AT&T released their Q4 and full-year 2025 results showing revenue of $33.5 billion for the quarter and $125.7 billion for the year. Net income and EPS were up compared to 2024, though partly due to one-off gains. They also completed a $4.3 billion share buyback that retired about 2.24% of outstanding shares. The report notes that despite the buyback, the company still has a high debt load and faces ongoing risks from industry competition. Fair value estimates are mixed, ranging from $26 to $55.