Jun 2026 (Q2 FY26) — Jul 22, 2026
AT&T Q2 FY26 — Accelerated Growth and Strategic Execution
Read the full callAT&T (T) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
AT&T earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 31,558 | +2.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 22.3 | +1.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 4,627 | +2.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
36 of 38 judged targets kept · 44 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated adjusted EBITDA growth improvement versus prior quarter | improved growth versus the first quarter (2.3%) | Mar 2026 | Adjusted EBITDA was up 5.2% year-over-year, and our adjusted EBITDA margin increased 110 basis points to 39.1%. | Achieved |
| Capital investment | $4.5 billion to $5 billion | Mar 2025 | higher capital investment of $6.1 billion compared to $5.1 billion a year ago. | Missed |
| Advanced home Internet service revenue growth (reported) | exceed 30% | Dec 2025 | is it possible that you're going to see broadband come in a little less than we guided. The broadband guidance is a little less and wireless a little more? Yes. | At Risk |
2 of AT&T INC.'s 82 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 79 more targets are in the full ledger.
Claimed
- Gained over 1 million advanced connectivity subscribers (fiber, fixed wireless, and postpaid phones) with higher net additions year-over-year.
- Achieved best ever Q2 for AT&T fiber net adds and a record quarter for combined fiber and fixed wireless net adds.
- Consolidated adjusted EBITDA grew 5.2% year-over-year, with margin increasing 110 basis points to 39.1%.
- Adjusted EPS increased over 20% year-over-year to $0.65.
- Increased planned share repurchases for FY26 by 25% to approximately $10 billion.
Qualified
- Fiber ARPU declined 1.3% year-over-year, primarily due to the full quarter impact of the Lumen transaction.
- Legacy segment service revenues declined 26% year-over-year and EBITDA declined about 46%.
- Net debt to adjusted EBITDA is expected to increase to the 3.2x range following the EchoStar spectrum acquisition.
Price
$23.2 −1.02% · −$0.24
Performance −11.9% 1Y
1Y: $26.34 on 17 Oct 2025 → $23.2. High $29.1 (27 Mar 2026), low $20.48 (1 Jul 2026).
- Previous close
- $23.44
- 52-week range
- $20.48 – $29.1
- One year
- −11.11%
Overview
- Symbol
- T
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
36 of 38 judged targets kept · 44 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Consolidated adjusted EBITDA growth improvement versus prior quarter | improved growth versus the first quarter (2.3%) | Mar 2026 | Adjusted EBITDA was up 5.2% year-over-year, and our adjusted EBITDA margin increased 110 basis points to 39.1%. | Achieved |
| Capital investment | $4.5 billion to $5 billion | Mar 2025 | higher capital investment of $6.1 billion compared to $5.1 billion a year ago. | Missed |
| Advanced home Internet service revenue growth (reported) | exceed 30% | Dec 2025 | is it possible that you're going to see broadband come in a little less than we guided. The broadband guidance is a little less and wireless a little more? Yes. | At Risk |
Claimed
- Gained over 1 million advanced connectivity subscribers (fiber, fixed wireless, and postpaid phones) with higher net additions year-over-year.
- Achieved best ever Q2 for AT&T fiber net adds and a record quarter for combined fiber and fixed wireless net adds.
- Consolidated adjusted EBITDA grew 5.2% year-over-year, with margin increasing 110 basis points to 39.1%.
- Adjusted EPS increased over 20% year-over-year to $0.65.
- Increased planned share repurchases for FY26 by 25% to approximately $10 billion.
Qualified
- Fiber ARPU declined 1.3% year-over-year, primarily due to the full quarter impact of the Lumen transaction.
- Legacy segment service revenues declined 26% year-over-year and EBITDA declined about 46%.
- Net debt to adjusted EBITDA is expected to increase to the 3.2x range following the EchoStar spectrum acquisition.
The full ledger
Open AT&T INC.’s full ledger
A free account opens 5 company ledgers a month. All 82 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
AT&T Q1 FY26 — Strong Fiber and 5G Customer Growth Drives Convergence
Read the full callDec 2025 (Q4 FY25) — Jan 28, 2026
AT&T Q4 FY25 — Strong Growth in Advanced Connectivity and Shareholder Returns
Read the full callEvery analysed call
AT&T earnings calls (T)
Financials
What the filings say
Net profit, year on year: +3% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 30,213 | 32,298 | 30,626 | 30,847 | 30,709 | 33,466 | 31,506 | 31,558 |
| Expenses | 28,097 | 26,972 | 24,872 | 24,346 | 24,590 | 27,678 | 24,848 | 24,520 |
| Operating profit | 2,116 | 5,326 | 5,754 | 6,501 | 6,119 | 5,788 | 6,658 | 7,038 |
| Operating margin | 7.0% | 16.5% | 18.8% | 21.1% | 19.9% | 17.3% | 21.1% | 22.3% |
| Other income | -686 | -18 | 237 | -403 | 4,534 | -1,523 | -1,260 | -1,216 |
| Interest | 1,675 | 1,661 | 1,658 | 1,655 | 1,700 | 1,791 | 1,813 | 1,883 |
| Profit before tax | 1,430 | 5,308 | 5,991 | 6,098 | 10,653 | 4,265 | 5,398 | 5,822 |
| Tax rate | 89.9% | 17.0% | 21.7% | 20.3% | 9.2% | 2.6% | 21.8% | 13.5% |
| Net profit | -174 | 4,080 | 4,351 | 4,500 | 9,314 | 3,788 | 3,829 | 4,627 |
| EPS ($ per share) | -0.03 | — | 0.61 | 0.62 | 1.29 | — | 0.54 | 0.66 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 7,621 | 7,621 | 7,621 | 7,621 | 7,621 | 7,621 | 7,621 | 7,621 |
| Reserves | 58,753 | 57,936 | 37,457 | 42,350 | -19,415 | -5,015 | 1,871 | 15,768 |
| Total liabilities | 337,980 | 349,735 | 346,521 | 367,767 | 296,396 | 289,618 | 276,550 | 293,707 |
| Fixed assets | 131,473 | 130,128 | 121,104 | 121,649 | 127,445 | 128,489 | 128,871 | 131,559 |
| Total assets | 531,864 | 551,669 | 525,761 | 551,622 | 402,853 | 407,060 | 394,795 | 420,198 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 43,602 | 48,668 | 43,130 | 41,957 | 35,812 | 38,314 | 38,771 | 40,284 |
| Cash from investing | -63,145 | -16,690 | -13,548 | -32,089 | — | -19,660 | -17,490 | -18,777 |
| Cash from financing | -25,989 | -25,083 | -32,007 | 1,578 | — | -15,614 | -24,708 | -6,386 |
| Net cash flow | -45,532 | 6,895 | -2,425 | 11,446 | — | — | — | — |
| Capital expenditure | -21,251 | -19,635 | -14,690 | -15,545 | -19,626 | -17,853 | -20,263 | -20,842 |
| Free cash flow | 22,351 | 29,033 | 28,440 | 26,412 | 16,186 | 20,461 | 18,508 | 19,442 |
T revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Advanced Connectivity | — | — | — | — | — | — | 90% | 91% | — |
| Legacy | — | — | — | — | — | — | 6% | 5% | — |
| Latin America | — | — | — | — | — | — | 4% | 4% | — |
| Corporate and Other | <1% | <1% | <1% | <1% | <1% | <1% | <1% | <1% | -7.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
T operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Postpaid phone net additions Mobility | 324KService revenue growth was primarily driven by strong customer growth, including 324,000 postpaid phone net adds as well as continued postpaid phone ARPU growth.Source: earnings call transcript | 405KWe reported 405,000 postpaid phone net adds, which is up slightly from the third quarter of last year.Source: earnings call transcript | 294KOur wireless service revenue growth was primarily driven by growth in our customer base, including 294,000 postpaid phone net adds in the first quarter.Source: earnings call transcript | 432KWireless service revenues grew 3.3% year-over-year, driven by growth in our customer base, including 432,000 postpaid phone net adds and the uplift from pricing actions that took effect during the second quarter.Source: earnings call transcript | +46.9% |
| Postpaid phone churn Mobility | 0.83%Postpaid phone churn of 0.83% was up 11 basis points from the first quarter last year.Source: earnings call transcript | 0.92%Postpaid phone churn was 0.92%, up 14 basis points versus a year ago.Source: earnings call transcript | — | — | +0.1 pt |
| Fiber net additions Consumer Wireline | 261KWe delivered 261,000 AT&T Fiber net adds, up from 252,000 in the first quarter of last year.Source: earnings call transcript | 288KWe added 288,000 AT&T fiber customers during the third quarter, reflecting seasonal tailwinds and the continued expansion of our fiber footprint.Source: earnings call transcript | 273KThis was our best ever first quarter, and included 273,000 fiber net adds and 239,000 Internet Air net adds.Source: earnings call transcript | — | -5.2% |
| Fixed wireless access net additions AT&T Internet Air | 181KAT&T Internet Air net adds were 181,000 in the quarter, which is a significant improvement from a year ago, driven by broader availability across our distribution channels.Source: earnings call transcript | 270KWe also reported 270,000 AT&T Internet Air net adds, doubling our subscriber gains year-over-year.Source: earnings call transcript | 239KThis was our best ever first quarter, and included 273,000 fiber net adds and 239,000 Internet Air net adds.Source: earnings call transcript | — | -11.5% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
182 filings between Oct 23, 2025 and Oct 6, 2026.
Open market
decisions to buy or sellNobody bought or sold T on the open market in this window. The filings below are 55 awards, 38 option exercises, 55 tax withholdings, 18 gifts and 16 dispositions to the issuer.
Compensation
not trading decisions- 55
- Award — granted as compensation
- 38
- Option exercise — converted options into shares
- 55
- Tax withheld — shares kept back by the company to cover tax
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 6, 2026 | Cakaric Darcie M. SEVP and Chief HR Officer | Tax withheld | 15,211 | $368.7K |
| Oct 6, 2026 | Cakaric Darcie M. SEVP and Chief HR Officer | Option exercise | 38,655 | $0 |
| Sep 30, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 145 | $3.5K |
| Sep 30, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 369 | $9.0K |
| Sep 30, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 1,836 | $44.8K |
| Sep 30, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 512 | $12.5K |
| Sep 1, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Tax withheld | 9,248 | $239.4K |
| Aug 31, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 1,730 | $44.8K |
| Aug 31, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 127 | $3.3K |
| Aug 31, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 348 | $9.0K |
| Aug 31, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 483 | $12.5K |
| Jul 31, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 168 | $3.9K |
| Jul 31, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 500 | $11.6K |
| Jul 31, 2026 | STANKEY JOHN T CEO & President | Award | 928 | $21.6K |
| Jul 31, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 2,690 | $62.5K |
| Jul 31, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 3,487 | $81.1K |
| Jun 30, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 417 | $8.6K |
| Jun 30, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 604 | $12.5K |
| Jun 30, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 2,003 | $41.5K |
| Jun 30, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 158 | $3.3K |
| May 29, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 504 | $12.5K |
| May 29, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 1,630 | $40.4K |
| May 29, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 132 | $3.3K |
| May 29, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 226 | $5.6K |
| Apr 30, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 305 | $8.0K |
| Apr 30, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 2,867 | $74.9K |
| Apr 30, 2026 | STANKEY JOHN T CEO & President | Award | 817 | $21.3K |
| Apr 30, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 145 | $3.8K |
| Apr 30, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 2,236 | $58.4K |
| Mar 31, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 1,588 | $46.0K |
| Mar 31, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 13,018 | $377.4K |
| Mar 31, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 194 | $5.6K |
| Mar 31, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 121,298 | $3.52M |
| Mar 10, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Tax withheld | 1,231 | $35.7K |
| Mar 10, 2026 | Desroches Pascal Sr. Exec VP and CFO | Tax withheld | 52,252 | $1.51M |
| Mar 10, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Tax withheld | 1,137 | $33.0K |
| Mar 10, 2026 | McElfresh Jeffery S. Chief Operating Officer | Tax withheld | 3,390 | $98.2K |
| Mar 10, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Gift | 2,094 | $0 |
| Mar 10, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Gift | 2,094 | $0 |
| Feb 28, 2026 | McElfresh Jeffery S. Chief Operating Officer | Award | 278 | $7.8K |
| Feb 28, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Award | 201 | $5.6K |
| Feb 28, 2026 | Sabrina Sanders S SVP-ChiefActngOfcr&Controller | Award | 111 | $3.1K |
| Feb 28, 2026 | Desroches Pascal Sr. Exec VP and CFO | Award | 1,443 | $40.4K |
| Feb 25, 2026 | Desroches Pascal Sr. Exec VP and CFO | Gift | 352,000 | $0 |
| Feb 25, 2026 | Desroches Pascal Sr. Exec VP and CFO | Gift | 352,000 | $0 |
| Feb 18, 2026 | STANKEY JOHN T CEO & President | Gift | 199,244 | $0 |
| Feb 18, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Gift | 60,924 | $0 |
| Feb 18, 2026 | Lee Lori M Global Mktg Ofr & SEVP Intl | Gift | 60,924 | $0 |
| Feb 18, 2026 | STANKEY JOHN T CEO & President | Gift | 199,244 | $0 |
| Feb 18, 2026 | McAtee David R II Sr. Exec. VP and Gen. Counsel | Gift | 126,479 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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