AT&T Inc. T, +0.14% shares fell 2.9% in Wednesday after-hours trading after the mobile and entertainment company reported first-quarter earnings and sales that missed expectations. Net income for the quarter was $3.7 billion, or 75 cents per share, up from $3.5 billion, or 56 cents per share, for the same period last year. Adjusted EPS was 85 cents. Revenue totaled $38.0 billion, down from $39.4 billion. The FactSet consensus was for EPS of 87 cents and revenue of $39.3 billion. AT&T maintains its full-year expectations for 3.2 million total wireless customers, including 2.6 million in the U.S., driven by connected devices and prepaid customers, and 312,000 DirectNow TV additions to reach nearly 1.5 million subscribers. AT&T shares are down 9.5% for the year so far while the S&P 500 index SPX, +0.12% is down 1.3% for the period.