AT&T (T) Goldman Sachs Communacopia + Technology Conference 2026 summary

Strategic priorities and growth outlook

• Focus remains on scaling fiber deployment and strengthening wireless, aiming for over 30 million fiber locations by 2030 and double-digit EPS CAGR through 2028.

• Convergence of fiber and wireless drives higher household revenues, improved margins, and lower churn, with a current convergence rate of 45%, up five points in two years.

• Product innovation includes initiatives like Build-A-Plan and targeted pricing to penetrate all market segments, not just premium, supporting broader service revenue growth.

• Strategic investments in Lumen fiber assets and EchoStar spectrum enhance market penetration and wireless attach rates, with converged customer gross adds up nearly 50%.

• Capital allocation prioritizes share buybacks, ongoing business investment, dividend maintenance, and reducing leverage to 2.5x net debt-to-adjusted EBITDA.

Convergence strategy and competitive landscape

• Fiber-led convergence is seen as a long-term differentiator, with future product and feature integration, including satellite services, to enhance customer experience.

• Emphasis on seamless network integration across fiber, wireless, fixed broadband, and satellite to deliver always-on, consistent connectivity and superior value.

• Competitive approach adapts by market and asset maturity, balancing discounts and value to maximize household accretion and long-term retention.

• Satellite is viewed as complementary, addressing the last 2% of use cases, with joint ventures to integrate satellite into existing offerings for full coverage.

Business segment, AI, and operational transformation

• Business advanced connectivity service revenue has returned to growth, driven by fiber expansion, new distribution channels, and focus on mid-market and new business logos.

• Next phase includes enabling customers to manage quality of service and security across both wireless and fixed networks, leveraging converged infrastructure.

• AI is boosting both network demand and internal efficiency, with applications in customer service, engineering, pricing, and churn management, improving productivity and cost efficiency.

• AI workload allocation is optimized between high-end and streamlined infrastructure, maximizing returns and supporting strategic business areas.