AT&T misses top-line estimates in Q3 despite strong subscriber numbers
By Benjamin Chiou
Date: Wednesday 22 Oct 2025
(Sharecast News) - US telecoms giant AT&T on Wednesday reported mixed third-quarter results, adding significantly more wireless customers than analysts expected while revenues came in shy of estimates.
The company said it had 405,000 postpaid phone net adds during the three months to 30 September, taking total wireless net adds to 748,000. Analysts had expected postpaid phone net adds to rise by 362,000.
Total revenues for the period were $30.7bn, up 1.6% from $30.2bn the year before but slightly less than the $30.9bn expected by the market. In particular, the 3.1% revenue growth reported in the larger mobility division to $21.7bn came in short of forecasts due to lower-than-expected phone sales.
Adjusted EBITDA increased by just 2.2% to $9.7bn, with growth held back by a drop in the EBITDA margin to 44.7% from 45.1%.
"We continue to add highly-profitable customers that are choosing AT&T for all their connectivity needs on the country's fastest and largest wireless and fibre networks," said chair and chief executive John Stankey.
"It's clear our differentiated investment-led strategy is working, and we remain on track to achieve all of our 2025 consolidated financial guidance."
Looking ahead, AT&T expects consolidated service revenues to grow at a low-single-digit percentage range in 2025, with mobility service revenue growth of at least 3% and consumer fibre broadband revenue growth in the mid-to-high-teens.
Full-year adjusted EBITDA is expected to grow by 3% or more, while adjusted earnings per share are tipped to be at the higher end of the $1.97-2.07 guidance range, though down from $2.26 in 2024.
AT&T shares were trading 1.8% lower at $25.59 ahead of the opening bell on Wall Street.
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