Shares of Telstra Corporation Ltd (ASX: TLS) drifted mostly flat during afternoon trade on Thursday despite the telecommunications heavyweight hinting at robust revenue growth for the full year.
Upon releasing its 2015 half-year results in February, Telstra said growth in revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) would be in the low-single digits over the full 2015 financial year.
However as highlighted in the group's investor day presentation released this morning, Telstra's mobiles and fixed data division have been continuing to notch-up impressive revenue growth.
Top line growth from these divisions was respectively 9.6% and 7.8% higher than the prior corresponding period in 2014.
As two of the telco's main drivers of earnings, it bodes well for its final result due to be released on 13 August 2015.
Should you buy Telstra shares today?
Telstra shares had run hard over the past three years, as investors scrambled to buy reliable blue-chip stocks offering quality dividend yields in a low interest rate environment.
Whilst many financial commentators continue to believe the 'search for yield' is ongoing, savvy investors should be cautious of overpaying for stocks.
Indeed whilst there's a good chance Telstra could surprise to the upside when it reports full-year results in August, investors in the $76 billion company appear to have already priced in bullish growth forecasts.
Personally, whilst I'm enthused by its expansion into Asia, I suggest investors hold off buying shares until we see a meaningful pullback in price.
