Telstra (ASX:TLS) share price surges after earnings

The Telstra Corporation Ltd (ASX: TLS) share price is surging today. Telstra shares are up 2.52% to $3.25 a share at the time of writing, after rising from yesterday’s close of $3.18 a share.

That means that Telstra shares are now up 7.9% year to date, and at their highest point since August 2020. They are also up around 21% from the 52-week low of $2.66 a share that we saw back at the end of October last year.

At the current share price, Telstra has a price-to-earnings (P/E) ratio of 21.25, a market capitalisation of $38.65 billion and a trailing dividend yield of 4.91%.

Why are Telstra shares lifting today?

The positive performance of the Telstra share price today follows the company’s half-year earnings update delivered…