Vodafone 3Q 2020 Revenue Rose 6.8%; Sees Improvement in 4Q
05 Febrero 2020 - 1:47AM
Noticias Dow Jones
By Adria Calatayud
Vodafone Group PLC (VOD.LN) said Wednesday that revenue rose
6.8% in the third quarter of fiscal 2020 and that it expects an
improvement in organic service revenue in the fourth quarter.
The U.K. telecommunications group generated revenue of 11.75
billion euros ($12.98 billion) in the quarter ended Dec. 31
compared with EUR11.00 billion in the year-earlier period, it
said.
Organic service revenue--a key metric which tracks sales of
telecom services--was up 0.8% in the quarter, with a 1.4% fall in
Europe and a 9.1% increase in the rest of the world, Vodafone
said.
"We expect a further gradual improvement in service revenue
growth in [the fourth quarter], led by Europe," Chief Executive
Nick Read said.
For the year ending March 31, Vodafone reiterated its guidance
of adjusted earnings before interest, taxes, depreciation and
amortization of between EUR14.8 billion and EUR15.0 billion and
free cash flow of around EUR5.4 billion.
The company said it is on track to launch its European tower
company by May, and that it is preparing for a potential initial
public offering in 2021.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 05, 2020 02:32 ET (07:32 GMT)
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