AT&T Q2 Free Cash Flow Hits $4.7 Billion, Beating Guidance That Dropped Shares 3%

AT&T reported Q2 2026 free cash flow of $4.7 billion on July 22, above the $4.0–4.5 billion range it forecast in April, when shares fell roughly 3%. First-half FCF totals $7.2 billion against a full-year 2026 target of $18 billion or more. Total debt was $138.4 billion at end of Q1.