Investing.com - Vodafone Group reported better-than-expected first-half earnings on Tuesday, despite posting a 4.1% decline in core profit.
Earlier in the day, in its first-half earnings report, Vodafone said core profit totaled GBP6.6 billion, above expectations for GBP6.4 billion. Net profit in the six months to September 30 came in at GBP17.95 billion
First-half revenue rose 1.2% from a year earlier to GBP22.03 billion, above expectations for GBP21.8 billion.
The company confirmed its full-year guidance for adjusted operating profit of GBP5 billion and free cash flow in the GBP4.5 billion–GBP5 billion range.
The company said it plans to invest GBP7 billion by March 2016 to improve its existing 3G network in Europe and to accelerate the building of its super-fast 4G network.
Immediately after the earnings announcement, Vodafone shares dipped 0.4% in London.
Meanwhile, European stock markets remained lower. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 declined 0.15%, France’s CAC 40 slumped 0.15%, while Germany's DAX inched down 0.1%.
Earlier in the day, in its first-half earnings report, Vodafone said core profit totaled GBP6.6 billion, above expectations for GBP6.4 billion. Net profit in the six months to September 30 came in at GBP17.95 billion
First-half revenue rose 1.2% from a year earlier to GBP22.03 billion, above expectations for GBP21.8 billion.
The company confirmed its full-year guidance for adjusted operating profit of GBP5 billion and free cash flow in the GBP4.5 billion–GBP5 billion range.
The company said it plans to invest GBP7 billion by March 2016 to improve its existing 3G network in Europe and to accelerate the building of its super-fast 4G network.
Immediately after the earnings announcement, Vodafone shares dipped 0.4% in London.
Meanwhile, European stock markets remained lower. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 declined 0.15%, France’s CAC 40 slumped 0.15%, while Germany's DAX inched down 0.1%.