AT&T Inc.'s stock was soaring 9.12% during intraday trading on Wednesday, following the release of its second-quarter financial results that significantly exceeded analyst expectations.

The telecommunications giant reported adjusted earnings per share of $0.65, beating the consensus estimate of $0.59 by 10.17%. Furthermore, the company added 432,000 postpaid phone net subscribers during the quarter, far surpassing the FactSet estimate of 338,500 additions. This robust subscriber growth, driven by the success of its bundled connectivity offerings, demonstrated strong operational execution in a competitive market.

Investor sentiment was also bolstered by the company's announcement that it would accelerate its planned share repurchases in 2026 to approximately $10 billion, reflecting confidence in its market position and cash flow generation. AT&T reiterated its full-year and multi-year financial guidance, helping to ease broader market concerns, including fears about potential competitive disruption from SpaceX's Starlink service.