Telstra Group Ltd's stock soared 5.04% during intraday trading on Thursday, following the release of its first-half financial results.

The Australian telecommunications company reported a 9.4% rise in half-year profit attributable to equity holders, reaching AUD 1.12 billion, which surpassed market expectations. The company's mobile business, its primary revenue driver, reported income of AUD 5.77 billion, supported by customer growth and higher plan prices.

In a move welcomed by investors, Telstra announced an increase to its on-market share buyback program, raising the ceiling from AUD 1 billion to up to AUD 1.25 billion. The company also declared a higher interim dividend of 10.5 Australian cents per share, up from 9.5 cents a year earlier. Additionally, management tightened its full-year underlying EBITDA after lease amortisation guidance to a range of AUD 8.2 billion to AUD 8.4 billion, signaling confidence in its financial outlook.