AT&T raises 2026 outlook. Goldman cuts target for AT&T stock

Published on 10/23/2026 at 10:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AT&T reported USD 32.3 billion in third-quarter revenue. AT&T stock costs EUR 19.59 on October 23, 2026 at Lang & Schwarz.

Results outlook and valuation

AT&T reported USD 32.3 billion in third-quarter revenue on October 21, 2026.
AT&T raised its 2026 adjusted earnings per share outlook to USD 2.40 on October 21, 2026.
AT&T stock traded at EUR 19.59 at 10:31 a.m. CEST at Lang & Schwarz on October 23, 2026.

CGI-Render eines modernen Konzernhochhauses mit Glasfassade, Gitterstruktur und Eingangsplatz — AT&T Inc. modernes Konzernhochhaus mit Glasfassade als Architektur-Render der Aktie US00206R1023 Telekommunikation, Illustration mit AI erstellt.

AT&T Inc. (ISIN US00206R1023) reported USD 32.3 billion in third-quarter revenue on October 21, 2026, while raising its 2026 adjusted earnings per share outlook to USD 2.40. The figures came with stronger connectivity growth, but a Goldman Sachs target cut kept a second issue in view.

Revenue growth meets higher costs

According to AT&T, third-quarter revenue rose 5.3 percent from USD 30.7 billion in the year-ago quarter. Adjusted earnings per share increased to USD 0.65 from USD 0.54, while reported diluted earnings per share were USD 0.13 after a USD 2.6 billion non-cash impairment charge tied to the Mexico wireless business.

The operating picture was strongest in Advanced Connectivity. Service revenue in that segment grew 6.1 percent year over year, and internet net adds reached 769,000 in the third quarter, including 442,000 fiber additions and 327,000 fixed-wireless additions. AT&T also reported 379,000 postpaid phone net adds.

What does the outlook mean for margins?

AT&T expects adjusted earnings per share of USD 2.40 in 2026, compared with its previous outlook of USD 2.25 to USD 2.35. The company also reported adjusted EBITDA of USD 12.5 billion for the third quarter, up 5.4 percent year over year, and free cash flow of USD 5.0 billion.

The counterweight is leverage and wireless competition. Total debt stood at USD 159.6 billion at September 30, 2026, while net debt was USD 149.8 billion. Markets Insider reported on October 21, 2026 that Goldman Sachs lowered its target from USD 30.00 to USD 27.00 and retained a Buy rating, citing customer acquisition costs and weaker postpaid phone additions as risks.

Dividend payment date is November 2

The next substantiated company date is November 2, 2026, when AT&T is scheduled to pay its common-share dividend and its Series A and Series C preferred dividends, according to AT&T.

Stock price reflects a divided picture

AT&T stock was trading at EUR 19.59 at Lang & Schwarz on October 23, 2026 at 10:31 a.m. CEST. The quote puts the market focus on whether higher service revenue and the revised earnings outlook can offset debt and competitive pressure.

The further course of trading is shown by the continuously updated real-time quote of AT&T stock.