Q1 2025 Telco Earnings At-a-Glance

The big telcos reported their Q1 earnings. Here's what you need to know:

AT&T

• AT&T reported 30.6 billion in revenues, a 2% increase year over year.
• 324,000 postpaid phone net adds, 261,000 net new fiber subscribers, and 181,000 internet air fixed wireless additions.
• AT&T’s fiber growth looks encouraging, with CEO John Stankey stating their goal of reaching over 50 million locations with fiber by 2029.
• He also mentioned the uncertainty of tariffs, saying the impact will depend on things such as how much vendors pass on and overall consumer and business demand factors.

Verizon

• Verizon reported 33.5 billion in operating revenue for Q1, up 1.5% YoY
• A net loss of 289,000 postpaid wireless phone subscribers, 45,000 Fios fiber and 308,000 fixed wireless net new additions.
• Verizon’s CEO Hans Vestberg called tariffs a moving target, and it seems for Verizon, fiber should fare better than wireless when it comes to potential tariff impacts.

T-Mobile

• T-Mobile reported just under 21 billion in Q1 revenue, a 6.6% increase year over year
• 495,000 net new postpaid customer additions, 424,000 new fixed wireless subscribers.
• T-Mobile’s CEO Mike Sievert said regarding tariffs that they “haven't seen anything that causes us to think there's any kind of material impact to our business coming either way,” but that mobile device prices could increase.