AT&T 's better-than-expected earnings helped investors look past a sizable goodwill impairment charge and disappointing subscriber gains. The telecom company's shares rose 4.3% heading into the market close.

The telecom giant took a $4.4 billion goodwill impairment charge related to its business-wireline unit, which is under pressure as business customers cut back on legacy voice services.

AT&T reported better-than-expected postpaid phone net adds in the third quarter, and shares advanced Wednesday.

In the same period last year, AT&T reported adjusted earnings of 64 cents a share on revenue of $30.4 billion. Service revenue growth from subscriber and average revenue per user

AT&T surpassed earnings expectations but struggled with lower-than-anticipated revenue in its latest quarterly results.