Telstra CEO: ‘We’ve reached a turning point’

Telstra’s half-year results prove the company did not emerge from 2020 unscathed, although it has stemmed the bleeding.

Australia’s biggest telco recorded falls in almost every major financial metric.

Revenue fell by 10 per cent to just over $10 billion while net profit fell 2.2 per cent to $1.125 billion.

However, despite the dip in profit, Telstra will maintain an interim dividend of 8 cents per share.

Speaking with Brooke Corte, Telstra CEO Andy Penn says this represents a turning point for the company.

“We’ve had to deal with the structural impacts of migrating a significant amount of our business to the NBN,”

“At the same time, we’ve been really focused on improving the performance of our mobile business and we’re seeing growth there,”

“We’re leading in 5G, we’ve got a million 5G connected devices on our network already, with more than 50% population coverage,”

Click play to hear the full interview: