Friday, July 19, 2013
Europe Drags Down Vodafone
Vodafone said its group organic service revenue fell 3.5% in the quarter ending June 30th to 10.16 billion pounds (15.5 billion U.S. dollars). Service revenue fell in Germany (-5.1%), the U.K. (-4.5%), Italy (-17.6%) and Spain (-10.6%), but rose 13.8% in India. Vodafone also reported that it has upgraded almost half its base stations in Europe to support peak data speeds of 43Mbps, up from 16% a year ago, as data traffic on its networks climbed 60% year-on-year.
Vittorio Colao, CEO, said: “We have made a good start to the year in our areas of strategic focus: growth in emerging markets has accelerated, we now have over 5 million customers benefiting from Vodafone Red, and 4G is live in ten markets. In addition, the proposed acquisition of Kabel Deutschland will create an excellent platform for our unified communications strategy in our most important market. Although regulation, competitive pressures and weak economies, particularly in Southern Europe, continue to restrict revenue growth, we continue to lay strong foundations for the longer term.” source: Vodafone presentation
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