Vodafone sales trail estimates

Vodafone reported first-quarter service revenue that trailed analysts’ estimates as consumers and companies in Spain and Italy cut spending.

20th July, 2012
Vodafone sales trail estimates
“Looking out, it’s difficult to be hugely optimistic about the near term changes in things,” said Vodafone's chief financial officer.

Vodafone Group, Europe’s largest mobile-phone company, reported first-quarter service revenue that trailed analysts’ estimates as consumers and companies in Spain and Italy cut spending.

Service revenue, excluding currency swings and acquisitions, gained 0.6 per cent in the three months ended June 30th, the company said today. Analysts had predicted growth of 0.8 per cent, according to the average of estimates in a Bloomberg survey. Total sales fell 7.7 per cent to £10.77...

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