The only way is up, page-7

My predictions for the results:
- very heavy emphasis on "future" 5G revenues, with zero profit/cash today ... other than the capital expense of setting it up
- financial performance at the bottom range or below targets - watch the cashflow statement and any on-off  or capitalised items in the P&L and Notes
 - cost cutting efforts to be tracking below targets
- Penn to be replaced by the end of the year
- dividend to be maintained in the very short term but not by 2020.... investors to be placed on notice that it will "possibly" (read: definitely) be cut in the near future

One light on the horizon is that if Labor wins the election (most likely), they are likely to write down the NBN, meaning that the required NBN Co ROI will reduce, hence a lower wholesale rate for NBN - which means more profit to all NBN retailers - Telstra being the biggest (I think).

I am currently shorting and hoping the dividend cut occurs before the likely Labor announcement ... will then load up as this will be a good value play if the share price falls significantly from here - say to $2.5.

All of the above is 100% speculation on my part. DYOR.