AT&T is expected to report Q3 2026 revenue of $31.69 billion and earnings of $0.61 per share, while its current price of $23.44 remains well below the average analyst price target of $29.00. Investors are primarily focused on the performance of "Advanced Connectivity" services, specifically the company's ability to maintain momentum in wireless postpaid phone additions and the integration of Lumen fiber assets.
Management’s convergence strategy, which bundles fiber and wireless services, is seen as a critical lever for reducing churn and increasing average revenue per user (ARPU) in a highly competitive sector. Additionally, the market will scrutinize quarterly free cash flow to ensure AT&T remains on track to meet its ambitious full-year target of more than $18 billion.