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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Tuesday, May 21, 2013

Vodafone's Revenue Fall Accelerates

Vodafone said its group revenue fell by 4.1% year-on-year on an organic basis in the quarter ending March 31 to 11.28 billion British pounds (17.12 billion US dollars). Revenue was down 1.8% in the previous quarter on the same basis. In the quarter ending March 31, group voice revenue was down 8.5% and messaging revenue down 10.2%, while data revenue climbed 11.9%. Vodafone said it saw mobile usage of Facebook rise 300% in the year to March 31.

Still, Vittorio Colao, Group Chief Executive, was upbeat, saying“I remain very excited about our longer term prospects, as customer appetite for high speed data grows rapidly, and companies look to embed mobility into their corporate strategies. The launch of Vodafone Red has been very successful, providing a solid underpinning for future revenue as customers take advantage of the best of the Vodafone experience. Our new targets for high speed mobile network coverage, announced today, combined with our growing capabilities in next generation fixed line access, strengthen our Vodafone 2015 strategy." source: Vodafone statement 

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