FILE - The company logo hangs over the door to a AT&T telephone store, Feb. 22, 2024, in Denver. The company also announced Tuesday that it expects its improved financial performance to support more than $40 billion of anticipated shareholder returns through dividends and stock buybacks over the same time. This includes an initial $10 billion stock repurchase that it expects to complete by the end of 2026.
“Over the last four years, we’ve achieved durable and profitable subscriber growth, generated attractive returns on network investment, and strengthened our balance sheet,” AT&T CEO John Stankey said in a statement.The Dallas company said that it’s looking to expand its fiber broadband network to more than 50 million locations by the end of 2029.
AT&T said that it expects to have largely completed the modernization of its 5G wireless network with open technology by 2027, with deep mid-band 5G spectrum covering more than 300 million people by the end of 2026. The company said that the network will be able to support super-fast download speeds and serve as a platform for new product and GenAI innovation.
Free cash flow is expected to total more than $16 billion next year, excluding DirecTV. AT&T predicts annual growth of approximately $1 billion, resulting in free cash flow of more than $18 billion in 2027.