Australia's Telstra FY profit jumps 14 pct, share buyback announced

SYDNEY Wed Aug 13, 2014 6:28pm EDT

SYDNEY Aug 14 (Reuters) - Telstra Corp. Ltd, Australia's largest telco, reported a 14.3 percent rise in annual net profit on Thursday, beating analyst expectations, and announced an A$1 billion ($930.1 million) share buyback.

The company said net profit was A$4.275 billion for the year to June 30, compared with A$3.74 billion a year ago and a A$4.13 billion Reuters Starmine SmartEstimates forecast based on 11 analysts. Revenue rose 3.5 percent to A$25.3 billion.

Telstra said it expected revenue and EBITDA for the current financial year to be flat.

(1 US dollar = 1.0752 Australian dollar) (Reporting by Byron Kaye and Jane Wardell; Editing by David Gregorio)

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