Overview
- AT&T reported second-quarter results on Wednesday, July 22, with adjusted earnings per share of $0.65 and revenue of $31.6 billion, slightly below Street estimates.
- The company added 432,000 net postpaid phone subscribers and 646,000 total internet net adds in Q2, including 367,000 fiber and 279,000 fixed‑wireless customers, a record for the two categories combined.
- AT&T expanded its fiber reach by just over 1 million locations in the quarter to 38.6 million and said it remains on track to exceed 40 million locations by year-end 2026 and 60 million by 2030.
- Operational gains drove cash flow and margins: free cash flow was $4.7 billion for the quarter, adjusted EBITDA rose, the company kept full‑year adjusted EPS guidance of $2.25–$2.35, and management increased planned 2026 buybacks to about $10 billion.
- The results reflect AT&T’s deliberate shift away from legacy copper services toward bundled wireless-plus‑home internet offerings, a move that is cutting churn, raising household penetration and could pressure rivals to match bundled value or speed up their own fiber builds.