June 20 (Reuters) - Australia's biggest telecommunications company Telstra Corp Ltd TLS.AX on Wednesday said it aimed to reduce costs by A$2.5 billion ($1.84 billion) by fiscal 2022, and announced making its infrastructure assets a standalone unit.
Telstra said it expects fiscal 2019 core earnings between A$8.7 billion and A$9.4 billion, excluding restructuring costs of approximately A$600 million.
Telstra has seen rising competition squeeze its mobile margins and fixed-line revenue dwindle, leading to a narrowing of its earnings forecast for the current financial year as of May and a warning that challenging conditions were expected to extend into 2019. ($1 = 1.3559 Australian dollars)