AT&T (T) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and AT&T published the results on October 21, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. AT&T reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Diluted EPS on this page is from continuing operations, the figure AT&T's release leads with. Including a $0.01 loss from discontinued operations (the Forged Fiber 37 fiber network assets held for sale), total diluted EPS was $0.12, against $1.29 a year earlier.
• Effective with its first-quarter 2026 reporting, AT&T revised its operating segments into Advanced Connectivity, Legacy and Latin America. On October 13, 2026 it agreed to sell its Mexico wireless business, the whole Latin America segment, and recorded a $2.6 billion non-cash impairment at Corporate and Other.
• The year-ago EPS of $1.29 included a gain on the sale of AT&T's DIRECTV investment, which AT&T counts as $0.79 of EPS.

Source: AT&T Q3 2026 earnings release, October 21, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How AT&T splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• AT&T's Advanced Connectivity revenue was $29.5 billion in Q3 2026, up 7% from $27.5 billion in Q3 2025, 91% of total revenue.
• AT&T's Legacy revenue was $1.5 billion in Q3 2026, down 25% from $2.0 billion in Q3 2025, 5% of total revenue.
• AT&T's Latin America revenue was $1.2 billion in Q3 2026, up 13% from $1.1 billion in Q3 2025, 4% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

AT&T raised its 2026 adjusted EPS outlook and lowered its long-term capital investment outlook with these results. The 2027 and 2028 figures exclude the Mexico wireless business it has agreed to sell.

In its Q3 2026 release, AT&T said:

“Adjusted EPS* in the $2.40 range in 2026 with a double-digit 3-year CAGR through 2028”

“Adjusted EBITDA* growth in the upper portion of the 3% to 4% range in 2026, improving to 5% or better in 2028”

“Capital investment* in the $23 billion to $24 billion range in 2026 and in the $22 billion to $23 billion range annually in 2027 and 2028”

“Free cash flow* of $18 billion+ in 2026, $19 billion+ in 2027, and $21 billion+ in 2028”

Source: AT&T Q3 2026 earnings release, Oct 21, 2026.

This is the company's own guidance as of Oct 21, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the T forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total operating revenues and diluted EPS from each quarter's financial statements exhibit (Exhibit 99.2 to the earnings 8-K). From 2026 the EPS shown is from continuing operations; earlier quarters had no discontinued operations. Q3 2025 EPS included the gain on the DIRECTV sale.

AT&T's next report is expected around January 27, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 21, 2026

AT&T reported total operating revenues of $32,322 million in Q3 2026, up 5.3% from $30,709 million: service revenues of $26,301 million and equipment revenues of $6,021 million. The Advanced Connectivity segment, wireless and fiber and fixed wireless internet, brought in $29,481 million. Legacy copper-based services brought in $1,519 million and Latin America (Mexico wireless) $1,240 million. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T selected financial statements and operating data, Q3 2026 (Exhibit 99.2), Oct 21, 2026)

Within Advanced Connectivity, wireless service revenue rose 5.0% to $17,764 million, which AT&T attributed to growth in retail wireless subscribers and converged accounts and to pricing actions, partly offset by promotional discounts. Advanced home internet revenue rose 23.4% to $2,975 million on fiber and AT&T Internet Air, including the Lumen mass markets fiber business AT&T acquired on February 2, 2026 for $5,756 million. Equipment revenue rose 12.2% to $5,579 million. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T Form 10-Q, Q3 2026, Oct 21, 2026)

AT&T added 379,000 postpaid phones and 769,000 internet connections in the quarter, a record for Advanced Connectivity internet net adds: 442,000 fiber and 327,000 fixed wireless. It ended September with 75,283 thousand postpaid phone subscribers, 13,310 thousand fiber connections and 2,938 thousand fixed wireless connections. 42.8% of households with AT&T's advanced home internet also took AT&T wireless. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T selected financial statements and operating data, Q3 2026 (Exhibit 99.2), Oct 21, 2026)

Legacy revenues fell 24.5% as AT&T decommissions its copper-based network, which it aims to do for the large majority of that network by the end of 2029. Latin America revenues rose 13.2%, mainly on favorable foreign exchange and postpaid subscriber growth, and AT&T agreed on October 13, 2026 to sell that business, with closing expected in the first quarter of 2027. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T Form 10-Q, Q3 2026, Oct 21, 2026)

AT&T's diluted EPS from continuing operations was $0.13 in Q3 2026, against $1.29 a year earlier, while adjusted EPS was $0.65, against $0.54. The $0.52 gap is a $0.41 impairment charge on the held-for-sale Mexico wireless business, $0.09 of employee separation charges and $0.02 of benefit-related, transaction, legal and other items. The year-ago $1.29 included a $0.79 gain on the sale of the DIRECTV investment. (AT&T Q3 2026 earnings release, Oct 21, 2026)

AT&T's adjusted EPS excludes items it calls non-operational or non-recurring, among them dispositions, merger integration and transaction costs, actuarial gains and losses on benefit plans, significant impairments, employee separation and the amortization of intangible assets from acquisitions. Operating income was $4.1 billion and adjusted operating income $7.6 billion. The effective tax rate was 51.6% in the quarter, against 9.2% a year earlier, when the DIRECTV gain was tax-free. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T Form 10-Q, Q3 2026, Oct 21, 2026)

Weighted average diluted shares fell 4.5% to 6,844 million from 7,169 million. AT&T returned approximately $4.8 billion to shareholders in the quarter, including $2.8 billion of common share repurchases, and over the first nine months of 2026 bought back approximately 232 million shares for $5,731 million under its December 2024 authorization and 59 million shares for $1,504 million under its January 2026 authorization. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T selected financial statements and operating data, Q3 2026 (Exhibit 99.2), Oct 21, 2026; AT&T Form 10-Q, Q3 2026, Oct 21, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

AT&T publishes a numeric outlook in its release. With Q3 2026 results it raised its 2026 adjusted EPS outlook to the $2.40 range and lowered its long-term capital investment outlook. It now expects capital investment in the $23 billion to $24 billion range in 2026 and $22 billion to $23 billion a year in 2027 and 2028. It expects free cash flow of $18 billion+ in 2026, $19 billion+ in 2027 and $21 billion+ in 2028, and plans to return $45 billion+ to shareholders during 2026-2028, including approximately $10 billion of share repurchases during 2026. (AT&T Q3 2026 earnings release, Oct 21, 2026)

AT&T's outlook for 2027 and 2028 excludes AT&T Mexico, which it agreed to sell to Grupo Televisa and Fintech Holdings. It expects its net debt-to-adjusted EBITDA ratio to return to its target in the 2.5x range during 2029; net debt was $149.8 billion at the end of the quarter, up sequentially after the closing of the EchoStar spectrum transaction, a purchase of FCC licenses for $22,650 million. (AT&T Q3 2026 earnings release, Oct 21, 2026; AT&T Form 10-Q, Q3 2026, Oct 21, 2026)

A consensus figure is the average of the models published by the analysts who cover AT&T, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones AT&T's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning T is on is T a buy or a sell?, what analysts expect next is on the T forecast, and what the company does is on the AT&T (T) stock page.

Every number on this page can be traced to a document AT&T published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.