Business
Telstra earnings fall as NBN payments, COVID-19 pandemic take their toll – Sydney Morning Herald
Telstra has reported a double-digit fall in underlying earnings due to NBN headwinds and an estimated $170 million hit from the coronavirus pandemic.
Telstra has reported a double-digit decline in underlying earnings for the December half, dragged down by payments to the national broadband network and an estimated $170 million hit from the COVID-19 pandemic, but flagged its battered mobile division would return to growth by the end of the financial year.
The telco giants revenue fell 10.4 per cent to $12 billion in the half year to December 31, while net profit dipped by 2.2 per cent to $1.1 billion as chief executive Andrew Penn flagged the…
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