AT&T Shares Fall 2% After Earnings Miss

AT&T Inc. shares fell in after-hours Wednesday, after the company reported worse-than-expected third-quarter results. AT&T said it had a net income of $3 billion, or 58 cents a share, in the quarter, from 72 cents a share in the year-earlier period. The telecommunications giant said adjusted per-share earnings came to 63 cents, compared with FactSet consensus of 64 cents. It reported sales of $33 billion, from $32.1 billion a year ago and compared with a FactSet consensus of $33.2 billion. Shares have gained 1.9% in the year to date, while the S&P 500 has gained 4.3%.