AT&T will report second-quarter results before markets open on Wednesday, July 23, setting the stage for a close look at profits, revenue, and demand for its core wireless and fiber services. Analysts expect earnings of 53 cents per share on revenue of $30.46 billion, with investors watching for signs of steady growth and guidance for the rest of the year.
“AT&T Inc. (NYSE:T) will release earnings results for the second quarter, before the opening bell on Wednesday, July 23.”
Earnings Preview and Expectations
Wall Street forecasts point to lower earnings per share compared with last year’s 57 cents, reflecting higher network spending and promotional costs. Revenue is expected to rise from $29.8 billion a year ago, according to Benzinga Pro data, which suggests continued strength in wireless service and improvements in broadband.
“Analysts expect the Dallas-based company to report quarterly earnings at 53 cents per share, down from 57 cents per share in the year-ago period.”
“AT&T projects to report quarterly revenue of $30.46 billion. It reported $29.8 billion the previous year, according to data from Benzinga Pro.”
AT&T’s mix of monthly wireless plans and home internet continues to anchor its results. The company has focused on growing high-value subscribers while expanding fiber in key markets. Price increases on legacy plans and greater 5G utilization may support service revenue, though device promotions can weigh on margins.
Analyst Sentiment
Analysts remain constructive ahead of the print. On July 16, Morgan Stanley’s Simon Flannery kept an Overweight rating, signaling confidence in the company’s strategy and near-term cash generation.
“On July 16, Morgan Stanley analyst Simon Flannery maintained an Overweight rating for AT&T.”
Bulls point to improving free cash flow, steady postpaid phone additions, and growth in fiber subscribers. They also see reduced uncertainty after past portfolio changes. Skeptics focus on competition in wireless, ongoing capital needs for 5G and fiber, and the pressure that promotions can place on earnings.
Key Metrics To Watch
Beyond headline numbers, investors will look for clues in several operating trends that shape the outlook for the second half.
- Postpaid phone net adds and churn, a gauge of subscriber quality and loyalty.
- Service revenue growth, which reflects pricing and plan mix.
- Fiber net adds and build-out pace in new and existing markets.
- Capital expenditures and free cash flow, important for debt reduction and dividends.
- Any updates to full-year guidance.
Industry Context and Competitive Pressures
AT&T operates in a fierce wireless market where rivals compete on plan value, network performance, and device offers. Consumer demand has held up, but promotional intensity can swing quarter to quarter. The company is also pushing fiber, a capital-heavy effort that aims to capture households seeking faster, more reliable internet.
Carriers are balancing network investments with returns to shareholders. For AT&T, debt management has been a steady theme as it funds 5G and fiber build-outs. Any improvement in free cash flow can support deleveraging while keeping the dividend intact.
What The Results Could Signal
If revenue growth meets expectations and service metrics are solid, the market could view the quarter as steady progress. A miss on earnings could raise questions about promotion costs or expense control. Guidance will be key, especially if management updates targets for free cash flow and capital spending.
The company’s commentary on pricing, network performance, and customer retention will help frame the second-half narrative. Any signs of slowing churn or higher premium plan adoption would be positive. Signals of heavier competition or delayed fiber builds could weigh on sentiment.
AT&T’s second-quarter report arrives with expectations pinned to modest earnings pressure and continued revenue gains. The balance between subscriber growth, capital needs, and cash generation will define the market reaction. Investors should watch guidance, network and fiber trends, and management’s tone on competition as the next catalysts.
