Telstra eyes $4.84bn profit

Telstra Corp expects to post a full-year net profit above $A4 billion ($4.84 billion) on Wednesday, as analysts watch for any writedowns or sales of its tech investments.

Analysts expect a result between $A3.73 billion and $A4 billion.

They have been waiting for Telstra to make cost-cutting initiatives, in a bid to convince investors that the telco is a growth company.

Telstra's share price has been under pressure in the lead-up to the announcement.

The shares closed 11c higher yesterday at $A4.92 but on Thursday they hit a three-year low of $A4.80.

Analyst Paul Budde said Telstra's share price would remain under pressure until strong initiatives were taken. "They [investors] want chief executive Ziggy [Switkowski] to make some bold statements and show leadership."