Telstra sees profit fall 40%2019|00:57
Telstra (ASX:TLS) released their full year results for financial year 2019, showing their net profit after tax decreased 39.6 per cent to $2.1 billion. Total Income decreased 3.6 per cent to $27.8 billion. EBITDA decreased 21.7 per cent to $8.0 billion. This was in line with expectations due to the impact of the nbn. Telstra absorbed around $600 million of negative recurring EBITDA headwind in the period. To date Telstra estimates the nbn has adversely impacted EBITDA by approximately $1.7 billion since FY16, and estimates it is around 50 per cent of the way through the recurring financial impact of the nbn. As expected, the full-year dividend was cut to 16 cents per share. Shares in Telstra (ASX:TLS) closed 0.25 per cent higher at $3.94 yesterday.