UPDATE: Vodafone Reports 3.2% Increase In Revenue

Vodafone Group PLC VOD reported a 3.2% rise in its revenue for the fiscal year ended March 31 and issued upbeat projections for 2012. The company reported its fiscal year revenue at 45.9 billion pounds ($74.45 billion), versus analysts' estimates of 45.5 billion pounds. Its core earnings dropped 0.4% to 14.7 billion pounds, versus analysts' estimates of 14.69 billion pounds. The company's free cash flow came in at the top of the range at 7.05 billion pounds, versus estimates of 6.7 billion pounds. The company's Q4 service revenue was ahead of estimates, up 2.5% on an organic basis. European organic service revenue dropped 0.4% during the year, versus a decline of 3.8% last year. Vodafone projects fiscal 2012 adjusted operating profit of 11 billion pounds to 11.8 billion pounds. Vodafone shares fell 0.59% to close at $27.18 yesterday.