Telstra has reported a sizeable 8.1% increase in profit for its latest earnings report, amid ongoing job cuts.
Profit for the first half of this financial year came in at $1.2 billion, above estimates.
Average revenue per user went up 4.8% to $56.22, after price increases on mobile plans last year.
However, the strong results come after multiple rounds of job cut announcements, with redundancy pay-outs increasing by $63 million.
The half-year results also showed operating expenses were cut back by 2.1% to $7.6 billion.
Most of the telco giant's guidance remained unchanged, but Earnings Before Interest, Taxes, and Amortisation was tightened to a range of $8.2-$8.4 billion.
“The first half of FY26 was a strong period for Telstra. We delivered ongoing growth in earnings, reflecting momentum across our business, strong cost control and disciplined capital management,” the report read.
“Looking ahead, we are focussed on continuing to deliver value for our customers, communities and shareholders.”
Shares in Telstra closed 3.63% on Thursday at $5.14. The company's market cap is $55.73 billion.
