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Why AT&T Stock Sank More Than 8% Today

·2 min read
Why AT&T Stock Sank More Than 8% Today
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Shares of telecommunications giant AT&T (NYSE: T) tumbled in Wednesday afternoon trading, despite the company reporting an earnings beat in the morning. Ahead of the fourth-quarter release, analysts had forecast AT&T would report $0.76 per share in adjusted earnings on $40.4 billion in revenue. Revenue came in just under $41 billion, and AT&T earned $0.78 per share on a pro forma basis.