AT&T CEO says satellite competitors are arriving very late to the game

Earnings

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Summary · why it matters

AT&T CEO John Stankey said satellite competitors like SpaceX's Starlink are arriving very late to a telecom industry that has spent decades building infrastructure. Speaking on CNBC's Squawk Box on July 22, Stankey noted that AT&T handles more than 98% of traffic from its converged customers on terrestrial networks, while satellite addresses only the small fraction of time a customer is off-grid. He said AT&T prefers a consortium approach, partnering with multiple low-Earth orbit operators including AST SpaceMobile, Amazon Kuiper, and SpaceX, rather than a bilateral deal with any single provider. AT&T reported second-quarter revenue of $31.6 billion, up 2.3% year over year, and announced an accelerated $10 billion share buyback program for 2026. The stock closed at $24.13 on July 24, up 5.10% on the session following earnings.

Ast Spacemobile Inc ▲

Space Exploration Technologies Corp. Class A Common Stock ▼

Impact on stocks 4

Space Economy± Mixed · 2 stocks

Ast Spacemobile Inc

▲ PositiveDemandrelevance

AT&T CEO mentions AST SpaceMobile as a partner, implying ongoing business relationship and potential demand for its satellite services.

Space Exploration Technologies Corp. Class A Common Stock

▼ NegativeCompetitionrelevance

AT&T CEO says satellite competitors like Starlink are arriving very late, downplaying their relevance and market position.

Cloud & Digital Infrastructure▲ · 1 stocks

▲ PositiveCapitalrelevance

AT&T reported Q2 revenue up 2.3% and announced an accelerated $10 billion share buyback for 2026, driving stock up 5.1%.

Artificial Intelligence▲ · 1 stocks

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