Business
Telstra (ASX:TLS) share price rises as brokers pass judgement on its profit result
The ASX slumped this afternoon but the Telstra Corporation Ltd (ASX: TLS) share price is bucking the downtrend as experts reacted to its profit results.
The Telstra share price jumped 0.6% to $3.27 in after lunch trade when the S&P/ASX 200 Index (Index:^AXJO) fell 0.5%.
The losses on the market deepened when Victoria announced it was re-entering a five-day hard lockdown.
Don’t underestimate Telstra’s profit results
But that wasn’t enough to put a dampener on the Telstra share price as several brokers gave its earnings announcement their tick of approval.
UBS reckons the market may be missing the significance of the telco’s decision to increase the Transacting Minimum Monthly Commitment (TMMC) on mobile plans in the current…
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