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TLS - Telstra News Story

NZD3.73 -0.1  -1.3%

Last Trade - 5:07am

Large Cap
Market Cap £23.05bn
Enterprise Value £33.00bn
Revenue £12.55bn
Position in Universe 15th / 1907

UPDATE 1-Australia's Telstra trims fiscal 2019 core earnings outlook

Wed 5th September, 2018 11:38pm
(Adds details on cut in fiscal 2019 outlook, background on NBN
rollout's impact on firm)
    Sept 6 (Reuters) - Australian telecom firm Telstra Corp Ltd
 TLS.AX  on Thursday trimmed its fiscal 2019 outlook to account
for the publication of the corporate plan of Australia's
National Broadband Network (NBN).
    The country's largest telecom firm said in a statement it
was updating its guidance to account for its assumption
regarding the NBN rollout and migration in fiscal 2019 differing
from the NBN Corporate Plan 2019, which was released on Aug. 31.
    The firm said it expects fiscal 2019 core earnings excluding
restructuring costs to be from A$8.7 billion ($6.26 billion) to
A$9.4 billion ($6.76 billion), slightly lower than the A$8.8
billion to A$9.5 billion range provided earlier.
    Telstra added that it expects to record from A$26.2 billion
($18.84 billion) to A$28.1 billion ($20.21 billion) in total
income excluding finance income for fiscal 2019, a reduction of
A$300 million on both ends of its previously provided outlook.
    The firm dominates Australia's mobile telephone and
broadband markets, but its mainstay fixed-line business has been
upended by the government's broadband network that is replacing
copper wires laid by the firm across the continent with a
fibre-optic system that the telco must now pay to access.*:nL4N1V65OX
   ($1 = 1.3906 Australian dollars)

 (Reporting by Aaron Saldanha in Bengaluru
Editing by Chris Reese and Leslie Adler)
 ((; +91 80 6749 1130; Reuters
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