AT&T stock balances record internet growth against higher debt

AT&T reported record connectivity growth for the third quarter on October 21, while the EchoStar spectrum purchase pushed debt higher. The company also lifted its 2026 adjusted earnings outlook, giving investors a stronger operating picture alongside a more leveraged balance sheet.

According to AT&T, Advanced Connectivity added 769,000 consumer and business internet connections, comprising 442,000 fiber and 327,000 fixed wireless additions. The company also gained 379,000 postpaid phone customers, while 42.8 percent of advanced home internet households also used AT&T wireless service.

Operating Momentum Meets Funding Pressure

Advanced Connectivity service revenue rose 6.1 percent year over year to USD 23.9 billion. AT&T said adjusted earnings per share reached USD 0.65 in the quarter, compared with USD 0.54 a year earlier, and raised its 2026 adjusted EPS outlook to the USD 2.40 range. The reported result included a USD 2.6 billion non-cash impairment charge tied to the planned sale of AT&T Mexico, plus employee separation charges and other adjustments.

Total debt stood at USD 159.6 billion and net debt at USD 149.8 billion at September 30. AT&T linked the sequential increase to the closing of its EchoStar spectrum transaction. Management expects net debt to adjusted EBITDA to return to a level consistent with its 2.5-times target during 2029.

What Changed Since The Last Report

AT&T stock traded at 19.20 euros on Lang & Schwarz at 4:03 p.m. CEST on Friday, October 30, 2026. The quote was 1.64 percent above the 18.89-euro price cited in the October 27 report on the same stock. Investors can follow the real-time quote of AT&T stock.

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