AT&T lifts adjusted EPS outlook and AT&T stock trades at EUR 19.64 pre-market

Published on 10/22/2026 at 11:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue reached USD 32.3 billion. AT&T stock costs EUR 19.64 on October 22, 2026 and had a USD 150.1 billion market value.

Earnings and guidance update

AT&T reported adjusted earnings per share of USD 0.65 for the third quarter on October 21, 2026.
The 2026 adjusted earnings outlook moved to USD 2.40 from USD 2.25-2.35.
AT&T stock traded at EUR 19.64 at 11:15 a.m. CEST on October 22, 2026.

Aquarellbild einer Großstadtsilhouette mit Telekommunikationstürmen im pastellfarbenen Abendhimmel — AT&T Inc. Stadtpanorama mit Sendemasten als Aquarell gemalt für Aktie US00206R1023 Telekommunikationssektor, Illustration mit AI erstellt.

AT&T Inc. (US00206R1023) lifted its 2026 adjusted earnings outlook to USD 2.40 after reporting third-quarter revenue of USD 32.3 billion on October 21, 2026. According to AT&T, adjusted earnings per share reached USD 0.65, up from USD 0.54 a year earlier, while the company also reported a USD 2.6 billion non-cash impairment charge tied to its Mexico wireless business.

Growth meets a higher charge

The latest quarter showed operating growth alongside a sharp accounting impact. Revenue rose 5.3 percent from USD 30.7 billion in the third quarter of 2025, while adjusted EBITDA increased 5.4 percent to USD 12.5 billion. Cash from operating activities reached USD 10.5 billion, compared with USD 10.2 billion a year earlier, and free cash flow was USD 5.0 billion versus USD 4.9 billion.

Advanced Connectivity remained the main operating driver. Service revenue in that segment grew 6.1 percent to USD 23.9 billion, operating income increased 18.9 percent to USD 7.6 billion, and AT&T added 769,000 advanced internet connections, including 442,000 fiber additions and 327,000 fixed wireless additions.

What does the guidance mean for margins?

AT&T now expects 2026 adjusted EBITDA growth in the upper portion of the 3 percent to 4 percent range and adjusted earnings per share near USD 2.40, compared with its previous USD 2.25-2.35 range. The company also projects 2026 capital investment of USD 23 billion to USD 24 billion and free cash flow above USD 18 billion.

Three events frame the quarter

On July 22, 2026, AT&T reported second-quarter revenue of USD 31.558 billion, according to Moomoo. On October 13, 2026, AT&T agreed to sell its Mexico wireless business for USD 2.00 billion, as MarketScreener reported. On October 21, 2026, the company published third-quarter revenue of USD 32.3 billion and its higher outlook.

Analysts cut targets after results

Goldman Sachs lowered its AT&T price target from USD 30 to USD 27 while keeping a Buy rating, according to Markets Insider on October 21, 2026. The report cited weaker postpaid phone additions and higher customer acquisition costs as counterweights to the earnings improvement.

Dates and investor reference points

AT&T's October 21, 2026 earnings release and conference call provide the latest dated company milestones. Management said further detail on the drivers behind its USD 19 billion-plus 2027 free cash flow outlook would come with the fourth-quarter earnings report early next year.

Stock trades in pre-market

AT&T's current price highlights the tension between stronger operating metrics and concerns about charges, leverage and subscriber growth. The company reported total debt of USD 159.6 billion at September 30, 2026, while its market capitalization stood at USD 150.1 billion on October 21, 2026.

AT&T stock was trading at EUR 19.64 at Lang & Schwarz on October 22, 2026 at 11:15 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of AT&T stock.