- AT&T plans to buy back billions of dollars in shares, starting with about $8 billion in 2026.
- In Q4, the company reported $33.5 billion in revenue and an earnings per share (EPS) of $0.53.
- The company expects low single-digit growth in service revenue annually from 2026 to 2028.
AT&T Inc. (T) announced on Wednesday that it plans to give back more than $45 billion to shareholders between 2026 and 2028 through dividends and stock buybacks.
The move comes after the company reported strong fourth-quarter (Q4) earnings driven by growth in its 5G and fiber broadband businesses as more customers embraced bundled connectivity.
Shareholder Returns Plan
AT&T expects to keep its yearly dividend at $1.11 per share and plans to buy back billions of dollars in shares, starting with about $8 billion in 2026.
In Q4, the company reported $33.5 billion in revenue and an earnings per share (EPS) of $0.53. Both the figures exceeded the analysts’ consensus estimate of $32.91 billion and $0.47, respectively, according to Fiscal AI data.
The company highlighted notable increases in subscriber numbers and overall service adoption. The firm added 421,000 postpaid phone subscribers and nearly half a million advanced home internet additions through its fiber and Internet Air products.
Following the earnings, AT&T stock traded over 3% higher in Wednesday’s premarket. On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ from ‘neutral’ territory amid ‘high’ message volume levels.
Strategic Outlook
AT&T outlined ambitious plans for 2026-28, including further expansion of its 5G and fiber footprint. The company expects low single-digit growth in service revenue annually and adjusted EPS of $2.25 to $2.35 in 2026 with a double-digit 3-year CAGR through 2028.
"With new investments in spectrum and fiber, we're set to win more customers in more categories and geographies across the U.S.”
-John Stankey, Chairman and CEO, AT&T
The company expects capital expenditure in the range of the $23 billion to $24 billion annually during 2026-2028.
AT&T stock has declined by over 5% in the last 12 months.
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