Investing.com -- AT&T Inc. (NYSE: T) reported its first-quarter results before the open on Wednesday, exceeding analyst consensus expectations.

Adjusted earnings per share came in at $0.57 compared to the consensus estimate of $0.55. Revenue reached $31.5 billion, up 2.9% YoY and above the analyst estimate of $31.25 billion.

The telecommunications company posted postpaid phone net additions of 294,000, surpassing the estimate of 270,000. AT&T added 584,000 total internet customers during the quarter, split evenly between 292,000 fiber and 292,000 fixed wireless subscribers. Advanced Connectivity service revenue grew 3.6% YoY to $22.9 billion, while operating income in that segment increased 14.8% to $6.9 billion. The company reported that nearly 45% of advanced home internet subscribers also subscribe to AT&T wireless service.

Shares rose 0.8% following the results announcement.

"We saw our best first quarter ever for Advanced Connectivity internet customer net additions, demonstrating the solid foundation of assets we have built," said John Stankey, AT&T Chairman and CEO. "We're uniquely positioned to deliver more of what customers want — fiber and 5G all from one provider on the nation's largest advanced converged network, backed by the AT&T Guarantee."

Free cash flow totaled $2.5 billion, down from $3.1 billion in the year-ago quarter, reflecting higher capital investment as the company accelerates fiber deployment. Capital expenditures related to continuing operations were $4.9 billion, up from $4.3 billion in the prior-year period.

AT&T reaffirmed its full-year 2026 guidance, expecting adjusted EPS of $2.25 to $2.35, adjusted EBITDA growth of 3% to 4%, and free cash flow of at least $18 billion. The company also maintained its plan to repurchase approximately $8 billion in shares during 2026.