Telstra Profit Drops as Users Switch to Cellphones and Web
A Bloomberg News article, via The International Herald Tribune, reports that:
The telephone company Telstra said on Thursday that first-half profit fell 11 percent as customers abandoned its fixed-line business for cheaper cellphones and Internet services.
The chief executive officer, Sol Trujillo, affirmed his forecast that full-year pretax profit would be down as much as 26 percent on costs of eliminating jobs and on declining home-phone usage. Telstra shares have lost 20 percent since Trujillo, a former US West chief executive, started in July, forcing the government to lower the amount it expects to receive for selling its remaining stake.
posted by Fergie @ 2/09/2006 07:47:00 AM
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