|Bid||3.81 x 1700000|
|Ask||3.83 x 1500000|
|Day's range||3.83 - 3.85|
|52-week range||3.71 - 5.60|
|PE ratio (TTM)||10.66|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Australian businesses have cheered the nation's majority 'yes' decision in support of same-sex marriage and are urging federal parliament to legislate quickly. Qantas, Commonwealth Bank and ANZ were among those who warmly endorsed the 61.6 per cent 'yes' vote in favour of marriage equality unveiled on Wednesday by the Australian Bureau of Statistics. "We're delighted for our customers and our people who are celebrating today following the 'yes' outcome of the Australian Marriage Law survey," the Commonwealth Bank said on Twitter.
Telstra has offered to compensate around 42,000 customers after failing to provide customers with the fast National Broadband Network speeds they promised. The telco will offer remedies, including refunds, to those who purchased internet services through both the Telstra and Belong brands between September 2015 and November this year, after admitting it may have breached consumer law by promoting NBN speeds that it was not capable of delivering. An Australian Competition and Consumer Commission investigation found many customers were not receiving the top speed of their plan or even the maximum speed of a lower-speed plan.
Telstra has offered to compensate 42,000 customers after failing to provide customers with the fast National Broadband Network speeds they promised. An Australian Competition and Consumer Commission investigation found many of Telstra's customers could not receive the top speed of their plan, nor could they receive the maximum speed of a lower-speed plan. The investigation was prompted by an alert from Telstra to the ACCC that approximately 9,000 of its customers on two of its plans could not receive speeds above a lower-speed plan.
Analysts remain cautious about Telstra's outlook amid concerns of tough competition, falling fixed-line margins and the impact of the NBN. Telstra used its investor day this week to highlight its plan to focus more on 5G and the so-called Internet of Things (IoT), which enables more services to be delivered over its mobile network. The broker said it remains cautious and maintained its sell rating despite Telstra's dominance in both fixed and mobile.
Telstra boss Andrew Penn says the economics of the national broadband network are "challenging", but his organisation remains committed to being the market leader. Mr Penn told Telstra's investor day conference that wholesale prices on the NBN made for "extremely slim" margins for retailers offering services on the network, exacerbating the major earnings hit Telstra expects once the network is completed. "While the current economics are challenging I am confident that ultimately the dynamics will improve," he said.
Telstra has bought Australian owned GPS and technology company MTData in a move towards accelerating its 'Internet of Things' business globally. The acquisition, which is believed to have cost Telstra around $50 million, will provide the telco with advanced technology and expertise in connected vehicle solutions. It is understood the technology from MTData helps transport companies manage their logistics by tracking vehicles and producing data to give a better understanding about driver fatigue.
Telstra has offered refunds to some subscribers of its AFL streaming service after the consumer watchdog raised concerns about the telco's disclosure of the size of its viewing screen available on mobiles and tablets. The consumer watchdog says Telstra in January introduced a screen-size restriction for live AFL matches on its Live Pass app - meaning games no longer appeared full-screen on many tablets - but did not clearly notify the change to subscribers. It is understood the change only impacted a small number of customers with more than 90 per cent of Telstra consumers streaming the app on phone rather than tablets.
Telstra has offered refunds to some subscribers of its AFL streaming service after the consumer watchdog raised concerns about the telco's disclosure of the size of its viewing screen available on mobiles and tablets. The consumer watchdog says Telstra in January introduced a screen-size restriction for live AFL matches on its Live Pass app - meaning games no longer appeared full-screen on many tablets - but did not clearly notify the change to subscribers. The AFL Live Pass app is advertised on the AFL website with images of matches appearing full-screen on tablets, the Australian Competition and Consumer Commission said.
Telstra says competition in the telecommunications sector remains tough and concedes it will probably lose customers to smaller rival TPG Telecom when the market newcomer establishes its own mobile phone network. Telstra chairman John Mullen says TPG is "a formidable operator", and Telstra is not underestimating its impact on pricing and competition.
Telstra chairman John Mullen says the telco's board had "many sleepless nights" agonising over the decision to cut its historically high dividends but making no change would have put the company's balance sheet at risk. Mr Mullen told shareholders at the company's annual general meeting on Tuesday that he realised that the company's recent decision to change its dividend policy was tough on shareholders. "We spent many long hours debating it, many sleepless nights working it through in our minds, knowing full well the impact it would have on our shareholders," Mr Mullen said in Melbourne on Tuesday.
Telstra chairman John Mullen says the end of Telstra's policy to pay almost all profits out as dividends was tough on shareholders but he expects the company to maintain or increase the total dividend over time as earnings grow. Telstra chief executive Andrew Penn told shareholders at the company's annual general meeting in Melbourne that the operating environment for telcos is challenging, with increased competition, digital disruption and the migration to the NBN (National Broadband Network) to be dealt with over the next two to three years. Telstra has confirmed its guidance for 2017/18, saying it expects income in the range of $28.3 billion to $30.2 billion and EBITDA (earnings before interest, tax, depreciation and amortisation) of $10.7 billion to $11.2 billion.
The consumer watchdog has launched an investigation into the proposal to merge Foxtel and Fox Sports Australia into a single company majority owned by News Corp. Fox Sports is completely owned by Rupert Murdoch's News Corp, while Telstra and Foxtel currently share ownership of Foxtel 50-50.