Telstra dials up shareholder returns with A$1 billion buyback, posts modest profit rise

Australia's Telstra Group announced a $1 billion ($705.9 million) share buyback and a slight increase in annual profit on Thursday. The company reported a profit of A$2.24 billion for the year ending June 30, a 3.2% rise from the previous year. This result was slightly below analysts' expectations of A$2.30 billion. The revenue from Telstra's mobile segment, which constitutes around 44% of the group's income, grew by 3.2% to A$11.37 billion in 2026, boosted by higher average revenue per user and mobile service revenue growth.

Telstra's focus on its mobile and infrastructure businesses aims to solidify its position as the leading telecommunications provider in Australia's competitive market.