Seeking Alpha

Vodafone FQ3 revenue falls but beats forecasts

  • Vodafone (VOD) FQ3 revenue dropped 3.6% to £10.98B but topped consensus of £10.86B ($17.91B) .
  • Organic group service revenue -4.8%. In Europe, where Vodafone said conditions "are still difficult," sales dropped 9.6%, with Germany -7.9%, the U.K. -5.1% and Italy -16.6%. In Africa, Middle East & Asia Pacific, the figure rose 5.5%.
  • Revenue was hurt by price competition in Germany and the U.K., as well as by weak southern European markets.
  • However, the company said "the shift to 4G is gaining momentum," so it's optimistic that its "revenue performance will begin to improve."
  • Vodafone reiterated its fiscal-year guidance for adjusted operating profit of £5B and free cash flow of £4.5-5B.
  • The company didn't disclose profit figures.
  • Shares are +1.5% in London. (PR)
Comments (2)
  • Veritas1010
    , contributor
    Comments (1596) | Send Message
     
    It really gives one a moment of pause to consider what VOD is going to do not only to staunch the long-term hemorrhaging in Europe, but maybe more importantly replacing its cash cow that it just sold to Verizon Wireless through the process of VZ's relentless bullying, (which worked nicely by the way)?

     

    And who said being a thug doesn't have its benifits in life...
    6 Feb 2014, 11:13 AM Reply Like
  • notta lackey
    , contributor
    Comments (131) | Send Message
     
    I don't understand the thug comments. On any metric, VOD got a fair price.
    7 Feb 2014, 09:17 PM Reply Like
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