Telstra boosts new subscribers on the back of unique ad campaigns

Telstra made a $1.8 billion profit during a cost-of-living crisis, aided by strong performance in its mobile offerings, a slew of new customers, and the fallout from the Optus outage.

Telstra reported full-year profits of $1.8 billion this week, down 13% from FY23, with underlying net profit after tax of $2.3 billion. Telstra credits the profit drop to a one-of $715 million cost incurred due to the downsizing of its enterprise business.

EBITDA (earnings before interest, tax, depreciation and amortisation) were $7.5 billion.

Tesltra’s mobile services revenues jumped 5.6%, with revenue per user up 2.1%. Telstra has implemented price hike which take effect this month, meaning this ARPU should rise again this current financial year. Telstra added 560,000 customers during FY24, no doubt some of these leaped from Optus.