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The latest update is out from AT&T ( (T) ).
AT&T reported on April 22, 2026 that first-quarter 2026 operating revenues from continuing operations rose 2.9% year on year to $31.5 billion, driven by growth in Advanced Connectivity wireless and fiber services and supported by favorable foreign exchange in Mexico, while Legacy copper-based revenues continued to decline. Operating income increased to $6.7 billion and margins improved as depreciation on fully written-down assets and prior-year restructuring charges faded, but income from continuing operations fell to $4.2 billion, or $0.54 per diluted share, reflecting the loss of DIRECTV equity earnings and higher interest expense.
The company closed its acquisition of substantially all of Lumen Technologies’ mass markets fiber business on February 2, 2026, folding those customers and fiber assets into a new subsidiary, Forged Fiber 37 Services, LLC, which is classified as held-for-sale and treated as discontinued operations as AT&T seeks a controlling equity partner. Segment data underscore the strategic pivot: Advanced Connectivity revenues grew 4.7% on strong gains in fiber, fixed wireless and 158,000 retail wireless net adds, while Legacy revenues dropped 25.3% amid ongoing copper decommissioning and Mexico revenues climbed 20.8% but saw margin pressure from currency and higher costs.
Cash from continuing operating activities declined to $7.6 billion as the prior-year period included sizeable DIRECTV distributions, even as capital investment rose to $5.1 billion to support 5G and fiber build-out, including 584,000 net internet additions split between fiber and fixed wireless. AT&T continued to return capital to shareholders, repurchasing $2.3 billion of stock in the quarter under its 2024 buyback program, with a combined $13.5 billion remaining authorized for future repurchases after a fresh $10 billion approval in January 2026.
The most recent analyst rating on (T) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on AT&T stock, see the T Stock Forecast page.
Spark’s Take on T Stock
According to Spark, TipRanks’ AI Analyst, T is a Neutral.
The score is driven primarily by solid but constrained financial performance: strong profitability and scale are tempered by heavy leverage and uneven free-cash-flow conversion. Valuation is a clear positive (low P/E and ~4% yield). Technically, the trend is bullish but momentum is overextended (high RSI/Stoch), raising near-term pullback risk. Earnings call guidance supports a constructive multi-year outlook, though near-term integration costs and higher leverage remain key watch items.
To see Spark’s full report on T stock, click here.
More about AT&T
AT&T Inc. is a global holding company operating through subsidiaries in the telecommunications and technology industries, with a primary focus on domestic 5G wireless, fiber-based internet and advanced connectivity services for consumer and business customers, as well as operations in Mexico. Its portfolio also includes legacy copper-based voice and data services, which it is actively decommissioning to shift investment toward higher-growth fiber and wireless offerings.
Average Trading Volume: 44,636,646
Technical Sentiment Signal: Buy
Current Market Cap: $182.8B
For a thorough assessment of T stock, go to TipRanks’ Stock Analysis page.