AT&T Q4 Revenue $33.5B and $0.52 EPS Beat, 2026 Guidance Targets Up to 4% Growth
AT&T delivered fourth-quarter revenue of $33.5 billion and earnings of $0.52 per share, surpassing consensus estimates of $32.88 billion and $0.47, respectively. Management set 2026 targets of 1–4% revenue growth, 3–4% EBITDA expansion, $2.25–$2.35 EPS, $1.11 dividend and an $8 billion share buyback.
1. Q4 Performance
AT&T reported fourth-quarter revenue of $33.5 billion and earnings of $0.52 per share, beating consensus forecasts of $32.88 billion and $0.47, respectively. This performance outpaced consensus on both top and bottom lines.
2. Guidance and Capital Return
Management projected 1–4% revenue growth, 3–4% EBITDA expansion and EPS of $2.25–$2.35 for 2026, while committing to a $1.11 per-share dividend and $8 billion in share repurchases to support shareholder returns.
3. Analyst Reactions
Deutsche Bank raised its price target to $33, citing strong Q4 results and optimistic guidance, while Oppenheimer cut its target to $29 and TD Cowen reduced theirs to $32, reflecting mixed views on ARPU growth and churn trends.
4. Valuation Upside
With 16 of 28 analysts holding Buy ratings and a median target of $29.75—implying roughly 13.5% upside—and a high estimate of $34, the consensus outlook signals near-term appreciation potential.