Fiber Network ExpansionAT&T is likely to sustain a favorable pace of fiber footprint expansion, announce a multi-year share repurchase program and sustain some degree of future financial flexibility for possible spectrum acquisitions as well as inorganic fiber footprint expansion.
Financial Performance And GrowthPrice and volume growth are driving revenue and leading margin expansion, capital investment is falling, FCF is rising, leverage is falling, and capital allocation options have expanded.
Stock Buyback ProgramThere is an expectation of a multi-year share repurchase program for AT&T, estimated to reach $20-30 billion over four years.