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Vodafone Reports Profits

Vodafone Reports ProfitsVodafone Reports Profits

Global cellphone operator Vodafone reported a better-than-expected 2.2% rise in first-quarter organic service revenue, marking an eighth consecutive quarterly rise in its main growth measure, aided by a strong performance in Spain and Germany. The world’s second-largest mobile operator confirmed its outlook for the full year on Friday, saying its European markets, which only returned to growth in the final quarter of 2015-16, were stable, with growth of 0.3% despite the impact of cuts in roaming charges, Reuters reported. Analysts had predicted a flat result in Europe. Faster growing markets in Africa, Middle East and Asia-Pacific grew by 7.7% in the three months to end-June, beating analyst forecasts of a 7% rise. Chief Executive Vittorio Colao said the group was making good progress. Vodafone has switched to reporting in euros from pounds, reflecting the relatively bigger size of its combined eurozone businesses.

 

Financialtribune.com