| AT&T Inc. | ||||||||||||||||||||
| Financial Data | ||||||||||||||||||||
| Consolidated Statements of Income | ||||||||||||||||||||
| Dollars in millions except per share amounts | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Operating Revenues | ||||||||||||||||||||
| Service | $ | 26,301 | $ | 25,336 | 3.8 | % | $ | 77,756 | $ | 75,766 | 2.6 | % | ||||||||
| Equipment | 6,021 | 5,373 | 12.1 | % | 17,630 | 16,416 | 7.4 | % | ||||||||||||
| Total Operating Revenues | 32,322 | 30,709 | 5.3 | % | 95,386 | 92,182 | 3.5 | % | ||||||||||||
| Operating Expenses | ||||||||||||||||||||
| Cost of revenues | ||||||||||||||||||||
| Equipment | 6,098 | 5,468 | 11.5 | % | 18,144 | 16,900 | 7.4 | % | ||||||||||||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 6,344 | 6,351 | (0.1) | % | 18,911 | 19,102 | (1.0) | % | ||||||||||||
| Selling, general and administrative | 7,435 | 7,454 | (0.3) | % | 21,972 | 21,544 | 2.0 | % | ||||||||||||
| Asset impairments and abandonments and restructuring | 3,372 | — | — | % | 3,658 | 504 | — | % | ||||||||||||
| Depreciation and amortization | 4,978 | 5,317 | (6.4) | % | 14,910 | 15,758 | (5.4) | % | ||||||||||||
| Total Operating Expenses | 28,227 | 24,590 | 14.8 | % | 77,595 | 73,808 | 5.1 | % | ||||||||||||
| Operating Income | 4,095 | 6,119 | (33.1) | % | 17,791 | 18,374 | (3.2) | % | ||||||||||||
| Interest Expense | 1,979 | 1,700 | 16.4 | % | 5,675 | 5,013 | 13.2 | % | ||||||||||||
| Equity in Net Income (Loss) of Affiliates | (10) | (20) | 50.0 | % | (80) | 1,905 | — | % | ||||||||||||
| Other Income (Expense) — Net | 590 | 6,254 | (90.6) | % | 1,880 | 7,476 | (74.9) | % | ||||||||||||
Income from Continuing Operations Before Income Taxes | 2,696 | 10,653 | (74.7) | % | 13,916 | 22,742 | (38.8) | % | ||||||||||||
| Income tax expense on continuing operations | 1,390 | 976 | 42.4 | % | 3,353 | 3,512 | (4.5) | % | ||||||||||||
| Income From Continuing Operations | 1,306 | 9,677 | (86.5) | % | 10,563 | 19,230 | (45.1) | % | ||||||||||||
| Loss from discontinued operations, net of tax | (37) | — | — | % | (103) | — | — | % | ||||||||||||
| Net Income | 1,269 | 9,677 | (86.9) | % | 10,460 | 19,230 | (45.6) | % | ||||||||||||
| Net Income Attributable to Noncontrolling Interest | (378) | (363) | (4.1) | % | (1,113) | (1,065) | (4.5) | % | ||||||||||||
| Net Income Attributable to AT&T | $ | 891 | $ | 9,314 | (90.4) | % | $ | 9,347 | $ | 18,165 | (48.5) | % | ||||||||
| Preferred Stock Dividends and Redemption Gain | (36) | (36) | — | % | (108) | (28) | — | % | ||||||||||||
| Net Income Attributable to Common Stock | $ | 855 | $ | 9,278 | (90.8) | % | $ | 9,239 | $ | 18,137 | (49.1) | % | ||||||||
Basic Earnings Per Share Attributable to Common Stock | ||||||||||||||||||||
| Income from continuing operations | $ | 0.13 | $ | 1.29 | (89.9) | % | $ | 1.34 | $ | 2.51 | (46.6) | % | ||||||||
| Loss from discontinued operations | (0.01) | — | — | % | (0.01) | — | — | % | ||||||||||||
| $ | 0.12 | $ | 1.29 | (90.7) | % | $ | 1.33 | $ | 2.51 | (47.0) | % | |||||||||
Weighted Average Common Shares Outstanding (000,000) | 6,835 | 7,156 | (4.5) | % | 6,929 | 7,193 | (3.7) | % | ||||||||||||
Diluted Earnings Per Share Attributable to Common Stock | ||||||||||||||||||||
| Income from continuing operations | $ | 0.13 | $ | 1.29 | (89.9) | % | $ | 1.34 | $ | 2.51 | (46.6) | % | ||||||||
| Loss from discontinued operations | (0.01) | — | — | % | (0.01) | — | — | % | ||||||||||||
| $ | 0.12 | $ | 1.29 | (90.7) | % | $ | 1.33 | $ | 2.51 | (47.0) | % | |||||||||
Weighted Average Common Shares Outstanding with Dilution (000,000) | 6,844 | 7,169 | (4.5) | % | 6,938 | 7,203 | (3.7) | % | ||||||||||||
| AT&T Inc. | |||||||||||
| Financial Data | |||||||||||
| Consolidated Balance Sheets | |||||||||||
| Dollars in millions | |||||||||||
| Sep. 30, | Dec. 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Assets | (Unaudited) | ||||||||||
| Current Assets | |||||||||||
| Cash and cash equivalents | $ | 10,767 | $ | 18,234 | |||||||
| Accounts receivable – net of related allowances for credit loss of $272 and $429 | 7,992 | 8,843 | |||||||||
| Inventories | 2,893 | 2,420 | |||||||||
| Prepaid and other current assets | 19,477 | 19,235 | |||||||||
| Assets held for sale | 11,216 | — | |||||||||
| Total current assets | 52,345 | 48,732 | |||||||||
| Property, Plant and Equipment – Net | 132,154 | 131,559 | |||||||||
| Goodwill – Net | 63,865 | 63,425 | |||||||||
| Licenses – Net | 149,357 | 128,148 | |||||||||
| Other Intangible Assets – Net | 5,987 | 5,254 | |||||||||
| Investments in and Advances to Equity Affiliates | 1,173 | 1,106 | |||||||||
| Operating Lease Right-Of-Use Assets | 22,352 | 22,642 | |||||||||
| Other Assets | 18,638 | 19,332 | |||||||||
| Total Assets | $ | 445,871 | $ | 420,198 | |||||||
| Liabilities and Stockholders’ Equity | |||||||||||
| Current Liabilities | |||||||||||
| Debt maturing within one year | $ | 9,483 | $ | 9,011 | |||||||
| Accounts payable and accrued liabilities | 38,335 | 38,514 | |||||||||
| Advanced billings and customer deposits | 3,909 | 4,266 | |||||||||
| Dividends payable | 1,912 | 1,989 | |||||||||
| Liabilities held for sale | 6,636 | — | |||||||||
| Total current liabilities | 60,275 | 53,780 | |||||||||
| Long-Term Debt | 150,144 | 127,089 | |||||||||
| Deferred Credits and Other Noncurrent Liabilities | |||||||||||
| Noncurrent deferred tax liabilities | 61,551 | 58,312 | |||||||||
| Postemployment benefit obligation | 8,100 | 8,478 | |||||||||
| Operating lease liabilities | 18,520 | 18,943 | |||||||||
| Other noncurrent liabilities | 22,521 | 25,104 | |||||||||
| Total deferred credits and other noncurrent liabilities | 110,692 | 110,837 | |||||||||
| Redeemable Noncontrolling Interest | 2,006 | 2,001 | |||||||||
| Stockholders’ Equity | |||||||||||
| Preferred stock | — | — | |||||||||
| Common stock | 7,621 | 7,621 | |||||||||
| Additional paid-in capital | 106,239 | 106,533 | |||||||||
| Retained earnings | 19,265 | 15,768 | |||||||||
| Treasury stock | (25,268) | (18,529) | |||||||||
| Accumulated other comprehensive income (loss) | (1,082) | (860) | |||||||||
| Noncontrolling interest | 15,979 | 15,958 | |||||||||
| Total stockholders’ equity | 122,754 | 126,491 | |||||||||
| Total Liabilities and Stockholders’ Equity | $ | 445,871 | $ | 420,198 | |||||||
| AT&T Inc. | |||||||||||
| Financial Data | |||||||||||
| Consolidated Statements of Cash Flows | |||||||||||
| Dollars in millions | |||||||||||
| Unaudited | Nine-Month Period | ||||||||||
| 2026 | 2025 | ||||||||||
| Operating Activities | |||||||||||
| Income from continuing operations | $ | 10,563 | $ | 19,230 | |||||||
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations: | |||||||||||
| Depreciation and amortization | 14,910 | 15,758 | |||||||||
| Provision for uncollectible accounts | 1,817 | 1,592 | |||||||||
| Asset impairments and abandonments and restructuring | 3,658 | 504 | |||||||||
| Pension and postretirement benefit expense (credit) | (1,187) | (1,191) | |||||||||
| Net (gain) loss on investments | (277) | (5,722) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Receivables | (903) | (613) | |||||||||
| Equipment installment receivables and related sales | (1,016) | 806 | |||||||||
| Contract asset and cost deferral | (617) | (482) | |||||||||
| Inventories, prepaid and other current assets | (823) | (1,952) | |||||||||
| Accounts payable and other accrued liabilities | (1,253) | (2,029) | |||||||||
| Changes in income taxes | 3,209 | 2,609 | |||||||||
| Postretirement claims and contributions | (364) | (593) | |||||||||
| Other - net | 1,198 | 1,047 | |||||||||
| Total adjustments | 18,352 | 9,734 | |||||||||
| Net Cash Provided by Operating Activities from Continuing Operations | 28,915 | 28,964 | |||||||||
| Investing Activities | |||||||||||
| Capital expenditures | (15,638) | (14,061) | |||||||||
| Acquisitions, net of cash acquired | (25,677) | (47) | |||||||||
| Dispositions | 858 | 439 | |||||||||
| (Purchases), sales and settlements of securities - net | (1) | 25 | |||||||||
| Other - net | (1,062) | (789) | |||||||||
| Net Cash Used in Investing Activities from Continuing Operations | (41,520) | (14,433) | |||||||||
| Financing Activities | |||||||||||
| Issuance of other short-term borrowings | 3,000 | — | |||||||||
| Repayment of other short-term borrowings | (3,000) | — | |||||||||
| Issuance of long-term debt | 35,870 | 14,027 | |||||||||
| Repayment of long-term debt | (10,172) | (1,849) | |||||||||
| Payment of vendor financing | (1,148) | (823) | |||||||||
| Redemption of preferred stock | — | (2,075) | |||||||||
| Purchase of treasury stock | (7,472) | (2,669) | |||||||||
| Issuance of treasury stock | 1 | 19 | |||||||||
| Issuance of preferred interests in subsidiary | — | 2,221 | |||||||||
| Dividends paid | (5,923) | (6,168) | |||||||||
| Other - net | (1,487) | (292) | |||||||||
| Net Cash Provided by Financing Activities from Continuing Operations | 9,669 | 2,391 | |||||||||
| Net increase (decrease) in cash and cash equivalents and restricted cash from continuing operations | (2,936) | 16,922 | |||||||||
| Cash flows from Discontinued Operations: | |||||||||||
| Cash provided by operating activities | 197 | — | |||||||||
| Cash used in investing activities | (4,607) | — | |||||||||
| Cash used in financing activities | — | — | |||||||||
| Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | (4,410) | — | |||||||||
| Net increase (decrease) in cash and cash equivalents and restricted cash | $ | (7,346) | $ | 16,922 | |||||||
| Cash and cash equivalents and restricted cash beginning of year | 18,527 | 3,406 | |||||||||
| Cash and Cash Equivalents and Restricted Cash End of Period | $ | 11,181 | $ | 20,328 | |||||||
| AT&T Inc. | ||||||||||||||||||||
| Consolidated Supplementary Data | ||||||||||||||||||||
| Supplementary Financial Data | ||||||||||||||||||||
| Dollars in millions except per share amounts | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Capital expenditures | ||||||||||||||||||||
| Purchase of property and equipment | $ | 5,010 | $ | 4,843 | 3.4 | % | $ | 15,496 | $ | 13,940 | 11.2 | % | ||||||||
| Interest during construction | 51 | 44 | 15.9 | % | 142 | 121 | 17.4 | % | ||||||||||||
| Total Capital Expenditures | $ | 5,061 | $ | 4,887 | 3.6 | % | $ | 15,638 | $ | 14,061 | 11.2 | % | ||||||||
| Acquisitions, net of cash acquired | ||||||||||||||||||||
| Business acquisitions | $ | 11 | $ | — | — | % | $ | 1,702 | $ | — | — | % | ||||||||
| Spectrum acquisitions | 22,842 | (13) | — | % | 23,876 | 1 | — | % | ||||||||||||
| Interest during construction - spectrum | 99 | 12 | — | % | 99 | 46 | — | % | ||||||||||||
| Total Acquisitions | $ | 22,952 | $ | (1) | — | % | $ | 25,677 | $ | 47 | — | % | ||||||||
| Cash paid for interest | $ | 1,990 | $ | 1,855 | 7.3 | % | $ | 5,724 | $ | 5,171 | 10.7 | % | ||||||||
| Cash paid for income taxes, net of (refunds) | $ | 21 | $ | 17 | 23.5 | % | $ | 112 | $ | 897 | (87.5) | % | ||||||||
| Dividends Declared per Common Share | $ | 0.2775 | $ | 0.2775 | — | % | $ | 0.8325 | $ | 0.8325 | — | % | ||||||||
| End of Period Common Shares Outstanding (000,000) | 6,761 | 7,109 | (4.9) | % | ||||||||||||||||
| Debt Ratio | 56.1 | % | 52.0 | % | 410 | BP | ||||||||||||||
| Total Employees | 127,150 | 135,670 | (6.3) | % | ||||||||||||||||
| Segment Results | ||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 17,764 | $ | 16,926 | 5.0 | % | $ | 52,118 | $ | 50,430 | 3.3 | % | ||||||||
Advanced home internet | 2,975 | 2,411 | 23.4 | % | 8,700 | 6,908 | 25.9 | % | ||||||||||||
Business fiber and advanced connectivity | 1,992 | 1,832 | 8.7 | % | 5,820 | 5,356 | 8.7 | % | ||||||||||||
Business transitional and other | 1,023 | 1,198 | (14.6) | % | 3,148 | 3,741 | (15.9) | % | ||||||||||||
Other service | 148 | 162 | (8.6) | % | 457 | 488 | (6.4) | % | ||||||||||||
Total Service Revenues | 23,902 | 22,529 | 6.1 | % | 70,243 | 66,923 | 5.0 | % | ||||||||||||
| Equipment | 5,579 | 4,974 | 12.2 | % | 16,324 | 15,269 | 6.9 | % | ||||||||||||
| Total Segment Operating Revenues | 29,481 | 27,503 | 7.2 | % | 86,567 | 82,192 | 5.3 | % | ||||||||||||
| Operating Expenses | ||||||||||||||||||||
| Operations and support | 17,151 | 16,010 | 7.1 | % | 50,647 | 48,613 | 4.2 | % | ||||||||||||
| Depreciation and amortization | 4,702 | 5,076 | (7.4) | % | 14,094 | 15,084 | (6.6) | % | ||||||||||||
| Total Segment Operating Expenses | 21,853 | 21,086 | 3.6 | % | 64,741 | 63,697 | 1.6 | % | ||||||||||||
| Operating Income | $ | 7,628 | $ | 6,417 | 18.9 | % | $ | 21,826 | $ | 18,495 | 18.0 | % | ||||||||
| Operating Income Margin | 25.9 | % | 23.3 | % | 260 BP | 25.2 | % | 22.5 | % | 270 BP | ||||||||||
| Supplementary Operating Data | ||||||||||||||||||||
| Subscribers and connections in thousands | ||||||||||||||||||||
| Unaudited | September 30, | Percent | ||||||||||||||||||
| 2026 | 2025 | Change | ||||||||||||||||||
Retail Wireless Subscribers1 | 110,237 | 108,799 | 1.3 | % | ||||||||||||||||
Phone | 91,736 | 90,755 | 1.1 | % | ||||||||||||||||
Postpaid phone | 75,283 | 73,801 | 2.0 | % | ||||||||||||||||
Prepaid phone | 16,453 | 16,954 | (3.0) | % | ||||||||||||||||
Other | 18,501 | 18,044 | 2.5 | % | ||||||||||||||||
| Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
Retail Wireless Net Adds1, 2 | 537 | 161 | — | % | 1,244 | 744 | 67.2 | % | ||||||||||||
| Phone | 358 | 322 | 11.2 | % | 1,016 | 993 | 2.3 | % | ||||||||||||
| Postpaid phone | 379 | 405 | (6.4) | % | 1,105 | 1,130 | (2.2) | % | ||||||||||||
| Prepaid phone | (21) | (83) | 74.7 | % | (89) | (137) | 35.0 | % | ||||||||||||
| Other | 179 | (161) | — | % | 228 | (249) | — | % | ||||||||||||
Phone churn3 | 1.19 | % | 1.24 | % | (5) | BP | 1.17 | % | 1.18 | % | (1) | BP | ||||||||
Postpaid phone churn3 | 0.92 | % | 0.92 | % | — | BP | 0.89 | % | 0.87 | % | 2 | BP | ||||||||
Prepaid phone churn3 | 2.41 | % | 2.63 | % | (22) | BP | 2.44 | % | 2.53 | % | (9) | BP | ||||||||
1Wireless subscribers and net additions exclude customers with free lines provided under promotional pricing until such lines are converted to paying lines. | ||||||||||||||||||||
2Excludes migrations between wireless subscriber categories, including connected devices, and acquisition-related activity. | ||||||||||||||||||||
3Calculated by dividing the aggregate number of wireless subscribers who canceled service during a month by the total number of wireless subscribers at the beginning of that month. The churn rate for the period is equal to the average of the churn rate for each month of that period. | ||||||||||||||||||||
| September 30, | Percent | |||||||||||||||||||
| 2026 | 2025 | Change | ||||||||||||||||||
Internet Connections | 16,248 | 12,565 | 29.3 | % | ||||||||||||||||
Fiber | 13,310 | 10,789 | 23.4 | % | ||||||||||||||||
AT&T Fiber | 12,560 | 10,123 | 24.1 | % | ||||||||||||||||
AT&T Business Fiber1 | 750 | 666 | 12.6 | % | ||||||||||||||||
Fixed Wireless | 2,938 | 1,776 | 65.4 | % | ||||||||||||||||
AT&T Internet Air (AIA) | 2,231 | 1,276 | 74.8 | % | ||||||||||||||||
Business Fixed Wireless2 | 707 | 500 | 41.4 | % | ||||||||||||||||
| Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
Internet Net Adds3 | 769 | 613 | 25.4 | % | 1,999 | 1,638 | 22.0 | % | ||||||||||||
| Fiber | 442 | 309 | 43.0 | % | 1,101 | 861 | 27.9 | % | ||||||||||||
AT&T Fiber | 416 | 288 | 44.4 | % | 1,033 | 792 | 30.4 | % | ||||||||||||
AT&T Business Fiber1 | 26 | 21 | 23.8 | % | 68 | 69 | (1.4) | % | ||||||||||||
| Fixed Wireless | 327 | 304 | 7.6 | % | 898 | 777 | 15.6 | % | ||||||||||||
| AT&T Internet Air (AIA) | 280 | 270 | 3.7 | % | 734 | 654 | 12.2 | % | ||||||||||||
Business Fixed Wireless2 | 47 | 34 | 38.2 | % | 164 | 123 | 33.3 | % | ||||||||||||
1Includes fiber broadband internet for businesses and excludes dedicated and ethernet fiber. | ||||||||||||||||||||
2Includes AT&T Internet Air for Business and historical fixed wireless services. Excludes integrated gateway wireless connections used for secondary or back-up connectivity. | ||||||||||||||||||||
3Excludes acquisition-related activity and the impact of customer disconnections resulting from the termination of AIA services in areas with unfavorable regulatory requirements in the first quarter of 2025. | ||||||||||||||||||||
| Segment Results | ||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Segment Operating Revenues | $ | 1,519 | $ | 2,013 | (24.5) | % | $ | 4,919 | $ | 6,583 | (25.3) | % | ||||||||
| Segment Operating Expenses | ||||||||||||||||||||
| Operations and support | 1,021 | 1,334 | (23.5) | % | 3,286 | 3,926 | (16.3) | % | ||||||||||||
| Depreciation and amortization | — | — | — | % | — | — | — | % | ||||||||||||
| Total Operating Expenses | 1,021 | 1,334 | (23.5) | % | 3,286 | 3,926 | (16.3) | % | ||||||||||||
| Operating Income | $ | 498 | $ | 679 | (26.7) | % | $ | 1,633 | $ | 2,657 | (38.5) | % | ||||||||
| Operating Income Margin | 32.8 | % | 33.7 | % | (90) | BP | 33.2 | % | 40.4 | % | (720) | BP | ||||||||
| Segment Results | ||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Operating Revenues | ||||||||||||||||||||
| Wireless service | $ | 798 | $ | 696 | 14.7 | % | $ | 2,331 | $ | 1,973 | 18.1 | % | ||||||||
| Wireless equipment | 442 | 399 | 10.8 | % | 1,306 | 1,147 | 13.9 | % | ||||||||||||
| Total Segment Operating Revenues | 1,240 | 1,095 | 13.2 | % | 3,637 | 3,120 | 16.6 | % | ||||||||||||
| Operating Expenses | ||||||||||||||||||||
| Operations and support | 1,004 | 896 | 12.1 | % | 2,954 | 2,527 | 16.9 | % | ||||||||||||
| Depreciation and amortization | 191 | 177 | 7.9 | % | 580 | 482 | 20.3 | % | ||||||||||||
| Total Segment Operating Expenses | 1,195 | 1,073 | 11.4 | % | 3,534 | 3,009 | 17.4 | % | ||||||||||||
| Operating Income | $ | 45 | $ | 22 | — | % | $ | 103 | $ | 111 | (7.2) | % | ||||||||
| Operating Income Margin | 3.6 | % | 2.0 | % | 160 | BP | 2.8 | % | 3.6 | % | (80) | BP | ||||||||
| Supplementary Operating Data | ||||||||||||||||||||
| Subscribers and connections in thousands | ||||||||||||||||||||
| Unaudited | September 30, | Percent | ||||||||||||||||||
| 2026 | 2025 | Change | ||||||||||||||||||
| Mexico Wireless Subscribers | ||||||||||||||||||||
| Postpaid | 7,939 | 6,423 | 23.6 | % | ||||||||||||||||
| Prepaid | 15,317 | 17,508 | (12.5) | % | ||||||||||||||||
| Reseller | 77 | 218 | (64.7) | % | ||||||||||||||||
| Total Mexico Wireless Subscribers | 23,333 | 24,149 | (3.4) | % | ||||||||||||||||
| Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Mexico Wireless Net Additions | ||||||||||||||||||||
| Postpaid | 482 | 243 | 98.4 | % | 1,188 | 586 | — | % | ||||||||||||
| Prepaid | (512) | 68 | — | % | (2,413) | 22 | — | % | ||||||||||||
| Reseller | (72) | (5) | — | % | (122) | (35) | — | % | ||||||||||||
| Total Mexico Wireless Net Additions | (102) | 306 | — | % | (1,347) | 573 | — | % | ||||||||||||
| Consumer Results | ||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 15,283 | $ | 14,594 | 4.7 | % | $ | 44,859 | $ | 43,523 | 3.1 | % | ||||||||
Advanced home internet | 2,975 | 2,411 | 23.4 | % | 8,700 | 6,908 | 25.9 | % | ||||||||||||
Other service | 148 | 162 | (8.6) | % | 457 | 488 | (6.4) | % | ||||||||||||
Total Service Revenues | 18,406 | 17,167 | 7.2 | % | 54,016 | 50,919 | 6.1 | % | ||||||||||||
| Equipment | 4,642 | 4,107 | 13.0 | % | 13,513 | 12,626 | 7.0 | % | ||||||||||||
| Total Operating Revenues | 23,048 | 21,274 | 8.3 | % | 67,529 | 63,545 | 6.3 | % | ||||||||||||
| Operating Expenses | ||||||||||||||||||||
| Operations and support | 12,735 | 11,573 | 10.0 | % | 37,558 | 35,240 | 6.6 | % | ||||||||||||
| Depreciation and amortization | 2,973 | 3,069 | (3.1) | % | 8,971 | 9,136 | (1.8) | % | ||||||||||||
| Total Operating Expenses | 15,708 | 14,642 | 7.3 | % | 46,529 | 44,376 | 4.9 | % | ||||||||||||
| Operating Income | $ | 7,340 | $ | 6,632 | 10.7 | % | $ | 21,000 | $ | 19,169 | 9.6 | % | ||||||||
| Operating Income Margin | 31.8 | % | 31.2 | % | 60 | BP | 31.1 | % | 30.2 | % | 90 | BP | ||||||||
| Business Results | ||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||
| Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
| 2026 | 2025 | Change | 2026 | 2025 | Change | |||||||||||||||
| Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 2,481 | $ | 2,332 | 6.4 | % | $ | 7,259 | $ | 6,907 | 5.1 | % | ||||||||
Fiber and advanced connectivity | 1,992 | 1,832 | 8.7 | % | 5,820 | 5,356 | 8.7 | % | ||||||||||||
Transitional and other service | 1,023 | 1,198 | (14.6) | % | 3,148 | 3,741 | (15.9) | % | ||||||||||||
Total Service Revenues | 5,496 | 5,362 | 2.5 | % | 16,227 | 16,004 | 1.4 | % | ||||||||||||
| Equipment | 937 | 867 | 8.1 | % | 2,811 | 2,643 | 6.4 | % | ||||||||||||
| Total Operating Revenues | 6,433 | 6,229 | 3.3 | % | 19,038 | 18,647 | 2.1 | % | ||||||||||||
| Operating Expenses | ||||||||||||||||||||
| Operations and support | 4,416 | 4,437 | (0.5) | % | 13,089 | 13,373 | (2.1) | % | ||||||||||||
| Depreciation and amortization | 1,729 | 2,007 | (13.9) | % | 5,123 | 5,948 | (13.9) | % | ||||||||||||
| Total Operating Expenses | 6,145 | 6,444 | (4.6) | % | 18,212 | 19,321 | (5.7) | % | ||||||||||||
| Operating Income (Loss) | $ | 288 | $ | (215) | — | % | $ | 826 | $ | (674) | — | % | ||||||||
| Operating Income Margin | 4.5 | % | (3.5) | % | 800 | BP | 4.3 | % | (3.6) | % | 790 | BP | ||||||||
| Three Months Ended | ||||||||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||
| September 30, 2026 | ||||||||||||||||||||||||||
| Advanced Connectivity | Legacy | Latin America | Total Segment | Corporate & Other | AT&T Inc. | |||||||||||||||||||||
| Operating Revenues | ||||||||||||||||||||||||||
| Wireless service | $ | 17,764 | $ | — | $ | 798 | $ | 18,562 | $ | — | $ | 18,562 | ||||||||||||||
Consumer | 15,283 | |||||||||||||||||||||||||
Business | 2,481 | |||||||||||||||||||||||||
| Advanced home internet | 2,975 | — | — | 2,975 | — | 2,975 | ||||||||||||||||||||
| Business fiber and advanced connectivity | 1,992 | — | — | 1,992 | — | 1,992 | ||||||||||||||||||||
| Business transitional and other | 1,023 | — | — | 1,023 | — | 1,023 | ||||||||||||||||||||
| Other service | 148 | 1,519 | — | 1,667 | 82 | 1,749 | ||||||||||||||||||||
| Total Service | 23,902 | 1,519 | 798 | 26,219 | 82 | 26,301 | ||||||||||||||||||||
| Equipment | 5,579 | — | 442 | 6,021 | — | 6,021 | ||||||||||||||||||||
| Operating Revenues | 29,481 | 1,519 | 1,240 | 32,240 | 82 | 32,322 | ||||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
Operations and support expenses | 17,151 | 1,021 | 1,004 | 19,176 | 657 | 19,833 | ||||||||||||||||||||
| Asset impairments and abandonments and restructuring | — | — | — | — | 3,372 | 3,372 | ||||||||||||||||||||
| Transaction, legal and other costs | — | — | — | — | 44 | 44 | ||||||||||||||||||||
| Depreciation and amortization | 4,702 | — | 191 | 4,893 | 85 | 4,978 | ||||||||||||||||||||
| Operating Expenses | 21,853 | 1,021 | 1,195 | 24,069 | 4,158 | 28,227 | ||||||||||||||||||||
| Operating Income (Loss) | $ | 7,628 | $ | 498 | $ | 45 | $ | 8,171 | $ | (4,076) | $ | 4,095 | ||||||||||||||
| Total other income (expense) | (1,399) | |||||||||||||||||||||||||
| Income from continuing operations before income tax | $ | 2,696 | ||||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||
| Advanced Connectivity | Legacy | Latin America | Total Segment | Corporate & Other | AT&T Inc. | |||||||||||||||||||||
| Operating Revenues | ||||||||||||||||||||||||||
| Wireless service | $ | 16,926 | $ | — | $ | 696 | $ | 17,622 | $ | — | $ | 17,622 | ||||||||||||||
Consumer | 14,594 | |||||||||||||||||||||||||
Business | 2,332 | |||||||||||||||||||||||||
| Advanced home internet | 2,411 | — | — | 2,411 | — | 2,411 | ||||||||||||||||||||
| Business fiber and advanced connectivity | 1,832 | — | — | 1,832 | — | 1,832 | ||||||||||||||||||||
| Business transitional and other | 1,198 | — | — | 1,198 | — | 1,198 | ||||||||||||||||||||
| Other service | 162 | 2,013 | — | 2,175 | 98 | 2,273 | ||||||||||||||||||||
| Total Service | 22,529 | 2,013 | 696 | 25,238 | 98 | 25,336 | ||||||||||||||||||||
| Equipment | 4,974 | — | 399 | 5,373 | — | 5,373 | ||||||||||||||||||||
| Operating Revenues | 27,503 | 2,013 | 1,095 | 30,611 | 98 | 30,709 | ||||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
| Operations and support expenses | 16,010 | 1,334 | 896 | 18,240 | 546 | 18,786 | ||||||||||||||||||||
| Asset impairments and abandonments and restructuring | — | — | — | — | — | — | ||||||||||||||||||||
| Transaction, legal and other costs | — | — | — | — | 487 | 487 | ||||||||||||||||||||
| Depreciation and amortization | 5,076 | — | 177 | 5,253 | 64 | 5,317 | ||||||||||||||||||||
| Operating Expenses | 21,086 | 1,334 | 1,073 | 23,493 | 1,097 | 24,590 | ||||||||||||||||||||
| Operating Income (Loss) | $ | 6,417 | $ | 679 | $ | 22 | $ | 7,118 | $ | (999) | $ | 6,119 | ||||||||||||||
| Total other income (expense) | 4,534 | |||||||||||||||||||||||||
| Income from continuing operations before income tax | $ | 10,653 | ||||||||||||||||||||||||
| Nine Months Ended | ||||||||||||||||||||||||||
| Dollars in millions | ||||||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||
| September 30, 2026 | ||||||||||||||||||||||||||
| Advanced Connectivity | Legacy | Latin America | Total Segment | Corporate & Other | AT&T Inc. | |||||||||||||||||||||
| Operating Revenues | ||||||||||||||||||||||||||
| Wireless service | $ | 52,118 | $ | — | $ | 2,331 | $ | 54,449 | $ | — | $ | 54,449 | ||||||||||||||
Consumer | 44,859 | |||||||||||||||||||||||||
Business | 7,259 | |||||||||||||||||||||||||
| Advanced home internet | 8,700 | — | — | 8,700 | — | 8,700 | ||||||||||||||||||||
| Business fiber and advanced connectivity | 5,820 | — | — | 5,820 | — | 5,820 | ||||||||||||||||||||
| Business transitional and other | 3,148 | — | — | 3,148 | — | 3,148 | ||||||||||||||||||||
| Other service | 457 | 4,919 | — | 5,376 | 263 | 5,639 | ||||||||||||||||||||
| Total Service | 70,243 | 4,919 | 2,331 | 77,493 | 263 | 77,756 | ||||||||||||||||||||
| Equipment | 16,324 | — | 1,306 | 17,630 | — | 17,630 | ||||||||||||||||||||
| Operating Revenues | 86,567 | 4,919 | 3,637 | 95,123 | 263 | 95,386 | ||||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
Operations and support expenses | 50,647 | 3,286 | 2,954 | 56,887 | 1,801 | 58,688 | ||||||||||||||||||||
| Asset impairments and abandonments and restructuring | — | — | — | — | 3,658 | 3,658 | ||||||||||||||||||||
| Transaction, legal and other costs | — | — | — | — | 339 | 339 | ||||||||||||||||||||
| Depreciation and amortization | 14,094 | — | 580 | 14,674 | 236 | 14,910 | ||||||||||||||||||||
| Operating Expenses | 64,741 | 3,286 | 3,534 | 71,561 | 6,034 | 77,595 | ||||||||||||||||||||
| Operating Income (Loss) | $ | 21,826 | $ | 1,633 | $ | 103 | $ | 23,562 | $ | (5,771) | $ | 17,791 | ||||||||||||||
| Total other income (expense) | (3,875) | |||||||||||||||||||||||||
| Income from continuing operations before income tax | $ | 13,916 | ||||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||
| Advanced Connectivity | Legacy | Latin America | Total Segment | Corporate & Other | AT&T Inc. | |||||||||||||||||||||
| Operating Revenues | ||||||||||||||||||||||||||
| Wireless service | $ | 50,430 | $ | — | $ | 1,973 | $ | 52,403 | $ | — | $ | 52,403 | ||||||||||||||
Consumer | 43,523 | |||||||||||||||||||||||||
Business | 6,907 | |||||||||||||||||||||||||
| Advanced home internet | 6,908 | — | — | 6,908 | — | 6,908 | ||||||||||||||||||||
| Business fiber and advanced connectivity | 5,356 | — | — | 5,356 | — | 5,356 | ||||||||||||||||||||
| Business transitional and other | 3,741 | — | — | 3,741 | — | 3,741 | ||||||||||||||||||||
| Other service | 488 | 6,583 | — | 7,071 | 287 | 7,358 | ||||||||||||||||||||
| Total Service | 66,923 | 6,583 | 1,973 | 75,479 | 287 | 75,766 | ||||||||||||||||||||
| Equipment | 15,269 | — | 1,147 | 16,416 | — | 16,416 | ||||||||||||||||||||
| Operating Revenues | 82,192 | 6,583 | 3,120 | 91,895 | 287 | 92,182 | ||||||||||||||||||||
| Operating Expenses | ||||||||||||||||||||||||||
Operations and support expenses | 48,613 | 3,926 | 2,527 | 55,066 | 1,865 | 56,931 | ||||||||||||||||||||
| Asset impairments and abandonments and restructuring | — | — | — | — | 504 | 504 | ||||||||||||||||||||
| Transaction, legal and other costs | — | — | — | — | 615 | 615 | ||||||||||||||||||||
| Depreciation and amortization | 15,084 | — | 482 | 15,566 | 192 | 15,758 | ||||||||||||||||||||
| Operating Expenses | 63,697 | 3,926 | 3,009 | 70,632 | 3,176 | 73,808 | ||||||||||||||||||||
| Operating Income (Loss) | $ | 18,495 | $ | 2,657 | $ | 111 | $ | 21,263 | $ | (2,889) | $ | 18,374 | ||||||||||||||
| Total other income (expense) | 4,368 | |||||||||||||||||||||||||
| Income from continuing operations before income tax | $ | 22,742 | ||||||||||||||||||||||||