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AUSTRALIA'S TELSTRA UPGRADES EARNINGS GUIDANCE.
SYDNEY, Nov 1 Asia Pulse - Telstra (ASX:TLS) has upgraded its earnings guidance for this year, as its transformation strategy to expand and upgrade its networks and systems begins to deliver results.
Chief executive Sol Trujillo now sees earnings before interest and tax (EBIT) growing by between five and seven per cent in 2007/08, up from a previous forecast of three to five per cent.
Excluding a $A100 million ($US93.18 million) dividend from its 50 per cent owned pay television operator Foxtel, EBIT would grow up by four to six per cent.
Mr Trujillo also projected revenue and earnings before interest, tax, depreciation and amortisation growth to 2010 to lift by between 2.5 per cent and three per cent a year, compared to earlier guidance of two to 2.5 per cent.
Speaking at an investor briefing in Sydney today, Mr Trujillo said Australia's biggest telco was stemming a long-run decline in its traditional fixed line, or PSTN, business.
It had added 33,000 retail customers to the copper telephone line service in the September quarter.
"Telstra is winning on the front line," Mr Trujillo said.
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Source: HighBeam Research, AUSTRALIA'S TELSTRA UPGRADES EARNINGS GUIDANCE.