T
FY2026 Q2 · Calendar Q3 2026
AT&T Inc.
AT&T's Q2 2026 results reinforced its connectivity-led transformation: record fiber and fixed-wireless net additions exceeding 1 million advanced connectivity subscribers, the company's highest adjusted EBITDA margin, and a 10.2% EPS beat. Revenue narrowly missed consensus by 0.7%, but the market responded decisively -- shares rose 3.5% on the session versus a flat benchmark, then drifted 7.2% higher over subsequent days on 2.2x normal volume. Management maintained full-year guidance, raised the 2026 share-repurchase target to $10 billion, and introduced agentic AI traffic projections (9x enterprise, 7x consumer growth by 2035) as a long-term demand catalyst. Capex climbed to $6.1 billion from $5.1 billion in Q1, reflecting accelerated fiber deployment and EchoStar spectrum costs. Free cash flow of $4.7 billion topped guidance despite the heavier investment. The central question for…
EPS surprise+10.2%
Market move+3.5%
