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AT&T Earnings Fall, but Match Estimates

The company's third-quarter revenue fell 7.7% from a year ago.

AT&T (T) - Get AT&T Inc. Report said third-quarter earnings fell significantly from the same period a year ago as competitionand weak prices in the long-distance telephone market dragged down the company's results.

The company said third-quarter earnings, excluding one-time items, totaled 4 cents a share, down from 38 cents a share a year ago. Analysts expected the company to earn 4 cents in the latest quarter, according to First Call.

Revenue dropped 7.7% to $13.1 billion, but the company expects the top line in the fourth quarter to increase slightly.

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