Australia's Telstra posts 13% earnings rise

Telstra, Australia's largest telecommunications company, reported that its net profit for the six months to December 31 rose 13% to A$1.93 billion ($1.77 billion) from a year earlier, as it snared more market share from competitors, an Associated Press report said.

The Associated Press report said the better-than-expected result was also boosted by a A$100 million ($92 million) dividend from its 50% owned pay television unit Foxtel.

Melbourne-based Telstra said net profit for the six months ended December 31 rose to A$1.93 billion ($1.77 billion) from A$1.70 billion a year earlier, the report said.

Revenue rose 6.2% on-year to A$12.37 billion ($11.4 billion) from A$11.65 billion, the report said.

Telstra said it was raising its guidance, and now expects full year earnings before interest and tax growth of 6% to 8%, up from a previous forecast of 5% to 7% growth. The group expects total revenue for the year to rise 3% to 4% on-year.

The result was above market expectations.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.