Dec 3 (Reuters) - AT&T ( T ) expects its free cash flow

to be more than $18 billion in 2027, the company said on Tuesday

as it detailed a three-year vision for the business to expand

its 5G and fiber services across the United States.

The wireless carrier aims to double its fiber internet

availability and enhance its 5G network, offering customers

bundled discounts on high-speed fiber data and wireless phone

services.

The Dallas, Texas-based company's efforts align with

industry trends toward high-speed internet and have already

yielded significant customer gains.

The company expects to reach more than 50 million locations

with fiber by 2029. It earlier reported 28.3 million fiber

passings, or the number of potential customer locations a fiber

network passes by.

The company's unlimited plans, featuring perks like

increased hotspot data, have driven higher-than-expected

wireless subscriber growth in the third quarter.

AT&T ( T ) plans to return more than $40 billion to shareholders

over the next three years through dividends and share

repurchases. Annual capital investment is expected to remain

around $22 billion in the period.

The company raised the lower end of its 2024 adjusted

earnings per share forecast to between $2.20 and $2.25, compared

with analysts' estimates of $2.21 per share, according to data

compiled by LSEG.

It outlined the growth expectations for 2025 to 2027,

excluding its 70% stake in DirecTV, which is being sold to TPG

for $7.6 billion. The deal is expected to close by

mid-2025.

In September, rival T-Mobile said it expects

adjusted free cash flow between $18 billion and $19 billion in

2027.

From 2025 to 2027, AT&T ( T ) forecast annual service revenue

growth in the low-single-digit range.