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Telstra Stock Slips as A$1 Billion Buyback Meets Profit Miss
This article first appeared on GuruFocus. Telstra Group (TLGPY), Australia's largest telecommunications provider, slipped 0.5% in Thursday's early Australian trading. The market's message was pretty clear: another giant buyback was not enough. Telstra unveiled a fresh A$1 billion repurchase program, but annual attributable profit of A$2.24 billion came in below the A$2.30 billion Visible Alpha consensus cited by …