AT&T delivered a fourth-quarter results beat with adjusted earnings per share of 0.52, well above consensus forecasts, and revenue growth of 3.7% year-over-year to 33.5 billion. Wireless service revenue rose 4.2%, driven by improved pricing and data usage trends, while broadband revenue increased 5.1% as fiber subscriber additions accelerated. The company generated operating cash flow of 11.4 billion for the quarter, reflecting tight cost controls and margin expansion in its converged services business.

AT&T added 421,000 net postpaid phone subscribers and 283,000 new fiber broadband connections during the quarter, marking the best consumer broadband performance in a decade. Fixed wireless 5G net additions reached 221,000, underscoring growing take-up of alternative broadband solutions. Convergence rates climbed to 42% of fiber households bundling wireless service, highlighting the success of bundled offerings and contributing to a 547% total return since the company’s 1983 IPO.

Management reiterated guidance for free cash flow to exceed 18 billion in the current year and to reach 21 billion by 2028, ahead of previous forecasts. Adjusted EBITDA is projected to grow at a mid-single-digit percentage annually, supported by ongoing fiber and 5G investments. The board approved an 8 billion share repurchase program for the coming year, complementing planned dividend distributions that yield in excess of 4.6%, as the company seeks to maintain a balanced capital allocation framework while reducing debt leverage.