,949	$       19,395
EBITDA	$        9,073	$      11,436		$      32,701	$       34,132
Adjustments to Operations and Support Expenses	3,432	425		3,937	993
Adjusted EBITDA	$      12,505	$      11,861		$      36,638	$       35,125
Total Operating Revenues	$      32,322	$      30,709		$      95,386	$       92,182
Operating Income Margin	12.7 %	19.9 %		18.7 %	19.9 %
Adjusted Operating Income Margin	23.5 %	21.3 %		23.0 %	21.0 %
Adjusted EBITDA Margin	38.7 %	38.6 %		38.4 %	38.1 %

 

Adjusted Diluted EPS
	Third Quarter				Nine-Month Period
	2026		2025		2026		2025
Diluted Earnings Per Share (EPS) From Continuing Operations	$          0.13		$              1.29		$          1.34		$              2.51
Gain on sale of DIRECTV	—		(0.79)		—		(0.79)
Equity in net income of DIRECTV	—		—		—		(0.21)
Restructuring and impairments	0.50		—		0.53		0.05
Benefit-related, transaction, legal and other items	0.02		0.04		0.04		0.04
Tax-related items	—		—		(0.05)		—
Adjusted EPS	$          0.65		$              0.54		$          1.86		$              1.60
Year-over-year growth - Adjusted	20.4	%			16.3	%
Weighted Average Common Shares Outstanding with Dilution (000,000)	6,844		7,169		6,938		7,203

Net Debt to Adjusted EBITDA

Net Debt to EBITDA ratios are non-GAAP financial measures frequently used by investors and credit rating agencies and management believes these measures provide relevant and useful information to investors and other users of our financial data. Our Net Debt to Adjusted EBITDA ratio is calculated by dividing the Net Debt by the sum of the most recent four quarters Adjusted EBITDA. Net Debt is calculated by adding debt classified as held-for-sale related to our Mexico wireless business and subtracting cash and cash equivalents and deposits at financial institutions that are greater than 90 days (e.g., certificates of deposit and time deposits), from the sum of debt maturing within one year and long-term debt.

Net Debt to Adjusted EBITDA - 2026
Dollars in millions
	Three Months Ended
	Dec. 31,		March 31,		June 30,		Sept. 30,		Four Quarters
	20251		20261		20261		2026
Adjusted EBITDA	$          11,236		$          11,795		$          12,338		$          12,505		$          47,874
End-of-period current debt									9,483
End-of-period long-term debt									150,144
Total End-of-Period Debt									159,627
Add: Mexico held-for-sale finance leases									1,209
Less: Cash and Cash Equivalents									10,767
Less: Time Deposits									250
Net Debt Balance									149,819
Annualized Net Debt to Adjusted EBITDA Ratio									3.13
1 As reported in AT&T's Form 8-K filed July 22, 2026.

 

Net Debt to Adjusted EBITDA - 2025
Dollars in millions
	Three Months Ended
	Dec. 31,		March 31,		June 30,		Sept. 30,		Four Quarters
	20241		20251		20251		20251
Adjusted EBITDA	$          10,791		$          11,533		$          11,731		$          11,861		$          45,916
End-of-period current debt									11,378
End-of-period long-term debt									128,090
Total End-of-Period Debt									139,468
Less: Cash and Cash Equivalents									20,272
Less: Time Deposits									350
Net Debt Balance									118,846
Annualized Net Debt to Adjusted EBITDA Ratio									2.59
1 As reported in AT&T's Form 8-K filed July 22, 2026.

 

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FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were AT&T's third-quarter 2026 revenue and earnings?

AT&T reported revenue of $32.3 billion, up 5.3% year over year, and diluted EPS from continuing operations of $0.13, versus $1.29. Adjusted EPS increased to $0.65 from $0.54. The quarter included a $2.6 billion non-cash Mexico wireless impairment; the prior-year quarter included a gain on the DIRECTV investment sale.

What is AT&T's updated 2026 adjusted EPS outlook?

AT&T raised its 2026 adjusted EPS outlook to the $2.40 range. It also lowered its long-term capital investment outlook, with investment expected in the $23 billion to $24 billion range in 2026 and the $22 billion to $23 billion range annually in 2027 and 2028.

Does AT&T's long-term outlook include its Mexico wireless business?

AT&T's long-term outlook excludes Mexico for 2027–2028 and is presented on a continuing operations basis. It also excludes discontinued operations related to Forged Fiber 37. The Mexico wireless business remains presented within the Latin America segment following its classification as held for sale.

What annual dividend does AT&T plan to maintain?

AT&T plans to maintain its current annualized common stock dividend of $1.11 per share. Its capital allocation plan also includes share repurchases during 2026–2028.

How many AT&T home internet households also use AT&T wireless?

42.8% of households with AT&T's advanced home internet services also chose AT&T wireless. This measure covers AT&T Fiber and Internet Air connections whose primary wireless account holders subscribe to consumer postpaid phone service. The third-quarter 2026 figure is based on available information and is subject to revision.