• AT&T reported strong third quarter results for the period ended September 30, 2025, highlighted by 405,000 new postpaid phone subscribers and the company’s largest net increase in fiber and Internet Air broadband subscribers in more than eight years, while also reaffirming its service revenue growth guidance.

  • The company launched a major marketing campaign focused on network reliability and coverage, directly challenging competitor claims and further supported by ongoing expansion in fiber and fixed wireless services.

  • We’ll examine how AT&T’s broadband growth and network-focused marketing could influence its investment narrative going forward.

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To be an AT&T shareholder today, you need to believe that investments in 5G and fiber will drive recurring revenue and support margin stability amid heightened industry competition and secular wireline declines. The recent buyback and robust Q3 results are positives, but do not fundamentally alter the short-term catalyst: continued subscriber growth in core wireless and fiber businesses. The biggest risk remains pressure from rivals and potential customer churn, which could increasingly affect earnings power if competition intensifies further.

Among recent news, AT&T’s third quarter buyback, repurchasing nearly 53 million shares for US$1.5 billion, stands out, signaling confidence in its long-term value and supporting its capital return strategy. While buybacks can enhance per-share metrics in the near term, their broader impact depends on business performance and success at offsetting competitive market headwinds. The effectiveness here will ultimately tie back to AT&T’s ongoing ability to defend margins and retain customers.

By contrast, investors should also be aware that if incremental returns from fiber expansion in harder-to-reach markets diminish faster than expected, …

Read the full narrative on AT&T (it’s free!)

AT&T’s outlook anticipates $130.6 billion in revenue and $17.0 billion in earnings by 2028. This entails a 1.7% annual revenue growth and an increase in earnings of $4.3 billion from the current $12.7 billion.

Uncover how AT&T’s forecasts yield a $30.99 fair value, a 26% upside to its current price.

T Community Fair Values as at Oct 2025 T Community Fair Values as at Oct 2025

While the baseline view highlights stable growth, the most optimistic analysts expect annual revenue to reach US$130.2 billion with earnings of US$17.6 billion by 2028. That outlook banks on accelerated 5G and fiber adoption, suggesting that the recent buyback could be seen as an early step toward even higher shareholder returns. These differences show just how varied opinions can be, especially as fresh results keep changing the story.

Explore 14 other fair value estimates on AT&T – why the stock might be worth over 2x more than the current price!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include T.

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