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TBullishEarningsShort Term

High materiality8/10

AT&T Delivers Strong Second-Quarter Results as Investment-Led Strategy Gains Momentum

StockNews.AIJul 22, 6:30 AM EDT1 source

Trading thesisImportance 8/10

Position T to benefit from buyback acceleration and fiber/wireless growth over 6–12 months.

AI summary

What happened and why it matters

AT&T delivered a solid Q2 2026, reaffirming its multi-year guidance and accelerating capital returns with about $10 billion planned for 2026. The company posted $31.6 billion in revenue (+2.3% YoY) and expanded its converged Advanced Connectivity base, including more than 1 million net adds. With the Lumen fiber acquisition now closed and copper decommissioning advancing, AT&T remains focused on fiber/wireless growth and higher cash flow through 2028.

AT&T accelerates buybacks to roughly $10B in 2026, supporting shares.
Advanced Connectivity adds exceed 1M in Q2, reinforcing fiber/wireless growth.
Lumen fiber acquisition closed; increased fiber reach and cash-flow leverage.
Legacy copper decommissioning remains a drag but improves long-term margins.

Sentiment rationale

Strong quarterly execution, reaffirmed multi-year guidance, and a sizable buyback plan signal earnings visibility and capital discipline; further upside potential from fiber/wireless scale and debt metrics improving toward target ranges.

Key facts

01
Q2 2026 revenue $31.6B, up 2.3% YoY; growth driven by Advanced Connectivity.
02
Added over 1 million Advanced Connectivity customers; fiber and fixed wireless net adds strong.
03
Reaffirms 2026-2028 guidance; accelerates share repurchases to about $10B in 2026.
04
Closed Lumen Mass Markets fiber acquisition; Forged Fiber held-for-sale; Copper decommissioning continues.
05
Outlook: fiber locations target >40M by 2026 and >60M by 2030; legacy declines to shrink.

Earnings

Earnings; reflects AT&T's investment-led model, cash-flow discipline, and concurrent corporate developments (Lumen deal, held-for-sale Forged Fiber) that influence valuation and leverage.