AT&T Inc

T: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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AT&T Earnings: Solid Growth Despite Uneven Customer Gains; Trimming Fair Value Estimate

Michael Hodel

Oct 21, 2026

AT&T's third-quarter service revenue growth accelerated to 3.8%, or about 3% excluding the Lumen fiber acquisition. Service revenue growth had been bounded between 0%-2% over the past three years. Net debt ticked up sharply on spectrum purchases.

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AT&T Inc

AT&T Earnings: Solid Growth Despite Uneven Customer Gains; Trimming Fair Value Estimate

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