AT&T Inc.'s stock surged 5.17% in pre-market trading on Wednesday, following the release of its second-quarter 2026 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. The company added 432,000 postpaid phone subscribers during the quarter, well above the FactSet estimate of 338,500, driven by the success of its bundled connectivity offerings like OneConnect. AT&T also added over 1 million Advanced Connectivity customers, with strong growth in both fiber and fixed wireless internet services.

Management reiterated its full-year 2026 and multi-year financial guidance while announcing an acceleration of its share repurchase program to approximately $10 billion in 2026, reflecting confidence in the company's market position and cash flow generation. The combination of stronger-than-expected subscriber growth, earnings outperformance, and enhanced capital returns to shareholders fueled the pre-market rally.