AT&T (T) Q3 2025 Financial Results Summary

DALLAS, October 22, 2025 — AT&T Inc. (NYSE: T) reported strong third-quarter results that reflect ongoing customer demand for its wireless and fiber services. The company continues to execute its investment-led strategy, which has facilitated customer growth and positioned them to meet their financial outlook for the full year.

Third-Quarter Consolidated Results

• Revenues: $30.7 billion, an increase of 1.6% compared to $30.2 billion in Q3 2024.
• Diluted EPS: $1.29, a significant improvement from $(0.03) a year ago. This includes a gain from the sale of the DIRECTV investment.
• Adjusted EPS: $0.54, consistent with the previous year’s quarter.
• Operating Income: $6.1 billion versus $2.1 billion in Q3 2024.
• Adjusted Operating Income: $6.6 billion compared to $6.5 billion in the year-ago quarter.
• Net Income: $9.7 billion versus $0.1 billion in Q3 2024.
• Adjusted EBITDA: $11.9 billion, up from $11.6 billion a year prior.
• Cash from Operating Activities: $10.2 billion, unchanged from the year-ago quarter.
• Capital Expenditures: $4.9 billion compared to $5.3 billion in Q3 2024.
• Free Cash Flow: $4.9 billion, up from $4.6 billion in the prior year.

Third-Quarter Highlights

• Convergence Strategy: Over 41% of AT&T Fiber households have also subscribed to AT&T Mobility services.
• Postpaid Phone Net Additions: 405,000 with a churn rate of 0.92%.
• Mobility Service Revenues: $16.9 billion, representing a 2.3% increase year-over-year.
• Fiber Additions: 288,000 AT&T Fiber net adds and 270,000 AT&T Internet Air net adds.
• Consumer Fiber Broadband Revenue: $2.2 billion, up 16.8% year-over-year.
• Share Repurchasing: AT&T repurchased $1.5 billion in common shares during the quarter and more than $2.4 billion year-to-date under the 2024 authorization.

Notable Transactions

• Sale of DIRECTV: Completed the sale of the remaining 70% stake in DIRECTV on July 2, 2025.
• Spectrum Purchase: Announced acquisition of low-band and mid-band spectrum from EchoStar for approximately $23 billion, aimed for closing in early 2026.

Outlook for Full-Year 2025

• Consolidated Service Revenue Growth: Expected to continue in the low-single-digit range.
• Mobility Service Revenue Growth: Forecasted to exceed 3%.
• Consumer Fiber Broadband Revenue Growth: Anticipated growth within mid-to-high teens range.
• Adjusted EBITDA Growth: Expected to exceed 3%.
• Free Cash Flow: Anticipated in the low-to-mid $16 billion range.
• Annual Capital Investment: Projected to be between $22 billion to $22.5 billion.
• Share Repurchases: Authorization for $4 billion under the 2024 plan remains.

Segment Analysis

• Communications Segment Revenues: $29.5 billion, up 1.5% year-over-year with operating income down 0.8%.

• Mobility Segment:

• Operating Revenues: $21.7 billion, up 3.1%.

• Service Revenue: $16.9 billion, up 2.3%.

• Business Wireline Segment:

• Revenues of $4.2 billion, declined 7.8% year-over-year, primarily due to losses in legacy services.

• Consumer Wireline Segment:

• Revenue growth of 4.1% driven by strong performance in broadband with 16.8% growth in fiber revenues.

• Latin America Segment:

• Revenues: $1.1 billion, up 7.1% year-over-year.

Conclusion

AT&T’s performance in Q3 2025 shows solid growth across its major service areas, alongside successful operational and financial strategies, including share repurchases. The company maintains a strong outlook for the rest of the year, focusing on customer growth and infrastructure investment while managing expenditures effectively.