Telstra Reports 31 Percent Profit Increase Over Last Year, Expands Buyback

Cost cuts, strong mobile performance, and portfolio changes were drivers behind the result.

People walk past a Telstra store on Melbourne's central business district on June 20, 2018. William West/AFP via Getty Images

Australia’s largest telecommunications company, Telstra, has reported a 31 percent rise in annual net profit to $2.34 billion (US$1.53 billion) for 2024–25, up from $1.8 billion a year earlier.

It has also extended its on-market share buyback program by $1 billion, in its results released on Aug. 14.