AT&T Inc. 5.35% GLB NTS 66 · TBB · FY2025 Q1 · Calendar Q2 2025

TBB analysis: fiber growth and buybacks, with wireline risks

The supplied analysis supports a mixed view: fiber, wireless, and cost actions provide operating support, but wireline decline and execution, tariff, regulatory, and churn risks limit conviction. The broader research hypothesis is not applicable to this TBB event.

Reported Before market openNYSECommunication Services $150.14B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus —
EPS surprise — Reported versus consensus
Reported revenue — Consensus —
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +1.1% Event window
SPY move +1.5% Same window
Abnormal move -0.4% Stock minus SPY
Volume 0.7× Versus trailing sessions
Subsequent drift -4.6% Up to 20 sessions
TBBSPY benchmark

Ask FN2 about TBB FY2025 Q1

Transcript, numbers and history already loaded
What drove TBB's +1.1% move after FY2025 Q1 earnings?What changed in TBB's guidance and outlook in FY2025 Q1?Give me the bull and bear case for TBB after FY2025 Q1 earnings.

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Transcript intelligence

What changed

The supplied current analysis emphasizes continued revenue and adjusted EBITDA growth, faster-than-planned fiber expansion, the start of share repurchases, and maintained guidance. It also highlights tariffs and regulatory uncertainty, while business wireline remains in decline.

Guidance delta

Management maintained guidance; the supplied analysis does not identify a change.

Key takeaways

  • The supplied analysis describes Q1 revenue and adjusted EBITDA growth driven by postpaid phone and fiber net adds.
  • Management was described as ahead of its fiber expansion schedule and focused on converged wireless and fiber customers.
  • The supplied analysis says share repurchases were to begin in the quarter, with $10 billion authorized.
  • Business wireline revenue continued to decline, while cost-saving actions were described as improving margins.
  • No reported EPS, revenue, or consensus comparison is available in the supplied facts.

Management priorities

  • Accelerate fiber deployment and expand the 5G network.
  • Increase converged customer penetration across wireless and fiber.
  • Expand the AT&T Guarantee and fixed wireless access offering.
  • Continue cost-saving actions and pursue connectivity-related investments.

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Earnings History

Estimate Beat Miss Match
TBB EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 actual $0.30, None Q1 '24 actual $0.48, None Q2 '24 actual $0.50, None Q3 '24 actual $-0.02, None Q2 '25 estimate $0.53 Q2 '25 actual $0.62, beat Q3 '25 estimate $0.54 Q3 '25 actual $1.29, beat Q4 '25 estimate $0.46 Q4 '25 actual $0.52, beat Q1 '26 estimate $0.55 Q1 '26 actual $0.54, miss Q2 '26 estimate $0.59 Q2 '26 actual $0.65, beat Q3 '26 estimate $0.60 Q3 '26 actual $0.65, beat Q4 '26 estimate $0.55 Q1 '27 estimate $0.61 Q2 '27 estimate $0.65 Q3 '27 estimate $0.68
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Analyst 52W Price Targets

$17.86Previous close
$17Low
$21.29Average
$24High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 22, 2026. Not an FN2 forecast.

Named analyst price targets

Upside is calculated against the persisted previous close $17.86. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoAnalyst unavailable$22$22.99 +23.2%Jan 10, 2023
BarclaysAnalyst unavailable$18$24.04 +0.8%Sep 29, 2022
MoffettNathansonAnalyst unavailable$17$24.85 -4.8%Aug 18, 2022
UBSAnalyst unavailable$24$24.71 +34.4%Jul 22, 2022
Cowen & Co.Analyst unavailable$24$24.72 +34.4%Jul 22, 2022
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Company context

Snapshot as of publication

AT&T Inc. operates as a parent corporation, offering a diverse portfolio of telecommunications, media, and technology services. Its business is structured into two main divisions: Communications and Latin America. The Communications division provides services to both individual consumers and corporate clients across the United States and its territories, as well as to businesses globally. In contrast, the Latin America division is dedicated to furnishing entertainment and wireless services primarily outside of the U.S. The company was founded in 1983 and has its headquarters situated in Dallas, Texas.

Historical context

All TBB earnings
-0.8%FY2026 Q3 · Calendar Q4 2026-0.9%FY2026 Q2 · Calendar Q3 2026+0.5%FY2026 Q1 · Calendar Q2 2026

Communication Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
META Meta Platforms, Inc. FY2026 Q3 · Calendar Q4 2026 -41.4% +0.5% Meta’s Q3 growth stayed strong as Muse scaled, but costs rose
T-PA AT&T Inc. FY2026 Q3 · Calendar Q4 2026 +8.0% — AT&T pairs fiber growth with lower planned capital spending
T AT&T Inc. FY2026 Q3 · Calendar Q4 2026 +8.0% -6.4% AT&T: Strong connectivity growth, higher EPS outlook, execution risks remain
T-PC AT&T Inc. FY2026 Q3 · Calendar Q4 2026 +8.0% +2.9% AT&T raises EPS outlook as fiber and connectivity growth accelerate
AMX América Móvil, S.A.B. de C.V. FY2026 Q3 · Calendar Q4 2026 — +6.2% América Móvil: Growth, M&A and cost efficiency remain in focus

Latest beats and misses

Who reports next

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Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-09T00:03:27.736600+00:00
  3. Polygon adjusted daily market bars · 2026-10-22T10:20:42.688453+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-22T10:20:42.685413+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-22. For educational purposes only; not investment advice.