Vodafone Backs Full-Year Guidance as 1Q Revenue Falls
25 Julio 2018 - 01:49AM
Noticias Dow Jones
By Adria Calatayud
Vodafone Group PLC (VOD.LN) on Wednesday backed its guidance for
fiscal 2019, after first-quarter revenue fell 4.9% due to currency
headwinds and the adoption of new accounting standards.
Revenue for the quarter ended June 30 was 10.91 billion euros
($12.75 billion) compared with EUR11.47 billion in the year-earlier
period, the London-based telecommunications company said. This
reflected the adoption of new IFRS 15 accounting standards, as well
as foreign-exchange headwinds, the company said.
Vodafone said strong performance in Germany and a recovery in
the U.K., coupled with continued growth in its Africa, Middle East
and Asia Pacific region helped to offset increased competition in
Italy and Spain.
Quarterly organic service revenue--a figure which is closely
watched by analysts--increased 1.1% based on IFRS 15 accounting
standards, Vodafone said. Based on the previous accounting
measures, organic service revenue rose 0.3% in the first quarter,
the company said.
Vodafone confirmed that it continues to expect adjusted earnings
before interest, taxes, depreciation, and amortization to grow
between 1% and 5% on an underlying basis in the year ending March
31, 2019.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
July 25, 2018 02:34 ET (06:34 GMT)
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