AT&T reported third-quarter service revenue growth of 3.8%, adjusted EBITDA growth of 5.4% and adjusted EPS of $0.65, up 20% from $0.54. It expects $18 billion plus of full-year free cash flow.
T · At&T Inc.
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At&T agreed to sell its Mexico wireless business, expecting approximately $2,000 at closing in the first quarter of 2027; Advanced Connectivity third-quarter operating income rose 18.9%, while total debt reached $159,627.
AT&T Inc. reported third-quarter 2026 revenues of $32.3 billion, up 5.3% year over year; adjusted EPS was $0.65, adjusted EBITDA was $12.5 billion, and free cash flow was $5.0 billion.
AT&T Inc. announced that Lori M. Lee will retire effective December 31, 2026, with her role eliminated in connection with the company's October 13, 2026 agreement to sell its wireless business in Mexico and other reorganization.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
Mentioned in fund letters
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $36.64B | Nine-Month Period 2026 | — |
| Adjusted EBITDA Margin non-GAAP | 38.4% | Nine-Month Period 2026 | — |
| Adjusted EPS non-GAAP | $1.86 | Nine-Month Period 2026 | — |
GAAP → non-GAAP reconciliationGAAP Diluted Earnings Per Share (EPS) From Continuing Operations $1.34
+$0 Gain on sale of DIRECTV
+$0 Equity in net income of DIRECTV
+$0.53 Restructuring and impairments
+$0.04 Benefit-related, transaction, legal and other items
-$0.05 Tax-related items
= Adjusted EPS $1.86
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| Adjusted Operating Income non-GAAP | $21.95B | Nine-Month Period 2026 | — |
GAAP → non-GAAP reconciliationGAAP Operating Income $17.79B
+$4.16B Adjustments to Operating Expenses
= Adjusted Operating Income $21.95B
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| Adjusted Operating Income Margin non-GAAP | 23% | Nine-Month Period 2026 | — |
| Advanced Connectivity Segment EBITDA non-GAAP | $35.92B | Nine-Month Period 2026 | — |
| Advanced Connectivity Segment EBITDA Margin non-GAAP | 41.5% | Nine-Month Period 2026 | — |
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| AT&T Business Fiber | 26K | Third Quarter 2026 | — |
| AT&T Fiber | 416K | Third Quarter 2026 | — |
| AT&T Internet Air (AIA) | 280K | Third Quarter 2026 | — |
| base of high-value converged relationships | 350,000 | Third-Quarter 2026 | — |
| Business Fixed Wireless | 47K | Third Quarter 2026 | — |
| Capital investment | 5.6B | Third Quarter 2026 | — |
GAAP → non-GAAP reconciliationGAAP Capital expenditures related to continuing operations 5.1B
+0.5B Cash payments for vendor financing
= Capital investment 5.6B
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| Cash paid for Capital Investment | -$16.79B | Nine-Month Period 2026 | — |
GAAP → non-GAAP reconciliationGAAP Capital expenditures -$15.64B
-$1.15B Payment of vendor financing
= Cash paid for Capital Investment -$16.79B
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| Cash payments for vendor financing | 0.5B | Third Quarter 2026 | — |
| Debt Ratio | 56.1% | September 30, 2026 | — |
| EBITDA non-GAAP | $32.7B | Nine-Month Period 2026 | — |
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GAAP → non-GAAP reconciliationGAAP Income from Continuing Operations $10.56B
+$3.35B Income Tax Expense
+$5.68B Interest Expense
+$80M Equity in Net (Income) Loss of Affiliates
-$1.88B Other (Income) Expense - Net
+$14.91B Depreciation and amortization
= EBITDA $32.7B
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| Fiber | 442K | Third Quarter 2026 | — |
| Fiber net adds | 442,000 | Third Quarter 2026 | — |
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| Fixed Wireless | 327K | Third Quarter 2026 | — |
| Fixed Wireless net adds | 327,000 | Third Quarter 2026 | — |
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| Free Cash Flow non-GAAP | $12.13B | Nine-Month Period 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Cash Provided by Operating Activities from Continuing Operations $28.92B
+$0M Distributions from DIRECTV classified as operating activities
+$0M Cash taxes paid on DIRECTV
-$15.64B Capital expenditures
-$1.15B Payment of vendor financing
= Free Cash Flow $12.13B
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| Free Cash Flow after Dividends non-GAAP | $6.21B | Nine-Month Period 2026 | — |
GAAP → non-GAAP reconciliationGAAP Free Cash Flow $12.13B
-$5.92B Dividends paid
= Free Cash Flow after Dividends $6.21B
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| Free Cash Flow Dividend Payout Ratio non-GAAP | 48.8% | Nine-Month Period 2026 | — |
| households with AT&T's advanced home internet services also chose AT&T wireless | 42.8% | Third-Quarter 2026 | — |
| Internet Connections | 16.25M | September 30, 2026 | — |
| Internet net adds | 769,000 | Third Quarter 2026 | — |
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| Latin America Segment EBITDA non-GAAP | $683M | Nine-Month Period 2026 | — |
| Latin America Segment EBITDA Margin non-GAAP | 18.8% | Nine-Month Period 2026 | — |
| Legacy Segment EBITDA non-GAAP | $1.63B | Nine-Month Period 2026 | — |
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| Legacy Segment EBITDA Margin non-GAAP | 33.2% | Nine-Month Period 2026 | — |
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| net debt non-GAAP | 149.8B | at the end of the third quarter | — |
GAAP → non-GAAP reconciliationGAAP total debt (debt maturing within one year and long-term debt) 159.6B
+1.2B debt classified as held-for-sale related to the Mexico wireless business
-10.8B cash and cash equivalents
-0.3B time deposits (i.e., deposits at financial institutions that are greater than 90 days)
= net debt 149.8B
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| Phone | 358K | Third Quarter 2026 | — |
| Phone churn | 1.19% | Third Quarter 2026 | — |
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| Postpaid | 482K | Third Quarter 2026 | — |
| Postpaid phone | 379K | Third Quarter 2026 | — |
| Postpaid phone churn | 0.92% | Third Quarter 2026 | — |
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| Postpaid phone net adds | 379,000 | Third Quarter 2026 | — |
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| Prepaid | -512K | Third Quarter 2026 | — |
| Prepaid phone | 16.45M | September 30, 2026 | — |
| Prepaid phone churn | 2.41% | Third Quarter 2026 | — |
| Reseller | -72K | Third Quarter 2026 | — |
| Retail Wireless Subscribers | 110.24M | September 30, 2026 | — |
| total consumer and business Advanced Connectivity internet net adds | 769,000 | Third-Quarter 2026 | — |
| Total Mexico Wireless Net Additions | -1.35M | Nine-Month Period 2026 | — |
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| Total Mexico Wireless Subscribers | 23.33M | September 30, 2026 | — |
| Year-over-year growth - Adjusted non-GAAP | 16.3% | Nine-Month Period 2026 | — |
| Advanced Connectivity operating income margin | 25.7% | Second Quarter 2026 filing | — |
| AT&T Business Fiber net adds | 23K | Second Quarter 2026 filing | — |
| AT&T Fiber net adds | 344K | Second Quarter 2026 filing | — |
| AT&T Internet Air (AIA) net adds | 215K | Second Quarter 2026 filing | — |
| Business Fixed Wireless net adds | 64K | Second Quarter 2026 filing | — |
| EBITDA margin non-GAAP | 42% | Second Quarter 2026 filing | — |
| Effective tax rate | 13.5% | Second Quarter 2026 filing | — |
| Mexico EBITDA margin non-GAAP | 18.5% | Second Quarter 2026 filing | — |
| Mexico operating income margin | 3.1% | Second Quarter 2026 filing | — |
| Mexico Postpaid net additions | 369K | Second Quarter 2026 filing | — |
| Mexico Reseller net additions | -31K | Second Quarter 2026 filing | — |
| Operating income margin | 22.3% | Second Quarter 2026 filing | — |
| Phone net adds | 436K | Second Quarter 2026 filing | — |
| Prepaid phone net adds | 4K | Second Quarter 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Telecom Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
T
this stock
At&T Inc.
|
$147.02B | -12.2% | +2.7% | 11.9 | 0.0% |
|
VZ
Verizon Communications Inc
|
$191.15B | +13.2% | +2.5% | 11.7 | 2.0% |
|
TMUS
T-Mobile US, Inc.
|
$170.11B | -20.9% | +8.3% | 15.5 | 0.0% |
|
DTEGY
Deutsche Telekom AG
|
$143.38B | -8.3% | — | — | 0.1% |
|
SFTBF
Softbank Group Corp.
|
$128.80B | -7.7% | — | — | 0.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 21, 2026
- This year
- 27
At&T agreed to sell its Mexico wireless business, expecting approximately $2,000 at closing in the first quarter of 2027; Advanced Connectivity third-quarter operating income rose 18.9%, while total debt reached $159,627.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| T | +4.3% | -12.3% | -9.2% | +1.9% | -12.2% |
| SPY | -4.7% | -5.3% | -0.8% | -3.0% | +7.5% |
| vs SPY | +9.0% | -7.0% | -8.4% | +4.9% | -19.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.