Australia's Telstra posts 3.2% rise in annual profit, unveils further $706 million buyback

On August 13, Australia's Telstra Group disclosed a modest 3.2% increase in annual profit, complemented by a substantial A$706 million ($705.9 million) share repurchase. The company reported an annual profit attributable of A$2.24 billion for the fiscal year ending June 30, slightly below the estimated A$2.30 billion. Telstra justified the buyback by emphasizing strong earnings growth and a robust balance sheet.

Mobile segment revenue, accounting for 44% of group income, expanded by 3.2% to A$11.37 billion in 2026, bolstered by a higher average revenue per user (ARPU) and mobile service revenue growth. The firm also announced a higher final dividend of 10.5 Australian cents per share, reflecting improved earnings. Telstra's CEO, Vicki Brady, reaffirmed the company's commitment to growth, particularly in its mobile and infrastructure businesses, while navigating challenges such as recent network outages and regulatory scrutiny.