Australia’s Telstra raises 2020 earnings guidance

NEW DELHI: Telstra raised its 2020 core earnings guidance on Monday as it anticipates the worst impact of the rollout of a state-owned broadband network to occur sooner than previously expected.

Australia’s largest telco by market value said it expected 2020 underlying earnings before interest, tax, depreciation and amortisation to be A$7.4 billion ($5 billion) to A$7.9 billion, from the previously announced range of A$7.3 billion to A$7.8 billion. ($1 = 1.4806 Australian dollars)