Logo

T

AT&T Inc.

T

AT&T Inc. • NYSE
$26.02 ▲ 0.77% (+0.20)
Market Cap $184.47 B
52w High $29.79
52w Low $21.38
Dividend Yield 1.11%
P/E 8.48
Volume 15.97M
Outstanding Shares 7.09B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $30.709B ▼ $7.454B ▲ $9.314B ▲ 30.33% ▲ $1.3 ▲ $17.67B ▲
Q2-2025 $30.847B ▲ $6.896B ▼ $4.5B ▲ 14.588% ▲ $0.62 ▲ $13.015B ▲
Q1-2025 $30.626B ▼ $7.07B ▼ $4.351B ▲ 14.207% ▲ $0.61 ▲ $12.791B ▲
Q4-2024 $32.298B ▲ $7.38B ▲ $4.08B ▲ 12.632% ▲ $0.56 ▲ $12.34B ▲
Q3-2024 $30.213B $6.919B $-174M -0.576% $-0.031 $8.177B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $20.272B ▲ $423.213B ▲ $294.474B ▲ $110.708B ▲
Q2-2025 $10.499B ▲ $405.491B ▲ $282.114B ▲ $105.272B ▲
Q1-2025 $6.885B ▲ $397.467B ▲ $275.628B ▲ $103.744B ▼
Q4-2024 $3.298B ▲ $394.795B ▲ $274.57B ▼ $104.372B ▲
Q3-2024 $2.586B $393.719B $275.459B $102.351B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $9.314B ▲ $10.152B ▲ $-3.389B ▲ $2.989B ▲ $9.772B ▲ $5.265B ▲
Q2-2025 $4.861B ▲ $9.763B ▲ $-6.086B ▼ $-45M ▲ $3.632B ▲ $4.866B ▲
Q1-2025 $4.692B ▲ $9.049B ▼ $-4.958B ▲ $-553M ▲ $3.538B ▲ $4.772B ▼
Q4-2024 $4.408B ▲ $11.896B ▲ $-5.363B ▼ $-5.853B ▼ $680M ▲ $5.053B ▲
Q3-2024 $145M $10.235B $-5.15B $-5.562B $-477M $4.933B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
IP Broadband
IP Broadband
 $2.84Bn ▲$2.91Bn ▲$920.00M ▼$890.00M ▼
Legacy Voice and Data
Legacy Voice and Data
 $370.00M ▲$360.00M ▼$2.81Bn ▲$2.66Bn ▼
Other Service
Other Service
 $320.00M ▲$310.00M ▼$300.00M ▼$300.00M ▲
Wireless Service
Wireless Service
 $17.18Bn ▲$17.20Bn ▲$17.27Bn ▲$17.52Bn ▲
Business Solutions
Business Solutions
 $4.42Bn ▲$4.38Bn ▼$0 ▼$0 ▲
Product
Product
 $5.08Bn ▲$7.14Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement AT&T’s revenue has stepped down from earlier years after shedding media assets and is now relatively stable, reflecting a more focused core telecom business rather than a growth story. Profitability at the operating level looks solid for a mature utility‑like company, but bottom‑line earnings have been choppy, with past years affected by write‑downs, restructuring, and one‑off items. The recent pattern shows the company firmly back in the black, though not with fast earnings growth. Overall, this is a large, steady cash-generating business with moderate profit margins and a history of accounting noise that can make year‑to‑year comparisons tricky.

Balance Sheet

Balance Sheet The balance sheet shows a smaller, more streamlined company than a few years ago, with total assets reduced after divestitures and simplification. Debt has come down meaningfully from earlier peak levels, although leverage is still high for a typical company and remains a key risk to monitor. Shareholders’ equity has stabilized in recent years after prior hits from asset sales and impairments, suggesting less balance‑sheet turbulence than in the past. Cash on hand is relatively modest, so the company depends heavily on ongoing cash generation and access to capital markets to maintain flexibility.

Cash Flow

Cash Flow Cash flow is one of AT&T’s main strengths. The business consistently generates strong cash from operations, thanks to its large recurring customer base. Capital spending on 5G and fiber has been heavy, but even after these investments, free cash flow has remained solid and has improved from the low point a few years ago. This pattern indicates that the company can both invest in its network and still have room to reduce debt and cover other obligations, as long as operations remain stable and capital intensity does not spike further.

Competitive Edge

Competitive Edge AT&T sits among the top tier of U.S. telecom operators, with a nationwide wireless network, a growing fiber footprint, and deep relationships with enterprises and government. Its scale, brand, and long‑lived infrastructure create high barriers to entry, and the exclusive FirstNet public‑safety network provides a distinctive niche advantage. However, competition from Verizon, T‑Mobile, cable providers, and alternative broadband options is intense, often pushing the industry toward price competition and high marketing and retention costs. The company’s moat is real but not unassailable, relying on continuous network investment and service quality to defend market share.

Innovation and R&D

Innovation and R&D AT&T’s innovation efforts are tightly tied to its network: software‑defined networking, AI‑driven automation, and aggressive 5G and fiber build‑outs are at the core of its technology strategy. The company is active in early research for 6G, quantum networking, and Open RAN, aiming to lower long‑term costs, increase flexibility, and stay ahead of future connectivity standards. Its work in IoT, connected cars, edge computing, and specialized platforms like FirstNet shows a focus on higher‑value use cases beyond basic mobile and broadband access. Overall, AT&T appears more evolutionary than flashy in R&D—prioritizing practical network improvements and enterprise solutions over consumer gadgets—yet it is clearly intent on remaining at the front of telecom technology.

Summary

AT&T today resembles a mature, infrastructure‑heavy telecom utility: slower growth, but large, recurring revenue and strong cash generation. The company has reshaped itself over the last few years, exiting non‑core media assets, trimming debt, and stabilizing its balance sheet, though leverage and capital intensity remain key risk factors. Its competitive position is underpinned by nationwide scale, a significant fiber and wireless footprint, and unique assets like FirstNet, but it operates in a fiercely competitive, price‑sensitive market. Innovation is focused on keeping its network faster, smarter, and cheaper to run through 5G, fiber, software‑defined networking, and early bets on 6G, quantum, and Open RAN. Future performance will hinge less on dramatic growth and more on steady execution: maintaining network quality, managing debt, and turning advanced technologies into durable, higher‑margin services.

NEWS

November 26, 2025 · 9:00 AM UTC

77% of U.S. Consumers Would Complete All Holiday Shopping at Small Businesses, According to Latest AT&T Business Holiday Shopping Survey

Read more

November 20, 2025 · 10:00 AM UTC

AT&T Honored for Unwavering Commitment to Connecting Georgians to Greater Possibility

Read more

November 20, 2025 · 6:00 AM UTC

Connected at Every Turn: AT&T Powers Las Vegas Race Week During F1 Chase

Read more

November 18, 2025 · 9:00 AM UTC

AT&T and OATS from AARP Expand Work, Helping Older Adults with Technology Skills and Education

Read more

November 17, 2025 · 6:00 AM UTC

AT&T Boosts 5G Capacity Nationwide with New Spectrum, Giving Customers a Stronger, Faster Connection

Read more