Vodafone Reports Drop in 1Q Revenue, Reiterates Fiscal Year Outlook

By Tapan Panchal Features Dow Jones Newswires

Vodafone Group PLC (VOD.LN) Friday reiterated its earnings outlook for the full year, as it reported a 3.3% drop in quarterly revenue.

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The mobile phone operator recorded revenue of 11.47 billion euros ($13.27 billion) for the quarter ended June 30, down from EUR11.87 billion in the same period a year earlier. The drop in first-quarter revenue reflected the negative impact of foreign-exchange rate movements and de-consolidation of Vodafone Netherlands.

Service revenue for the period fell 4.6% to EUR10.28 billion. On an organic basis, service revenue increased 2.2%.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

July 21, 2017 02:38 ET (06:38 GMT)