Vodafone Clocks ~2% Revenue Growth In Q1 Driven By Europe, Africa; Reiterates FY23 Guidance

  • Vodafone Group Plc VOD reported first-quarter FY23 revenue growth of 1.6% year-on-year to €11.28 billion, mainly driven by service revenue growth in Europe and Africa. The organic revenue growth was 2.7% Y/Y.
  • The service revenue grew 1.3% Y/Y to €9.51 billion. The organic service revenue growth was 2.5% Y/Y.
  • Europe Consumer contract mobile ARPU grew by 0.7% Y/Y.
  • Vodafone Business service revenue grew by 1.7% Y/Y, driven by higher roaming and digital services revenue.
  • Growth in Africa was supported by data revenue and financial services growth thanks to M-Pesa customer base growth.
  • Service revenue in Turkey increased to 35.8%Y/Y, driven by higher inflation. 
  • Outlook: Vodafone reiterated its FY23 Adjusted EBITDAaL forecast of €15 billion – €15.5 billion and Adjusted free cash flow of €5.3 billion.
  • Price Action: VOD shares traded higher by 0.26% at $15.46 in the premarket on the last check Monday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!