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Vodafone, the world’s second largest mobile operator, reported better-than-expected 2.2 per cent revenue growth in its first quarter, reflecting a robust performance in Italy and Spain and an acceleration in demand in Turkey.
It said the increase in organic service revenue, which beat analysts’ consensus forecast for a 1.6 per cent rise, boosted its confidence in its prospects for the full year, when it expects to grow core earnings by four to eight per cent.
“We made a good start to the year with a robust commercial momentum in Europe and accelerating growth in AMAP (Africa, Middle East and Asia Pacific),” Chief Executive Vittorio Colao said on Friday.
