AT&T's Q3 2026 earnings, scheduled for release before the open on October 21, carry a 62.5% market-implied probability of beating consensus EPS estimates near $0.60–$0.61, reflecting trader focus on the company's recent execution. The firm delivered a solid Q2 beat of $0.65 versus $0.59 expectations, with adjusted EBITDA up 5.2% year-over-year and Advanced Connectivity service revenue rising 5.1%, driven by fiber and fixed wireless additions. Management reiterated full-year 2026 guidance for low single-digit service revenue growth, 3–4% adjusted EBITDA expansion, and $2.25–$2.35 adjusted EPS, while accelerating fiber deployment and cost savings. These factors support the moderate bullish tilt in trader positioning, though revenue shortfalls in prior quarters and macro sensitivity around wireless trends introduce downside risk ahead of the print.