AT&T Inc.
Description
AT&T Inc. provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores. It also provides Virtual Private Networks, AT&T Dedicated Internet, Ethernet, data services, cloud solutions, outsourcing, and managed professional services, as well as customer premises equipment for multinational corporations, small and mid-sized businesses, governmental, and wholesale customers. In addition, this segment offers broadband services, including fiber connections, legacy telephony voice communication services, and other VoIP services and equipment to residential customers. This segment markets its communications services and products under the AT&T, AT&T Business, Cricket, AT&T PREPAID, and AT&T Fiber brand names. The Latin America segment provides postpaid and prepaid wireless services in Mexico under the AT&T and Unefon brand names, as well as sells smartphones through its owned stores, agents and third-party retail stores. The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in 2005. AT&T Inc. was incorporated in 1983 and is based in Dallas, Texas.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 26, 2026 | — | — | — | — |
| Oct 21, 2025 | — | — | — | — |
| Jul 22, 2025 | — | — | — | — |
| Apr 22, 2025 | — | — | — | — |
| Jan 27, 2025 | 0.50 | 0.54 | 0.04 | 8.00% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 17 | 16 | 25 | 22 |
| Average estimate | 0.53 | 0.55 | 2.13 | 2.24 |
| Low estimate | 0.46 | 0.49 | 2.01 | 2.04 |
| High estimate | 0.65 | 0.67 | 2.46 | 2.39 |
| Last year EPS | 0.55 | 0.57 | 2.26 | 2.13 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 28, 2025 |
RBC Capital
Jonathan Atkin
|
Maintains | Outperform | ▲ Raises $26 → $27 |
| Jan 28, 2025 |
Scotiabank
Maher Yaghi
|
Maintains | Sector Outperform | ▲ Raises $24 → $26 |
| Jan 28, 2025 |
Bernstein
Laurent Yoon
|
Maintains | Outperform | ▲ Raises $28 → $29 |
| Jan 16, 2025 |
Argus Research
Joseph Bonner
|
Upgrade | Buy | Maintains $27 |
| Jan 6, 2025 |
RBC Capital
Jonathan Atkin
|
Upgrade | Outperform | ▲ Raises $22 → $26 |
| Dec 19, 2024 |
UBS
John Hodulik
|
Maintains | Buy | ▲ Raises $25 → $30 |
| Dec 5, 2024 |
Goldman Sachs
James Schneider
|
Maintains | Buy | ▲ Raises $25 → $28 |
| Dec 4, 2024 |
Citigroup
Michael Rollins
|
Maintains | Buy | ▲ Raises $26 → $28 |
| Dec 4, 2024 |
Oppenheimer
Timothy Horan
|
Maintains | Outperform | ▲ Raises $24 → $27 |
| Dec 4, 2024 |
Barclays
Kannan Venkateshwar
|
Maintains | Overweight | ▲ Raises $24 → $27 |
| Dec 4, 2024 |
JP Morgan
Richard Choe
|
Maintains | Overweight | ▲ Raises $25 → $28 |
| Nov 27, 2024 |
Citigroup
Michael Rollins
|
Maintains | Buy | ▲ Raises $24 → $26 |
| Oct 24, 2024 |
Evercore ISI Group
Vijay Jayant
|
Maintains | In-Line | ▲ Raises $19 → $21 |
| Oct 24, 2024 |
Oppenheimer
Timothy Horan
|
Maintains | Outperform | ▲ Raises $23 → $24 |
| Oct 24, 2024 |
RBC Capital
Jonathan Atkin
|
Reiterates | Sector Perform | Maintains $22 |
| Oct 24, 2024 |
Barclays
Kannan Venkateshwar
|
Maintains | Overweight | ▲ Raises $22 → $24 |
| Oct 24, 2024 |
Wells Fargo
Eric Luebchow
|
Maintains | Overweight | ▼ Lowers $25 → $24 |
| Oct 14, 2024 |
Wells Fargo
Eric Luebchow
|
Maintains | Overweight | ▲ Raises $22 → $25 |
| Sep 27, 2024 |
Tigress Financial
Ivan Feinseth
|
Maintains | Buy | ▲ Raises $29 → $30 |
| Sep 11, 2024 |
Citigroup
Michael Rollins
|
Maintains | Buy | ▲ Raises $21 → $24 |
| Aug 15, 2024 |
MoffettNathanson
Craig Moffett
|
Maintains | Neutral | ▲ Raises $17 → $18 |
| Jul 25, 2024 |
JP Morgan
Richard Choe
|
Maintains | Overweight | ▲ Raises $21 → $24 |
| Jul 25, 2024 |
Oppenheimer
Timothy Horan
|
Maintains | Outperform | ▲ Raises $21 → $23 |
| Jul 25, 2024 |
Scotiabank
Jeff Fan
|
Maintains | Sector Outperform | ▲ Raises $23 → $24 |
| Jul 25, 2024 |
RBC Capital
Jonathan Atkin
|
Maintains | Sector Perform | ▲ Raises $18 → $19 |
| Jul 25, 2024 |
Barclays
Kannan Venkateshwar
|
Maintains | Overweight | ▲ Raises $20 → $22 |
| Jul 25, 2024 |
TD Cowen
Gregory Williams
|
Maintains | Hold | ▲ Raises $21 → $23 |
| Jul 25, 2024 |
Evercore ISI Group
Vijay Jayant
|
Maintains | In-Line | ▲ Raises $18 → $19 |
| Jul 10, 2024 |
RBC Capital
Jonathan Atkin
|
Reiterates | Sector Perform | Maintains $18 |
| Jul 10, 2024 |
Scotiabank
Maher Yaghi
|
Maintains | Sector Outperform | ▲ Raises $22.5 → $23 |
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 122.43B | 120.74B | 134.04B | 171.76B | 181.19B |
| Cost of revenue | 50.12B | 50.85B | 60.41B | 79.92B | 84.14B |
| Gross profit | 72.31B | 69.89B | 73.63B | 91.84B | 97.05B |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 28.87B | 28.96B | 29.67B | 38.04B | 39.42B |
| Other operating expenses | — | — | — | — | — |
| Operating income | 24.65B | 22.91B | 26.11B | 25.29B | 29.41B |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 6.70B | 6.11B | 6.72B | 7.93B | 8.42B |
| Other income expense | 1.90B | -19.90B | 9.78B | -20.22B | -2.52B |
| Pretax income | 19.85B | -3.09B | 29.17B | -2.86B | 18.47B |
| Tax provision | 4.23B | 3.78B | 5.40B | 965.00M | 3.49B |
| Net income | 15.62B | -7.06B | 21.48B | -3.82B | 14.98B |
| Basic EPS | 1.97 | -1.13 | 2.77 | -0.75 | 1.90 |
| Diluted EPS | 1.97 | -1.13 | 2.76 | -0.75 | 1.89 |
| Basic average shares | 7.18B | 7.17B | 7.17B | 7.16B | 7.32B |
| Diluted average shares | 7.18B | 7.17B | 7.17B | 7.16B | 7.32B |
| EBITDA | 46.52B | 48.53B | 53.95B | 52.47B | 56.57B |
| Net income from continuing op. | 15.62B | -6.87B | 23.78B | -3.82B | 14.98B |
| Minority interests | -1.22B | -1.47B | -1.40B | -1.36B | -1.07B |
| Preferred stock dividends | — | -663.00M | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 407.06B | 402.85B | 551.62B | 525.76B | 551.67B |
| Current assets | |||||
| Cash | 1.37B | 866.00M | 5.20B | 2.84B | 2.65B |
| Cash equivalents | 5.35B | 2.84B | 15.97B | 6.90B | 9.48B |
| Cash and cash equivalents | 6.72B | 3.70B | 19.22B | 9.74B | 12.13B |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 10.29B | 11.47B | 12.31B | 20.22B | 22.64B |
| Other receivables | — | — | — | — | — |
| Inventory | 2.18B | 3.12B | 3.33B | 3.70B | — |
| Prepaid assets | — | — | 17.79B | 18.36B | 1.63B |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | 119.78B | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 17.27B | 14.82B | 16.13B | 20.23B | 18.36B |
| Non current assets | |||||
| Properties | 196.39B | 188.02B | 187.82B | 191.91B | 193.52B |
| Land and improvements | 1.38B | 1.38B | 1.40B | 2.57B | 2.65B |
| Machinery furniture equipment | 118.01B | 116.11B | 113.59B | 114.46B | 118.31B |
| Construction in progress | 5.64B | 7.18B | 5.43B | 4.10B | 4.18B |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -211.40B | -202.19B | -202.96B | -200.44B | -203.41B |
| Goodwill | 268.21B | 265.24B | 304.70B | 416.83B | 450.10B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 132.50B | 129.45B | 119.22B | 146.32B | 157.62B |
| Investments and advances | 1.25B | 3.53B | 6.17B | 1.78B | 3.70B |
| Other non current assets | 19.60B | 19.61B | 19.25B | 38.37B | 35.19B |
| Total liabilities | 287.65B | 296.40B | 367.77B | 346.52B | 349.74B |
| Current liabilities | |||||
| Accounts payable | 27.31B | 31.10B | 29.51B | 31.84B | 29.64B |
| Accrued expenses | 3.89B | 3.77B | 4.52B | 8.15B | 8.48B |
| Short term debt | 9.48B | 7.60B | 25.87B | 3.47B | 11.84B |
| Deferred revenue | 3.78B | 3.92B | 3.97B | 6.18B | 6.12B |
| Tax payable | 1.02B | 798.00M | 1.15B | 1.02B | 1.21B |
| Pensions | 631.00M | 1.17B | 1.23B | 1.42B | 1.53B |
| Other current liabilities | — | 2.67B | 33.56B | — | — |
| Non current liabilities | |||||
| Long term debt | 145.42B | 147.08B | 169.97B | 175.98B | 173.11B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 58.67B | 57.03B | 53.77B | 60.47B | 59.50B |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 23.70B | 28.85B | 25.24B | 28.36B | 29.42B |
| Shareholders equity | |||||
| Common stock | 7.62B | 7.62B | 7.62B | 7.62B | 7.62B |
| Retained earnings | -5.02B | -19.42B | 42.35B | 37.46B | 57.94B |
| Other shareholders equity | 2.30B | 2.77B | 3.53B | 4.33B | 5.47B |
| Total shareholders equity | 119.42B | 106.46B | 183.86B | 179.24B | 201.93B |
| Additional paid in capital | 114.52B | 123.61B | 130.11B | 130.18B | 126.28B |
| Treasury stock | 16.13B | 17.08B | 17.28B | 17.91B | 13.09B |
| Minority interest | 16.12B | 8.96B | 17.52B | 17.57B | 17.71B |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||||
| Net Income | 15.62B | -6.87B | 23.78B | -3.82B | 14.98B | 19.95B | 29.85B | 13.33B | 13.69B | 6.74B | 18.72B | 7.54B | 4.18B | 19.40B | 12.43B | -2.36B | 12.15B | 7.36B | 4.79B | 4.98B | 8.39B | 5.54B | 7.01B | 7.80B | 8.16B | 7.69B | 4.09B | 3.48B | -3.06B | 1.65B | -845.20M | 1.30B | 1.16B | 1.10B | 1.09B |
| Depreciation | 18.78B | 18.02B | 17.85B | 28.52B | 28.22B | 28.43B | 24.39B | 25.85B | 22.02B | 18.27B | 18.40B | 18.14B | 18.38B | 19.38B | 19.52B | 19.67B | 21.58B | 9.91B | 7.64B | 7.56B | 7.87B | 8.58B | 9.08B | 9.75B | 8.55B | 7.84B | 7.78B | 4.47B | 4.03B | 2.04B | 2.01B | 1.84B | 1.77B | 1.69B | 1.89B |
| Deferred Taxes | 3.04B | 2.98B | 7.41B | 1.68B | 1.81B | 4.93B | -15.27B | 2.95B | 4.12B | 1.95B | 6.35B | 1.75B | 2.93B | -3.28B | 1.89B | -4.20B | -240.00M | -115.00M | -679.00M | 614.00M | 3.42B | 2.44B | 1.93B | 988.00M | 976.00M | 744.00M | 438.00M | 403.00M | 514.00M | -185.00M | -189.60M | -53.50M | 14.50M | 42.90M | -31.80M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 688.00M | -969.00M | -719.00M | 8.75B | 9.32B | 3.83B | -2.03B | -3.50B | 977.00M | -361.00M | -184.00M | -180.00M | 1.54B | -1.30B | -816.00M | -1.97B | 2.07B | 1.52B | 1.06B | -2.07B | -4.54B | 1.55B | -241.00M | -999.00M | -3.00B | -947.00M | -1.54B | -540.00M | 5.48B | 208.00M | 2.33B | 429.90M | -87.40M | -89.10M | -100.70M |
| Accounts Receivable | -51.00M | 881.00M | -1.40B | 787.00M | 3.36B | -2.07B | -2.23B | -2.31B | -2.99B | -5.74B | -1.33B | -1.37B | -1.16B | -101.00M | -490.00M | -1.48B | -1.49B | 519.00M | -94.00M | 282.00M | -2.12B | -530.00M | -672.00M | -1.89B | -731.00M | -2.26B | -1.28B | -1.10B | -463.00M | -303.00M | -275.50M | -284.90M | -168.40M | -180.40M | -224.50M |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -641.00M | -1.62B | -1.27B | -12.69B | -13.76B | -9.90B | -2.20B | -650.00M | -2.62B | -1.37B | 445.00M | 1.02B | -397.00M | -185.00M | -617.00M | 1.37B | 873.00M | 30.00M | 31.00M | -102.00M | -14.00M | 472.00M | -61.00M | -1.97B | 335.00M | 310.00M | -661.00M | 301.00M | 77.00M | 116.90M | -102.10M | 410.40M | 67.30M | -86.50M | -72.20M |
| Operating Cash Flow | 37.43B | 12.41B | 45.66B | 23.22B | 43.91B | 45.17B | 32.52B | 35.67B | 35.19B | 19.50B | 42.39B | 26.90B | 25.47B | 33.92B | 31.90B | 11.03B | 34.93B | 19.22B | 12.74B | 11.27B | 13.01B | 18.05B | 17.04B | 13.67B | 14.29B | 13.38B | 8.82B | 7.01B | 6.58B | 3.52B | 2.92B | 3.65B | 2.75B | 2.48B | 2.56B |
| Investing Activities | |||||||||||||||||||||||||||||||||||
| Capital Expenditures | — | — | — | -15.68B | -19.44B | -20.76B | -20.65B | -21.52B | -19.22B | -21.20B | — | — | — | 1.83B | 287.00M | — | -17.72B | -8.32B | -3.55B | 1.52B | -2.20B | -2.46B | -9.94B | -8.65B | -5.44B | -9.42B | -10.05B | -6.20B | -4.34B | -2.35B | -2.22B | -2.14B | -1.83B | -1.78B | -1.48B |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | -2.87B | -10.00B | -18.32B | 1.79B | 2.88B | -41.16B | 1.18B | -2.31B | -30.68B | 4.98B | -2.19B | -16.00M | -1.07B | -1.08B | -696.00M | -9.36B | -1.28B | 20.00M | 4.47B | -16.06B | 3.01B | 3.48B | 2.29B | -506.00M | -376.00M | -611.00M | -1.22B | -420.00M | -1.23B | -1.06B | 257.40M | -60.90M | — | — | — |
| Purchase of Investments | — | — | — | — | — | -185.00M | — | — | — | — | — | — | — | -100.00M | — | — | -579.00M | — | — | -135.00M | -1.15B | -1.00M | — | -539.00M | -26.00M | -42.00M | -916.00M | -1.01B | -704.00M | -325.00M | -419.70M | -195.00M | -126.80M | -203.30M | -56.40M |
| Sale of Investments | — | — | — | — | — | — | 449.00M | 672.00M | — | — | — | — | — | — | 55.00M | 504.00M | 455.00M | 3.00M | 99.00M | 499.00M | 248.00M | 2.00M | 510.00M | — | 31.00M | 355.00M | 1.03B | 816.00M | 587.00M | 390.00M | 315.50M | 120.40M | 259.10M | 64.20M | 82.10M |
| Investing Cash Flow | -2.95B | -10.00B | -18.31B | -13.55B | -16.49B | -62.65B | -18.04B | -22.43B | -49.89B | -16.21B | -1.90B | -17.00M | -1.04B | 683.00M | -302.00M | -8.81B | -19.08B | -8.29B | 1.06B | -14.13B | 2.94B | 1.02B | -7.13B | -9.69B | -5.81B | -9.70B | -11.14B | -6.79B | -5.67B | -3.21B | -1.81B | -2.34B | -2.36B | -2.46B | -1.51B |
| Financing Activities | |||||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 10.00B | 2.98B | 9.93B | 31.99B | 17.04B | 41.88B | 48.79B | 10.14B | 33.97B | 16.03B | 16.84B | 13.49B | 7.94B | 2.24B | 8.16B | 12.42B | 11.37B | 1.49B | 1.97B | 6.46B | — | 2.25B | 3.73B | 1.09B | 738.00M | 2.89B | 2.25B | 988.00M | 981.00M | 345.00M | 2.18B | 556.60M | — | — | — |
| Long-Term Debt Payments | -16.50B | -45.19B | -10.55B | -49.45B | -34.77B | -55.56B | -12.34B | -10.82B | -10.04B | -10.42B | -9.17B | -8.73B | -9.23B | -9.29B | -12.56B | -4.01B | -10.18B | -4.24B | -6.80B | -881.00M | -4.30B | -11.01B | -10.94B | -1.13B | -3.09B | -3.46B | -2.57B | -1.55B | -1.18B | -491.00M | -364.50M | -972.70M | — | — | — |
| Other Financing Charges | -6.19B | -10.58B | -6.83B | -7.51B | 4.15B | -3.93B | 1.95B | -1.62B | -3.82B | -2.22B | 251.00M | 89.00M | -423.00M | -516.00M | -465.00M | 151.00M | -51.00M | 218.00M | -3.00M | 5.00M | 1.00M | -56.00M | 39.00M | 65.00M | -33.00M | -762.00M | 7.00M | -103.00M | -465.00M | — | -2.19B | -355.60M | — | — | — |
| Financing Cash Flow | -20.07B | -79.64B | -5.62B | -41.49B | -32.26B | -28.91B | 25.93B | -14.46B | 9.78B | -7.75B | -14.68B | -17.67B | -13.30B | -15.85B | -18.42B | -4.69B | -19.43B | -6.13B | -15.35B | 4.61B | -10.37B | -18.53B | -13.26B | 252.00M | -6.89B | -4.46B | -3.02B | -2.82B | -1.13B | -914.00M | -1.41B | -1.88B | -883.30M | -865.60M | -780.30M |
| Other Cash Details | |||||||||||||||||||||||||||||||||||
| End Cash Position | 6.83B | 3.79B | 21.32B | 9.87B | 12.30B | 5.40B | 50.93B | 5.94B | 5.12B | 8.60B | 3.34B | 4.87B | 3.05B | 1.20B | 3.74B | 1.73B | 1.97B | 2.42B | 1.22B | 760.00M | 4.81B | 3.57B | 703.00M | 643.00M | 495.00M | 599.00M | 649.00M | 324.00M | 566.00M | 365.00M | 618.40M | 505.20M | — | — | — |
| Income Tax Paid | — | — | — | — | — | — | 2.01B | 3.72B | 1.85B | 1.53B | 1.99B | 458.00M | 32.00M | 3.54B | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | 8.82B | 6.62B | 5.70B | 4.82B | 4.10B | 4.30B | 3.71B | 3.69B | 3.88B | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 20.46B | 12.40B | 26.41B | 27.46B | 29.03B | 22.35B | 17.36B | 16.93B | 16.66B | 10.14B | 13.85B | 19.71B | 14.63B | 15.69B | 17.85B | 13.98B | 16.53B | 7.30B | 7.40B | 5.85B | 8.19B | 8.33B | 3.62B | 942.00M | 6.37B | 4.10B | 2.72B | 2.05B | 2.45B | 1.62B | 1.22B | 1.47B | 1.07B | 892.90M | 1.28B |
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