Vodafone 3Q Revenue Falls 3.6%
By Adria Calatayud
Vodafone Group PLC (VOD.LN) said Thursday that revenue for the third quarter of fiscal 2018 fell 3.6%, but added that its comparable revenue from selling telecommunications services increased.
For the three months ended Dec. 31, Vodafone said revenue was 11.80 billion euros ($14.67 billion), down from EUR12.24 billion a year earlier, it said. The British telecommunications company said the revenue decline was due to the deconsolidation of its Netherlands business and currency movements.
Organic service revenue--a figure that excludes the effects of acquisitions and foreign exchange movements and is closely watched by Vodafone--grew 1.1% on year, the company said.
Vodafone's European segment--where it generates about two thirds of its revenue--experienced a 2.8% fall in revenue for the third quarter, the company said. In Africa, the Middle East and Asia Pacific, Vodafone's revenue decreased by 5.6%.
The company reiterated its guidance for fiscal 2018, and continues to expect full-year earnings before interest, taxes, depreciation and amortization to grow organically by around 10%, with free cash flow of more than EUR5 billion.
Write to Adria Calatayud at firstname.lastname@example.org
(END) Dow Jones Newswires
February 01, 2018 02:40 ET (07:40 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.