Key Stats
Founded: 1876 (Bell Telephone Company)
Headquarters: Dallas, Texas
CEO: John Stankey (since July 2020)
Employees: Approximately 141,000
NYSE Ticker: T
AT&T Inc. provides telecommunications services and products including wireless communications, broadband, and business solutions. The company operates as the third largest telecommunications company by revenue globally and ranks as the third largest wireless carrier in the United States behind T-Mobile and Verizon.
The company delivers services through its Communications segment, which includes mobility and business wireline operations. AT&T serves more than 100 million wireless subscribers and millions of broadband customers across the United States.
AT&T reported revenues of $122.3 billion in 2024. The company refocused on telecommunications after spinning off its WarnerMedia entertainment division in 2022 and divesting DirecTV in 2025. AT&T continues investing heavily in 5G wireless and fiber broadband expansion.
AT&T History
AT&T traces its origins to the Bell Telephone Company founded by Alexander Graham Bell after his invention of the telephone. The American Telephone and Telegraph Company was established in 1885 as a Bell subsidiary and acquired the parent company in 1899. AT&T held a government-authorized monopoly throughout most of the twentieth century, known as the Bell System or Ma Bell.
In 1984, U.S. regulators broke up the AT&T monopoly into seven Regional Bell Operating Companies called Baby Bells. Southwestern Bell was one company created by this breakup. Through aggressive acquisitions in the 1990s, Southwestern Bell became SBC Communications and eventually purchased the original AT&T for $16 billion in 2005, adopting the AT&T name and brand.
1876
Alexander Graham Bell founded Bell Telephone Company after patenting the telephone. The company would grow to dominate American telecommunications for over a century.
1885
American Telephone and Telegraph Company established as a Bell subsidiary to build long-distance telephone networks across the United States.
1984
U.S. regulators broke up the AT&T monopoly, creating seven Regional Bell Operating Companies known as Baby Bells including Southwestern Bell.
2005
SBC Communications purchased the original AT&T for $16 billion and adopted the AT&T name and brand, reuniting much of the former Bell System.
2006
AT&T acquired BellSouth Corporation, consolidating ownership of Cingular Wireless and expanding its wireless and wireline operations.
2015
Completed $48.5 billion acquisition of DirecTV, becoming the largest pay-TV provider in the United States with over 20 million satellite subscribers.
2018
Acquired Time Warner for $85.4 billion after winning antitrust lawsuit. Renamed the entertainment division WarnerMedia, gaining HBO, CNN, and Warner Bros.
2020
John Stankey became CEO in July. WarnerMedia launched HBO Max streaming service in May, competing directly with Netflix and Disney+.
2022
Spun off WarnerMedia and merged it with Discovery to form Warner Bros. Discovery. AT&T refocused on core telecommunications business.
2025
Completed divestiture of remaining DirecTV stake. Announced acquisition of Lumen Technologies fiber business to expand broadband footprint.
AT&T Co-founders
Alexander Graham Bell
Inventor of the telephone who founded Bell Telephone Company in 1876. His invention revolutionized global communications and created the foundation for what became the Bell System monopoly.
Gardiner Greene Hubbard
Bell’s father-in-law and financial backer who served as the first president of Bell Telephone Company. He organized the company’s early financing and corporate structure.
Thomas Sanders
Early investor and trustee who provided crucial financial support during Bell Telephone Company’s founding years. He helped fund Alexander Graham Bell’s telephone experiments.
AT&T Competitors
AT&T competes with major telecommunications companies in wireless, broadband, and business services. Primary wireless competitors include Verizon Communications and T-Mobile US. In broadband markets, AT&T faces competition from cable providers like Comcast and Charter Communications.
| Company | Headquarters | Primary Services |
|---|---|---|
| Verizon Communications | New York, NY | Wireless, Fiber Broadband, Business Services |
| T-Mobile US | Bellevue, WA | Wireless, Mobile Broadband, Prepaid |
| Comcast Corporation | Philadelphia, PA | Cable, Broadband, Wireless, Media |
| Charter Communications | Stamford, CT | Cable, Internet, Mobile, Voice |
| Lumen Technologies | Monroe, LA | Fiber, Enterprise Networking, Cloud |
| Deutsche Telekom | Bonn, Germany | Wireless, Fixed Line, IT Services |
| América Móvil | Mexico City, Mexico | Wireless, Fixed Line, Broadband |
| Vodafone Group | London, UK | Wireless, Broadband, IoT Services |
| Telefónica | Madrid, Spain | Wireless, Broadband, Digital Services |
| Frontier Communications | Dallas, TX | Fiber, Broadband, Voice Services |
AT&T Revenue
AT&T generated $122.3 billion in revenue during 2024, remaining stable compared to the prior year. The company’s revenue peaked at $181.2 billion in 2019 before declining significantly following the 2022 spinoff of WarnerMedia. Current revenue reflects the refocused telecommunications business.
AT&T Annual Revenue (in Billions USD)
AT&T Acquisitions
AT&T has completed numerous acquisitions throughout its history, ranging from regional telephone companies to major entertainment conglomerates. The modern AT&T was formed through SBC Communications’ acquisition strategy, which reunited much of the former Bell System.
SBC Communications acquired Pacific Telesis in 1997, Southern New England Telephone in 1998, and Ameritech in 1999. The defining transaction came in 2005 when SBC purchased the original AT&T Corporation for $16 billion and adopted the AT&T name. A year later, AT&T acquired BellSouth for approximately $67 billion, consolidating full ownership of Cingular Wireless.
The company’s media expansion began with the $48.5 billion acquisition of DirecTV in 2015. AT&T gained the largest satellite television provider with over 20 million U.S. subscribers. This set the stage for the more ambitious Time Warner acquisition announced in 2016.
AT&T completed its $85.4 billion purchase of Time Warner in June 2018 after winning an antitrust lawsuit brought by the Department of Justice. The acquisition brought HBO, CNN, Turner Broadcasting, and Warner Bros. under AT&T ownership. The entertainment division was renamed WarnerMedia and launched HBO Max in 2020.
The media strategy proved short-lived. AT&T spun off WarnerMedia in April 2022, merging it with Discovery to form Warner Bros. Discovery. The company sold its 70% stake in DirecTV to TPG Capital in 2025. These divestitures allowed AT&T to reduce debt and refocus on telecommunications.
Recent acquisitions support the telecommunications focus. AT&T announced plans to acquire Lumen Technologies’ mass-market fiber business in 2025, expanding its broadband footprint across additional states.
AT&T Market Cap
AT&T has a market capitalization of approximately $168 billion as of early 2026. The company’s market cap peaked near $280 billion in late 2019 during its media expansion phase. Valuation declined significantly following the WarnerMedia spinoff and broader telecommunications sector pressures.
AT&T Market Cap by Year (in Billions USD)
FAQs
When was AT&T founded?
Bell Telephone Company was founded in 1876 by Alexander Graham Bell. The American Telephone and Telegraph Company was established in 1885. The modern AT&T formed when SBC Communications acquired the original AT&T in 2005.
Who is the CEO of AT&T?
John Stankey has served as CEO since July 2020 and became Chairman in February 2025. He previously held roles including Chief Operating Officer and CEO of WarnerMedia. Stankey joined AT&T in 1985.
What happened to AT&T’s media business?
AT&T spun off WarnerMedia in April 2022 and merged it with Discovery to form Warner Bros. Discovery. The company divested DirecTV to TPG Capital in 2025. AT&T now focuses exclusively on telecommunications.
How much did AT&T pay for Time Warner?
AT&T acquired Time Warner for $85.4 billion in cash and stock in June 2018. Including assumed debt, the total transaction value was approximately $108.7 billion. The deal closed after AT&T won an antitrust lawsuit.
How many employees does AT&T have?
AT&T employs approximately 141,000 people as of early 2025. The workforce has decreased from over 200,000 following the WarnerMedia spinoff and DirecTV divestiture. The company operates primarily in the United States.