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AT&T keen to scale up Lumen assets as carrier continues fiber push
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US carrier AT&T grew its revenue by 2.9 percent Year-on-Year (YoY) for the first quarter of 2026, as the telco continued to highlight its focus on growing out its fiber footprint.
Key facts
- AT&T also noted that the company returned $4.3bn to shareholders in the first quarter through dividends and share repurchases, and plans to return more than $45bn to shareholders during 2026-2028
- CEO John Stankey previously upped AT&T's initial goal of reaching 50 million premises with fiber by 2029 to 60 million by 2030
- Despite the drop in legacy services revenue, AT&T's overall revenue grew by 2.9 percent for the quarter to $31.5 billion
- For the quarter itself, AT&T added a total of 584,000 consumer and business advanced connectivity Internet net adds, consisting of 292,000 fiber and 292,000 fixed wireless
Summary
The telco pointed to further fiber growth, as fiber passings surpassed 37 million for the year, including the addition of four million after AT&T's recently completed $5.75 billion acquisition of Lumen's mass market fiber business. CEO John Stankey previously upped AT&T's initial goal of reaching 50 million premises with fiber by 2029 to 60 million by 2030. According to Stankey, AT&T is on course to achieve this target. "Today, we reach over 37 million customer locations with fiber, and we’re on track to reach 60 million-plus locations by the end of the decade," said Stankey on the company's earnings call this morning.