AT&T stock carries Q2 growth into up to USD 10 billion buybacks

AT&T stock stood at USD 25.32 on the NYSE on September 23, 2026, up 0.80 percent from the previous close. In Q2 2026, total revenue increased 2.3 percent year over year, while adjusted EBITDA margin reached 39.1 percent, according to Fortune.

Q2 margin widens to 39.1 percent

The Q2 figures show a profitability improvement that outpaced revenue growth. Adjusted EBITDA rose 5.2 percent year over year, and the margin increased by 110 basis points to 39.1 percent, while adjusted EPS reached USD 0.65 from USD 0.54 a year earlier, Fortune reported.

Service revenue grew 2.7 percent in the quarter, ahead of total revenue growth. That mix matters because service revenue and adjusted EBITDA are the operating measures management has emphasized for the company's connectivity strategy.

Buybacks reach USD 10 billion

AT&T's capital return plan is the second major element of the story. The company raised its 2026 repurchase target from USD 8 billion to up to USD 10 billion, an increase of up to 25 percent, according to TIKR.

The quarterly dividend remained USD 0.28 per share through June 2026, covering eight consecutive quarters. Together, planned repurchases and expected dividend payments are projected at USD 18 billion for 2026, while Q2 free cash flow reached USD 4.7 billion, according to Fortune.

October 21 sets the next checkpoint

AT&T will release its third-quarter 2026 results before the NYSE opens on October 21, 2026, followed by a conference call at 8:30 a.m. ET, the company said in its AT&T release. The date gives investors a defined test for whether the Q2 margin gains continue into the second half.

Stock remains below yearly high

AT&T stock was trading at USD 25.32 on the NYSE on September 23, 2026. The price stood below the 52-week high of USD 29.44 and above the 52-week low of USD 19.89, with a market capitalization of USD 173,502,514,800.