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Reading: Telstra posts bigger-than-expected profits
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B&T > Media > Telstra posts bigger-than-expected profits
Media

Telstra posts bigger-than-expected profits

Staff Writers
Published on: 8th August 2013 at 12:52 PM
Staff Writers
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Telstra has posted a $3.9bn net profit for the year ending June 2013 – up from $3.4bn last year.

Australia’s biggest telco beat analysts’ expectations of $3.76bn.

The company has reported that it added 1.2 million new mobile customers in the past year. It now has more than 15 million retail mobile customers on its network.

David Thodey (pictured), Telstra’s CEO, said: “We have been able to deliver the third consecutive year of significant customer growth as a result of our focus on improving customer service as well as continued investment in the network.”

He said Telstra will extend its 4G coverage to 85% of the country by the end of 2013.

Telstra’s fixed telephone line business, however, continued its decline as more people choose mobile instead. The telco lost more than 300,000 fixed line customers in the past 12 months.

The decline in revenues from Telstra’s fixed line business was offset by stronger demand for fixed broadband.

Telstra’s $11bn NBN agreement with the government is also starting to pay dividends for the company – it received about $400m in NBN payment from the government in the past year. 

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Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

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