The Telstra Group Ltd (ASX: TLS) share price is marching higher today.
Shares in the the S&P/ASX 200 Index (ASX: XJO) telco closed yesterday trading for $3.95. In early trade on Tuesday shares are swapping hands for $3.98, up 0.6%.
For some context, the ASX 200 is up 0.8% at this same time.
Here's what investors are considering today.
What's happening with the ASX 200 telco?
The Telstra share price is in the green following the company's investor day presentation.
Among the highlights, Telstra said that data demand on its mobile network is growing at an annual rate of more than 30%.
The company said that while satellites will increase in number to complement existing networks, they don't have the capacity to replace mobile in the most service areas. Thus Telstra's mobility and fixed networks are expected to remain central.
Also potentially supporting the Telstra share price today, the company confirmed its FY 2024 financial guidance.
Telstra expects to achieve total income of $22.8 to $24.8 billion with underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of $8.2 to $8.4 billion.
On the expenditure front, Telstra forecasts Capex of $3.6 to $3.7 billion, with free cash flow after lease payments of $2.8 to $3.2 billion.
Today, Telstra also announced it will build five new "major routes" as part of its Intercity Fibre project.
"Connectivity will continue to play a key role in our economy and there is enormous potential for digital technologies to rewrite Australia's growth equation," Telstra CEO Vicki Brady said at the event.
The Intercity Fibre project was first announced in February 2022. Construction started in March 2022, with more than 400 kilometres of cable already having been laid.
The ASX 200 telco said it will also expand on its fibre connections across Western Australia's Pilbara region.
"With over $180 billion of investment coming from mining, oil and gas, clean energy and other sectors, the Pilbara and North West of Australia is set to see significant growth over the coming decade," Brady said.
Telstra share price snapshot
The Telstra share price is up 3% over the past 12 months.
Longer-term, the ASX 200 telco has gained 30% over five years.
