AT&T (T) Barclays Communications and Content Symposium 2026 summary

Opening remarks and context

• Event was held virtually due to travel disruptions, with participation from the CFO and industry analysts.

• Safe harbor statement highlighted forward-looking comments and quiet period restrictions regarding FCC Spectrum Auction 113.

Mobility and wireless business outlook

• Wireless service revenues grew over 3% in 2025, with modest ARPU growth and significant broadband revenue increases.

• Expansion of fiber and fixed wireless footprint is expected to drive further convergence and customer value.

• Converged customers show higher retention, spend more, and have greater lifetime value.

• Targeting has broadened to include value customers, with bundled discounts for converged services.

• ARPU may remain stable, but pricing power is maintained in parts of the base.

Churn and customer retention

• Elevated churn in 2025 was driven by contract roll-offs, immigration trends, and regulatory impacts.

• Higher churn is expected in 2026, but increased convergence is anticipated to reduce churn over time.