Shares of AT&T (T - Get Report) were moving lower in extended-hours trading on Tuesday after the telecom giant reported weaker-than-expected third-quarter financial results.

For the quarter, the Dallas-based telecom reported adjusted earnings of 74 cents per share on revenue of $39.67 billion. Wall Street was expecting adjusted earnings of 75 cents per share and sales of $40.1 billion.

That said, the company reported its best-ever third-quarter postpaid phone churn of 0.84%, illustrating the success of its video and wireless bundling strategy.

AT&T maintained its full-year guidance.

Shares of AT&T are down 17.6% so far this year.

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