Telstra (ASX:TLS)has today updated its FY20 guidance on the back of NBN Co’s Corporate Plan 2020 released last Friday.
NBN Co’s updated plan indicates a reduction in the total number of premises forecast to be connected during FY20 from 2 million to 1.5 million.
As a result of the changes Telstra expects to receive less total income but will increase its underlying earnings before interest, tax, depreciation and amortisation for the year.
Telstra no longer anticipates FY20 being the year of peak nbn headwind and now estimates this will occur in FY21.
Shares in Telstra (ASX:TLS) trading 1.6 per cent lower at $3.66