SYDNEY, AAP – Telstra’s first-half profit has slipped 2.2 per cent to $1.1 billion, after phone sales and global roaming declined during the pandemic, as well as other revenue.
The carrier on Thursday said net profit after tax was down after COVID-19 and the continued costs of customers migrating to the National Broadband Network reduced earnings.
Income dropped by more than 10 per cent to $12 billion, including a 12 per cent drop in mobile revenue.
Fewer phones were sold and fewer customers used global roaming due to coronavirus restrictions limiting international travel.
Chief executive Andy Penn was looking forward to the costs of customers migrating to the NBN coming to an end.
Top Australian Brokers
- City Index - Aussie shares from $5 - Read our review
- Pepperstone - Trading education - Read our review
- IC Markets - Experienced and highly regulated - Read our review
- eToro - Social and copy trading platform - Read our review
NBN Co pays Telstra a fee for each customer migrated, and this declined by 36.7 per cent to $658 million as the transition nears completion.
Telstra shareholders will receive an interim dividend of eight cents per share, including a special dividend of three cents per share. The payout was the same as at this time last year.
Shares were up 2.21 per cent to $3.24 at 1148 AEDT.
