Australian telco Telstra logs 31% higher annual profit

(Reuters) -Top Australian telecom firm Telstra Group forecast higher operating earnings for fiscal 2026 and reported a 31% rise in its fiscal 2025 profit on Thursday, driven by sustained growth in its mobile segment.

The telecom firm announced a A$1 billion ($654.20 million)buyback, citing growth in earnings and a strong balance sheet, following February’s share repurchase announcement of A$750 million.

Telstra said it expects operating earnings between A$8.15 billion and A$8.45 billion for fiscal 2026, up from A$8.02 billion in fiscal 2025, as the company focuses on growing cash earnings through fiscal 2030.

The company reported a profit of A$2.34 billion for the year ended June 30, up from A$1.79 billion a year earlier and matching the Visible Alpha consensus estimate of A$2.34 billion.

It declared a final dividend of 9.5 Australian cents per share, slightly higher than the 9 Australian cents declared a year ago.

($1 = 1.5286 Australian dollars)