Telstra shares are down over 4% in early trade as Australia’s largest telecommunication company announce half-yearly profits down 14.2% and revenue 3.6% lower.
The company reported half-yearly profits of $1.79 billion compared to $2.09 billion this time last year. Revenue fell to $12.8 billion from $13.3 billion over the same period of time.
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Their EBITDA of $5.18 billion was at the low end of earlier guidance, which is a sign that Telstra is undergoing a difficult transition to the post-NBN world.
The company announced an interim dividend of 15.5 cents per share, fully franked, which returns $1.8 billion to shareholders.
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