Home / Markets / Industries / Telecom

Tuesday, November 11, 2008

Vodafone Cuts Sales Outlook As Quarterly Profit Falls 35%

Aude Lagorce

MarketWatch Pulse

LONDON -- Vodafone Group , the world's largest mobile operator by sales, on Tuesday said second-quarter net income fell 35% to 2.14 billion pounds, or 4.02 pence a share, from 3.29 billion pounds, or 6.19 pence a share, earned in the year-earlier period. Profit in the latest quarter was hit by an impairment loss of 1.7 billion-pound impairment related to the group's Turkish business. Excluding one-time items, adjusted earnings came in at 7.52 pence a share, up 17% from a year earlier. Sales rose 17% to 19.9 billion pounds. The company also lowered its outlook for the year. It now expects revenue in the range of 38.8 billion pounds to 39.7 billion pounds, instead of its previous forecast of around 39.8 billion pounds, and adjusted operating profit of 11 billion pounds to 11.5 billion pounds. It also launched a one-billion pound cost reduction program and lifted its interim dividend by 3.2% to 2.57 pence a share.

Fox Business Video

- AIG Bonus Approval
- Jul 11, 2009
  
  AIG Bonuses
- Power Rankings: Where are They Now?
- Jul 11, 2009
  
  07/10/09
- Macrellus Willey: Life After F...
- Jul 11, 2009
  
  Wiley on Networking Site
- When a Dome Becomes a Home
- Jul 10, 2009
  
  Kubley on Dome Homes
- Helping Small Business
- Jul 10, 2009
  
  Yancey on Volunteer Work

FOX Translator

Indices

No data currently available.

Top Stock Gainers

No data currently available.

Most Searched Symbols

SYMBOL

SANM
VZ
UPS
T
HD

Word of the Day

Specialist

A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.

The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.

Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.

Specialists make money off the "spread," which is the difference between bid and ask prices on orders.