AT&T

AT&T is a massive American telecommunications company, born from the breakup of the original Bell System monopoly. Today, it is the third-largest wireless carrier in the United States, behind T-Mobile and Verizon, and the nation's largest fiber internet provider. Headquartered in Dallas, Texas, the company serves over 240 million subscribers worldwide and reported $125.6 billion in revenue in the most recent fiscal year. On the Fortune 500 (2025), AT&T ranked 37th among the largest U.S. businesses, with a market capitalization around $187 billion. Its operations split into Communications (wireless, broadband, business solutions) and Latin America (wireless in Mexico). Even after spinning off DirecTV, AT&T still offers bundling deals with the satellite TV service.

The company's roots go back to 1885, when the original American Telephone and Telegraph Company was formed as a long-distance subsidiary of American Bell. It eventually dominated U.S. telephony, earning the nickname Ma Bell. But a 1982 antitrust settlement forced the breakup of the Bell System into seven independent Baby Bells. The smallest of those, Southwestern Bell Corporation (SBC), went on an acquisition spree, buying Pacific Telesis and Ameritech. In 2005, SBC bought the remnants of the original AT&T and adopted its name, creating the modern AT&T. Since then, AT&T has acquired BellSouth, absorbed Cingular Wireless (now AT&T Mobility), and attempted to become a media giant by buying DirecTV and Time Warner. Those media gambles did not pay off as hoped: DirecTV was sold to TPG Inc., and WarnerMedia merged with Discovery to form Warner Bros. Discovery. Now AT&T refocuses on 5G and fiber networks.

In July 2026, AT&T closed a $23 billion acquisition of wireless spectrum licenses from EchoStar, enhancing its 5G capabilities. The company also expanded its quantum computing partnership with D-Wave Systems, using quantum computing to solve network problems in seconds. AT&T reported earnings that beat expectations in July 2026 and announced a $10 billion stock buyback program. The company trades at approximately 8 times earnings with a 4.6% dividend yield. AT&T heavily sponsors sports events, including the WNBA All-Star Game and MLS All-Star Skills Challenge, and operates the AT&T Performing Arts Center in Dallas. However, the company has faced scrutiny over copper wire theft incidents and concerns that its fiber and wireless bundling strategy may be quietly eroding profitability. [edit]