Telstra Corporation Ltd
(ASX:TLS) has announced its full-year profit went up 36.6% to $5.8 billion.
Australia’s largest telco company says its revenue rose 1.5% to $25.9 billion.
Telstra also announced it will buy back $1.5 billion worth of shares from its shareholders. This buyback will be funded from Telstra’s surplus cash and accumulated profits (which were boosted by the recent sale of its shares in Chinese car buying website, Autohome).
Over the next 3 years, Telstra will also invest an additional $3 billion into its networks – following a series of mobile and broadband network outages this year, for which it received strong consumer backlash.
