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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In the mobile phone department, we are bringing our new operating model with Verizon and AT&T to more stores.”
AT&T is named alongside Verizon in Best Buy's expanding in-store carrier operating model, which is lifting mobile phone sales.
“For example, starting last year, both Verizon and AT&T have increased their investments in store labor and have partnered with us to improve technology systems integration in hundreds of stores. As a result, we are driving increased phone sales and activations and delivered our first mobile phone comp sales growth in three years.”
Best Buy credits increased in-store labor investment and technology integration from carrier partner AT&T for helping drive its first mobile phone comparable sales growth in three years.
“The three plus 10% customers that we had in Q4, one was AT&T.”
AT&T was a 10%+ revenue customer for Ciena in Q4, underscoring strong service-provider transport demand.
“when we're selling to a carrier, like Lumen or AT&T, for example, we account for that in our carrier business.”
Corning names AT&T as an example carrier customer within its carrier network segment, confirming AT&T as an ongoing Corning fiber customer.
“AT&T's deployment of the 3.45 spectrum, specifically where they had already deployed radios and antennas that could utilize that band on a portion of their portfolio.”
Crown Castle discusses AT&T's spectrum deployment (3.45 GHz via software plus new 600 MHz radios/antennas), a read-through on AT&T's network buildout and future tower leasing demand.
“Some of the more meaningful wins included new and expansion Commerce Hub agreements with a leading medical device company, a large specialty retail company and AT&T, among others.”
AT&T signed a new/expansion Commerce Hub agreement with Fiserv, a customer win for Fiserv's enterprise gateway.
“Our existing customers pay between 12-15% lower than AT&T and Verizon's.”
T-Mobile positions its existing-customer pricing as 12-15% below AT&T and Verizon, using both as the higher-priced competitive benchmark.
“we still have an ongoing arbitration with AT&T Mexico.”
American Tower is in ongoing arbitration with carrier customer AT&T Mexico, an outcome that could affect Latin America organic growth.
“with regard to AT&T, I think we've discussed before the structure of our MLA, which was a little bit front-end loaded in terms of payments associated with activity.”
SBA's AT&T master lease agreement was front-end loaded on payments, so recognized revenue is currently slower even though underlying activity is steadier; the agreement is up in a couple of years.
“Depending on the store, either AT&T or Verizon is staffing the mobile, assisting customers in a fast and seamless way by directly leveraging their own experts and proprietary carrier technology systems. We are encouraged by the initial results in these stores.”
AT&T is staffing dedicated mobile-department labor in select Best Buy stores as part of an expanded carrier partnership, with Best Buy citing encouraging early results.
“One out of every three AT&T and Verizon customers chose them at some point because they were the best network. And these customers are paying a premium for something that is simply no longer true.”
T-Mobile frames AT&T as a network competitor whose customers are paying a premium for network superiority T-Mobile argues no longer holds, a negative read on AT&T's competitive positioning.
“And so we're looking forward to working with AT&T and helping them in what they decide to do next year.”
American Tower expects AT&T to deploy newly acquired spectrum, supporting future U.S. tower leasing and densification demand.
“At the same time, Comcast and Charter behaving differently in terms of the way they price existing customer broadband rates.”
An analyst noted cable operators Comcast and Charter changing how they price existing-customer broadband; AT&T argued cable is priced higher with an inferior product and is the one having to readjust.
“At the same time, Comcast and Charter behaving differently in terms of the way they price existing customer broadband rates.”
An analyst noted cable operators Comcast and Charter changing how they price existing-customer broadband; AT&T argued cable is priced higher with an inferior product and is the one having to readjust.
“This includes our agreements to acquire spectrum licenses from EchoStar, and fiber assets from Lumen.”
AT&T agreed to acquire spectrum licenses from EchoStar, expanding its 5G/fixed-wireless capacity; the deal is expected to close early 2026.
“Our acquisition of Lumen Fiber assets which we expect to close in short order, is a key example of how we've positioned AT&T Inc. to materially improve share home internet and wireless.”
AT&T is acquiring Lumen's fiber assets (a network with only ~25% customer penetration, adding ~$900M annualized fiber revenue), which AT&T frames as underpenetrated and ripe for share gains.
“As you know, we have a very close relationship with AST. We want to help them move along and scale their product, and we think it's a unique approach to it”
AT&T reaffirms its close direct-to-device satellite partnership with AST SpaceMobile, a positive read-through for AST's scaling.
“If we see higher promotional activity in the fourth quarter given the changes at Verizon and T-Mobile”
An analyst frames T-Mobile as a wireless competitor whose leadership change could drive higher promotional intensity into Q4.
“If we see higher promotional activity in the fourth quarter given the changes at Verizon and T-Mobile”
An analyst frames Verizon as a wireless competitor whose leadership change could drive higher promotional intensity into Q4.
“We closed the sale of our remaining stake in DIRECTV in July and received approximately $320 million in cash in the quarter.”
AT&T fully exited its DIRECTV stake, completing the wind-down of that investment relationship.
“We are also making great progress in preparing to close our transaction with Lumen.”
AT&T is acquiring fiber assets from Lumen, expected to close in 2026, indicating Lumen is divesting a large fiber footprint.
“The EchoStar spectrum we agreed to acquire will improve our 5G wireless performance in a cost-efficient manner while allowing us to grow Internet Air at a faster pace.”
AT&T is acquiring spectrum licenses from EchoStar, a material asset sale that provides EchoStar cash while boosting AT&T's 5G and fixed-wireless capacity.
“At the start of July, we closed the sale of our full remaining stake in DIRECTV to TPG.”
AT&T closed the sale of its remaining DIRECTV stake to private equity firm TPG in July 2025, with over $4 billion of the original $7.6 billion in cash proceeds still to be received.
“Lumen is probably the next piece of that footprint that we need to bring that in under the umbrella, and we need to do really well in how we execute around that and it can create a lot of value for us.”
AT&T's CEO called its pending Lumen Mass Markets fiber asset acquisition the next major addition to AT&T's owned fiber footprint (targeting 60M+ locations by 2030), citing it as an example of a good asset-acquisition opportunity.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| John Hodulik | UBS | 12 (0%) |
| Mike Rollins | Citigroup | 11 (0%) |
| Peter Supino | Wolfe Research | 11 (18%) |
| Ben Swinburne | Morgan Stanley | 10 (0%) |
| Sebastiano Petti | JPMorgan | 7 (14%) |
| Dave Barden | New Street Research | 6 (0%) |
| Mike Ng | Goldman Sachs | 5 (0%) |
| Jim Schneider | Goldman Sachs | 4 (0%) |
| Kannan Venkateshwar | Barclays | 3 (0%) |
| Bryan Kraft | Deutsche Bank | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 | 12 (0%) |
| Morgan Stanley | 2 | 11 (0%) |
| Wolfe Research | 1 | 11 (18%) |
| Citigroup | 1 |
| 11 (0%) |
| Goldman Sachs | 2 | 9 (0%) |
| JPMorgan | 1 | 7 (14%) |
| New Street Research | 1 | 6 (0%) |
| Deutsche Bank | 1 | 3 (0%) |
AT&T met or exceeded all 2025 consolidated guidance and introduced a comprehensive new 3-year framework through 2028 targeting EBITDA growth improving from 3-4% in 2026 to 5%+ in 2028, adjusted EPS of $2.25-$2.35, FCF of $18 billion+, and $45 billion+ in shareholder returns. Full-year adjusted EPS grew nearly 9% to $2.12 with FCF of $16.6 billion growing over $1 billion. The fiber convergence rate reached 42% with the fastest annual increase while new segment reporting separated advanced connectivity from legacy operations.
Competitive Dynamics | Subscriber Growth | Pricing | Revenue Growth | Capex Investment | Margin | Cost Pressure | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 3 | 2 | 1 | 2 | 1 | |
| 2025Q1 | 2 | 2 | 2 | 4 | 3 | 2 | 4 | 3 |
| 2025Q2 | 5 | 5 | 1 | 3 | 4 | 1 | 1 | |
| 2025Q3 | 6 | 4 | 1 | 2 | 1 | 1 | 1 | |
| 2025Q4 | 6 | 5 | 3 | 3 | 2 | 3 | 2 | 2 |
| 2026Q1 | 4 | 3 | 3 | 2 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 2 | 5 | 6 | 6 | 4 |
| Subscriber Growth | 5 | 2 | 5 | 4 | 5 | 3 |
| Pricing | 3 | 2 | 1 | 1 | 3 | 3 |
| Revenue Growth | 2 | 4 | 2 | 3 | 2 | |
| Capex Investment | 1 | 3 | 3 | 1 | 2 | 1 |
| Margin | 2 | 4 | 1 | 3 | 1 | |
| Cost Pressure | 2 | 4 | 1 | 2 | 1 | |
| Macroeconomic | 1 | 3 | 1 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
T AT&T | 6 | +2.9% | |
| CHTR Charter Communications | 4 | -1.0% | |
| CMCSA Comcast | 6 | +5.3% | |
| VZ Verizon Communications Inc. | 6 | +2.9% |