Key Highlights

  • Telstra (ASX:TLS) recorded 66,912,520 shares in trading volume, while its share price declined $0.160 or 3.200% to $4.840.
  • Telstra delivered 4% growth in FY26 underlying EBITDAaL to $8.3 billion, while Cash EPS increased 14% to 25.5 cents.
  • Mobile service Revenue continued to expand across key categories, with the company adding more than 270,000 mobile users during the year.
  • Telstra is continuing to execute its Connected Future 30 strategy, including Investment in 5G infrastructure, network resilience and the Aura Network.
  • The company declared a 10.5 cents per share final dividend and announced a new on-market buy-back of up to $1 billion.
  • Telstra expects FY27 underlying EBITDAaL of $8.5 billion to $8.8 billion, with higher network investment incorporated into the outlook.

Telstra Group (ASX:TLS) has attracted substantial market activity following the release of its FY26 results, with 66,912,520 shares changing hands on 13 August 2026, as investors assessed the company’s Earnings performance, Capital management plans and FY27 guidance. The stock was trading at $4.840, down $0.160 or 3.200%, with a bid/offer range of $4.830 to $4.850.

Telstra’s Market Capitalisation currently stands at approximately $55.69 billion. The elevated trading Volume comes as the telecommunications group reports stronger underlying earnings, a higher Shareholder distribution and a new $1 billion share buy-back, while also outlining further investment under its Connected Future 30 strategy.

FY26 Results Attract Strong Trading Interest

Telstra reported FY26 EBITDAaL of $8.2 billion, representing a 3% increase compared with the previous year. Net profit after tax increased 2.7% to $2.4 billion, while reported Earnings Per Share rose 5.3% to 19.9 cents.

Underlying EBITDAaL provided a stronger result, increasing 4% to $8.3 billion. Cash EPS climbed 14% to 25.5 cents, while underlying return on invested capital improved by 0.5 percentage points to 9%.

The earnings performance was supported by Business momentum, cost discipline and capital management, although Telstra continued to increase spending on its network. Mobile service revenue advanced across major product categories, while the company’s mobile customer base expanded by more than 270,000 users, or 1.9%.

The combination of earnings growth and the company’s latest capital allocation announcements has contributed to heightened attention around TLS, reflected in the substantial trading volume recorded in the stock.

Mobile and Enterprise Performance Adds to Investor Focus

Telstra continued to generate growth in average revenue per user across its mobile product categories, pointing to increased revenue generation across its customer base. EBITDA also improved in Fixed Consumer and Small Business, with cost management supporting the outcome.

The Fixed Enterprise business remains in a restructuring phase as Telstra concentrates more heavily on core connectivity services and portfolio management. Meanwhile, International Wholesale and Enterprise has been repositioned towards digital infrastructure opportunities.

Telstra’s infrastructure operations are also benefiting from growing Demand for connectivity and digital capacity. The company expects rising data requirements, including those associated with artificial intelligence, to support continued demand for digital infrastructure.

These developments provide additional context for the heightened trading activity surrounding the latest TLS update.

Connected Future 30 Investment Keeps Network Expansion in Focus

Telstra continued to advance its Connected Future 30 strategy during FY26, with improvements recorded in customer experience measures. Strategic NPS reached +20, while Episode NPS rose to +49, both representing the highest year-end results since measurement began.

The company also continued its network upgrade program. Nearly 1,200 mobile sites were upgraded with 5G Advanced capability, more than 150 new mobile sites were constructed and over 1,800 sites received backup power upgrades.

Telstra’s digital infrastructure expansion also progressed through the Aura Network. More than 8,500 kilometres of fibre had been installed, with six routes ready for service and the construction program moving beyond its halfway point.

The company has also secured long-term contracts involving Assets such as the Aura Network, subsea cables and long-haul fibre. Strategic investment, including Viasat, is now expected to total approximately $1.8 billion between FY23 and FY28, compared with the previous estimate of around $1.6 billion.

Dividend and Buy-back Plans Add to Market Activity

Telstra’s Board declared a 10.5 cents per share final dividend, taking the total FY26 Dividend to 21 cents per share. The final distribution is 90.5% franked.

The company has also announced a new on-market share buy-back of up to $1 billion. This follows the completion of a previous $1.25 billion buy-back in June 2026.

Telstra said its capital management strategy is being implemented alongside increased Capital Expenditure and continued strategic investment. The company remains focused on generating growth in cash earnings while balancing investment requirements with shareholder returns.

The combination of the dividend announcement, buy-back and FY26 earnings update has added further factors for investors to consider as trading activity remains elevated.

FY27 Outlook Points to Further Earnings Growth

Telstra expects FY27 underlying EBITDAaL to range between $8.5 billion and $8.8 billion.

BAU capital expenditure is forecast at $3.35 billion to $3.65 billion, reflecting increased spending on network investment and capacity. Cash EBIT is expected to fall between $4.75 billion and $4.95 billion, while strategic investment is forecast at $200 million to $300 million.

The outlook incorporates continued productivity and simplification initiatives as Telstra increases its focus on network resilience and capacity. The company has also indicated that the July network outage will influence its approach to future resilience investment.

With FY27 earnings expected to increase further, investors will be weighing the potential benefits of stronger operating performance against the higher capital requirements associated with network expansion.

Conclusion

Telstra (ASX:TLS) has experienced substantial trading activity following its FY26 financial update, with 66,912,520 shares traded as the stock declined 3.200% to $4.840.

The heightened market activity comes despite underlying EBITDAaL increasing 4% to $8.3 billion, Cash EPS rising 14% to 25.5 cents, and the company declaring a 10.5 cents per share final dividend alongside a new $1 billion buy-back.

Telstra is also forecasting FY27 underlying EBITDAaL of $8.5 billion to $8.8 billion, while continuing to invest heavily in network infrastructure, resilience and digital assets. Progress under Connected Future 30, expansion of mobile services and the Aura Network, alongside the company’s capital management program, are likely to remain important areas of investor focus as TLS moves into FY27.