"By separating the performance of our advanced connectivity business from our declining legacy segment, we believe investors will have greater transparency into the returns we're generating on our growth investments in 5G and fiber."
"In 2025, advanced connectivity drove about 90% of our revenues and over 95% of our adjusted EBITDA on a recast basis."
"KeyBanc expects Advanced Connectivity EBITDA growth of 6% to 7% to offset Legacy drag beyond 2027, allowing total EBITDA to accelerate from roughly 3% in 2026 to over 5% by 2028."
"AT&T appears best positioned to drive converged customers to over 12 million by 2030, according to KeyBanc."
AT&T is implementing a three-segment reporting structure starting Q1 2026, which includes Advanced Connectivity, Legacy, and Latin America. This change aims to enhance investor transparency regarding growth investments in 5G and fiber. KeyBanc anticipates Advanced Connectivity EBITDA growth of 6% to 7% to counterbalance the Legacy segment's decline. Both Goldman Sachs and KeyBanc highlight converged customer growth as a key factor for their revised price targets, projecting AT&T to exceed 12 million converged customers by 2030.
Read at 24/7 Wall St.
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