(NYSE: VZ) reported earnings this morning and fell short of analyst estimates -- and that's caused AT (NYSE: T) and Comcast (NASDAQ: CMCSA) to fall with it. The market seems to be taking a sell-first, ask-questions-later approach to this earnings season so far.

Shares of Verizon traded as much as 7% lower on the day, Comcast dropped 3.2%, and AT was down 4.2%. The stocks were off 6.3%, 1.5%, and 3% respectively at 3:00 p.m. ET.

The headlines today show that Verizon's revenue missed estimates of $32.9 billion after a 0.6% increase in revenue to $32.8 million in the second quarter. But that was in large part because hardware sales, which lose money, were down $300 million to $5 billion.

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Source Fool.com