AT&T Inc. (T) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to AT&T's fourth quarter 2025 earnings call. I need to call your attention to our safe harbor statement. It says that some of our comments today may be forward-looking. As such, they are subject to risks and uncertainties described in AT&T's SEC filings. Results may differ materially. Additional information, as well as our earnings materials, are available on the Investor Relations website. With that, I'll turn things over to John Stanky. John? Thanks, Brett. And Happy New Year to everybody. I appreciate you joining us today. As you can see in our earnings materials, we have a lot to cover. So I'm going to quickly summarize a few highlights from our results and then spend most of my time discussing how our investments and differentiated position support our long-term outlook for improved growth and significant capital returns. After that, Pascal will provide a little more color on our fourth quarter performance, plan changes to our segment reporting next quarter, and key drivers of our financial guidance through 2028. So our prepared comments are probably going to run a little bit longer than usual, but we'll allow a little extra time to take your questions. During our Analyst and Investor Day at the end of 2024, we outlined our path to become the best advanced connectivity provider in America, and I believe our team executed well against this strategy in 2025. We met or exceeded all of our consolidated full-year financial guidance, driven by another solid year of 5G and fiber subscriber growth. We reported over 1.5 million postpaid phone net ads for the fifth consecutive year and over 1 million AT&T fiber net ads for the eighth consecutive year. We also accelerated the growth of AT&T Internet Air with 875,000 net ads, which more than doubled...