Telstra updates FY20 guidance for NBN Co’s Corporate Plan 2020

Company News

by Anna Napoli

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

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.