AT&T reported first-quarter revenue of $31.5 billion, a 2.9% increase from the prior year, with operating income of $6.7 billion and adjusted EBITDA of $11.8 billion. Diluted EPS from continuing operations was $0.54, while adjusted EPS rose to $0.57; cash from operations reached $7.6 billion against capital expenditures of $4.9 billion, yielding free cash flow of $2.5 billion.

Advanced Connectivity service revenue grew 3.6% to $22.9 billion, with operating income up 14.8% to $6.9 billion. The convergence rate approached 45%, driven by 584,000 net internet adds—292,000 fiber and 292,000 fixed wireless—and over 37 million locations now reached with fiber, on track for over 40 million by year end.

AT&T reaffirmed full-year 2026 guidance: low-single-digit service revenue growth with 5%+ Advanced Connectivity growth, 3–4% adjusted EBITDA growth, and adjusted EPS of $2.25–$2.35. Capital investment is expected at $23–$24 billion, free cash flow above $18 billion, and more than $45 billion returned to shareholders through 2026–2028 via dividends and buybacks.