EarningsQ2 2026 Earnings Report
DE:SOBA Q2 2026 EPS Results
Actual EPS€0.58
Consensus EPS€0.53
Beat/MissBeat by +€0.05
One Year Ago EPS€0.48
DE:SOBA Q2 2026 Revenue Results
Actual Revenue€28.16B
Expected Revenue€28.37B
Beat/MissMissed by -€211.50M
YoY Revenue Growth+2.30%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
DE:SOBA Upcoming Earnings
AT&T's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:SOBA Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum driven by Advanced Connectivity: accelerating subscriber adds, improving converged penetration, double-digit growth in key metrics (adjusted EBITDA and EPS growth), a free cash flow beat, and an enlarged share buyback program. The company is also executing a deliberate transformation (fiber build, Lumen integration, legacy copper retirement) that requires elevated capex and causes meaningful near-term declines in legacy revenues and temporary leverage headwinds. Given the clear revenue/EBITDA/margin gains, robust cash generation, and strategic positioning for AI-driven demand — balanced against planned legacy declines, higher capex, and short-term leverage impact — the net tone of the call is positive.Company Guidance
Strong Subscriber Adds and Convergence Momentum
Gained more than 1 million Advanced Connectivity subscribers (fiber, fixed wireless, postpaid phones) in Q2; best-ever Q2 for AT&T Fiber net adds and a record quarter for combined fiber and fixed wireless net adds. 42.5% of advanced home internet customers also have a postpaid wireless account (45% ex-Lumen). June converged gross adds in Lumen territories were up 45% vs. February.
Robust Revenue and EBITDA Growth
Total revenue up 2.3% YoY; service revenue up 2.7% YoY. Adjusted EBITDA increased 5.2% YoY and adjusted EBITDA margin rose 110 basis points to 39.1%, the highest consolidated adjusted EBITDA margin since the company refocused on Advanced Connectivity.
Earnings and Cash Flow Beat
Adjusted EPS $0.65 in Q2, up >20% from $0.54 a year ago. Free cash flow was $4.7 billion, roughly $300 million higher YoY and above guidance ($4.0B-$4.5B). Full-year free cash flow outlook reiterated at $18B+.
Advanced Connectivity Segment Outperformance
Advanced Connectivity service revenues grew 5.1% YoY (accelerating 150 bps vs Q1). Advanced Connectivity EBITDA rose 8% YoY. Advanced home internet service revenues grew >27% YoY, driven by accelerated fiber deployment and Lumen acquisition contribution.
Wireless Momentum
Wireless service revenues grew 3.3% YoY. Added 432,000 postpaid phone net adds and 147,000 consumer postpaid wireless accounts (best result in >3 years). Postpaid phone ARPU grew YoY while postpaid phone churn declined.
Accelerated Fiber Build and Lumen Integration
Company expects its largest fiber expansion year ever: plan to reach 8 million new locations in 2026 including >4 million acquired from Lumen. Added over 1 million fiber locations in Q2 and is scaling operations/branding in Lumen footprint to drive penetration.
Capital Return and Balance Sheet Actions
Returned $4.1 billion to shareholders in Q2 (including ~$2.2B of share repurchases). Increased 2026 buyback plan by ~25% to ~ $10 billion (from $8B). Net debt / adjusted EBITDA at 2.68x; expect temporary increase to ~3.2x after EchoStar spectrum transaction, then returning to ~2.5x within ~3 years.
Operational Transformation Progress
Cost-transformation momentum with target of $4 billion consolidated annual cost savings by end of 2028. Progress in legacy network retirement: FCC permissions to discontinue legacy copper services in ~60% of wire centers in California and >30% of wire centers nationwide (effective by late 2026).
DE:SOBA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed