Telstra earnings reflect ‘final transitional effects’ of the NBN

Telstra’s half-year profit – announced this week – was down 34 per cent to to $743 million, and underlying earnings a share jumped 55 per cent.

Sky News business editor Ross Greenwood discussed this with Telstra CEO Andy Penn.

“One of the unique dynamics that Telstra has been dealing with over the last period of time is of course the impact of the transition to the NBN,” Mr Penn said.

“The current financial year for us is a very important one, it’s an inflection because what you’re seeing is the final transitional effects of the NBN in our reported results but the growth in our underlying results from all of our initiatives under our T22 strategy.”

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