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Sep 30
AT&T Q3 2025 Earnings Report
AT&T reported solid third quarter results, driven by subscriber growth and strong free cash flow.
Key Takeaways
AT&T delivered strong results in Q3 2025 with solid net income, consistent revenue, and increased free cash flow, supported by growth in mobile and fiber segments.
Net income surged to $9.68 billion, significantly boosted by non-operational gains.
Adjusted EPS held steady at $0.54 despite restructuring and benefit-related items.
Fiber subscribers and postpaid phone net additions continued upward momentum.
Free cash flow reached $4.87 billion, contributing to a year-to-date total of $16.7 billion.
AT&T
AT&T
AT&T Revenue by Segment
AT&T Revenue by Geographic Location
Revenue by Segment
Mobility Revenue
CapyFin.comConsumer Wireline Revenue
CapyFin.comBusiness Wireline Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
AT&T reaffirmed its 2025 guidance, expecting continued growth in service revenue, EBITDA, and strong cash generation.
Positive Outlook
- Consolidated service revenue expected to grow in the low-single-digit range.
- Mobility service revenue growth forecasted at 3% or better.
- Consumer fiber broadband revenue to grow in the mid-to-high teens.
- Adjusted EBITDA expected to grow 3% or better.
- Free cash flow outlook in the low-to-mid $16 billion range.
Challenges Ahead
- Business Wireline revenue continues to decline, down 7.8% YoY.
- EBITDA margin in Business Wireline compressed to 27.8%.
- Fiber ARPU decreased YoY to $70.36.
- Net debt increased to $118.8 billion by quarter-end.
- Net debt-to-adjusted EBITDA ratio rose to 2.82x.