European Investor
28 Jan 2026, 16:42
AT&T reported strong fourth-quarter and full-year 2025 results, meeting or exceeding all consolidated financial guidance as growth in converged fiber and 5G customers drove higher profitability and cash generation.
In the fourth quarter, AT&T posted revenues of $33.5 billion and free cash flow of $4.2 billion, up from $4.0 billion a year earlier. Adjusted EPS rose to $0.52 from $0.43, supported by solid operating performance and continued customer momentum. The company added 421,000 postpaid phone subscribers, kept churn below 1%, and delivered more than half a million combined advanced home internet net additions for the second consecutive quarter, led by strong AT&T Fiber growth.
For the full year, revenues reached $125.6 billion, diluted EPS increased to $3.04, and free cash flow rose to $16.6 billion. AT&T added more than 1.5 million postpaid phone customers for the fifth straight year, surpassed one million fiber net adds for the eighth consecutive year, and expanded fiber availability to 32 million consumer and business locations. Consumer wireline fiber revenues grew 17% year over year, highlighting the success of the company’s convergence strategy.
AT&T returned more than $12 billion to shareholders in 2025 through dividends and share repurchases and now expects to return over $45 billion between 2026 and 2028. Management reaffirmed a long-term outlook for improved growth in adjusted EBITDA and adjusted EPS, alongside higher free cash flow through 2028, driven by continued investment in fiber and 5G and rising convergence across its customer base.
In the fourth quarter, AT&T posted revenues of $33.5 billion and free cash flow of $4.2 billion, up from $4.0 billion a year earlier. Adjusted EPS rose to $0.52 from $0.43, supported by solid operating performance and continued customer momentum. The company added 421,000 postpaid phone subscribers, kept churn below 1%, and delivered more than half a million combined advanced home internet net additions for the second consecutive quarter, led by strong AT&T Fiber growth.
For the full year, revenues reached $125.6 billion, diluted EPS increased to $3.04, and free cash flow rose to $16.6 billion. AT&T added more than 1.5 million postpaid phone customers for the fifth straight year, surpassed one million fiber net adds for the eighth consecutive year, and expanded fiber availability to 32 million consumer and business locations. Consumer wireline fiber revenues grew 17% year over year, highlighting the success of the company’s convergence strategy.
AT&T returned more than $12 billion to shareholders in 2025 through dividends and share repurchases and now expects to return over $45 billion between 2026 and 2028. Management reaffirmed a long-term outlook for improved growth in adjusted EBITDA and adjusted EPS, alongside higher free cash flow through 2028, driven by continued investment in fiber and 5G and rising convergence across its customer base.