Vodafone Group Plc: Q3 Service Revenue Growth At 1.8%; Europe Slowing As Expected

(RTTNews) - Vodafone Group Plc (VOD.L, VOD) reported third quarter total revenue of 11.64 billion euros compared to 11.68 billion euros, previous year. Organic growth in total revenue was 2.7%, for the quarter. Third quarter service revenue was 9.52 billion euros compared to 9.65 billion euros, prior year. Organic growth in service revenue was 1.8%, for the third quarter. Group service revenue growth, excluding Turkey, was 0.5%. The slowdown in quarterly trend in service revenue growth was driven by Europe, Vodafone noted.

Looking forward, Vodafone Group Plc is continuing to target updated fiscal 2023 guidance: adjusted EBITDAaL of 15.0 - 15.2 billion euros, and adjusted FCF of approximately 5.1 billion euros.

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