Telstra six month results delight

21 Feb 2008

Telstra has beaten expectations with a 13% increase in first half profit, helped by rapid wireless and broadband subscriber growth. Net profit before one-offs in the six months ended 31 December 2007 rose to AUD1.926 billion (USD1.77 billion) from AUD1.704 billion in the same period of 2006. Wireless revenues rose 14.5% to AUD3.1 billion, while retail broadband revenue jumped 65.2% to AUD844 million, as it continued to gain market share with subscriber growth of 50.5%. Fixed line revenues fell 2.1%, the fourth consecutive six-month period the rate of decline had slowed. Wireless customers connected to Telstra’s 3G wireless network, dubbed Next G, accounted for 38% of the group’s wireless customer base at the end of January, up from 27% four months earlier; the company expects the service to be used by 70% of subscribers by 2010.

Australia, Telstra (incl. Belong)