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4h ago

AT&T Posts Q2 Beat and Authorizes $10 Billion Buyback

Stronger free cash flow plus heavy subscriber gains bolster AT&T's case for larger shareholder returns.

Overview

  • AT&T reported Friday that adjusted earnings per share were $0.65 for Q2, beating the $0.59 consensus estimate.
  • The company generated $4.7 billion in free cash flow for the quarter, which exceeded management’s $4.0 billion to $4.5 billion guidance range.
  • AT&T added 432,000 postpaid phone subscribers and more than 1 million advanced connectivity customers, driven by fiber, fixed wireless and 5G rollouts.
  • Management raised full‑year 2026 EPS guidance to $2.25–$2.35, kept the quarterly dividend at $0.2775 per share, and highlighted a $10 billion share‑repurchase authorization.
  • The stock jumped about 4.8% on the news and drew analyst upgrades, yet AT&T still trades near 6.7x forward EV/EBITDA below Verizon and T‑Mobile which leaves room for a potential valuation re‑rating if cash momentum continues.