Vodafone beats estimates on European recovery

Vodafone beats estimates on European recovery
Like-for-like measure of its core business accelerated to 1.2 per cent in Q2 Credit: Getty

Company forecasts annual Ebitda of up to £12 billion

Vodafone Group reported service revenue that rose more than analysts estimated as European markets recovered.

The mobile giant said growth in organic service revenue, the like-for-like measure of its core business, accelerated to 1.2 per cent in the second quarter, from 0.8 per cent in the first.

It meant an overall increase of 1 per cent in the first half, to £18.4 billlion, the first consistent growth after years of decline.

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