The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Vodafone Group Plc beat estimates and expects sales to recover from a first half when Covid-19 lockdowns sent mobile roaming income tumbling.
Vodafone’s organic service revenue fell 0.4% in the financial second quarter that ended on September 30, better than the 2.3% average estimate of analysts compiled by Bloomberg.
Europe’s second-biggest phone company nudged up its outlook, seeing full-year adjusted earnings before interest, tax, depreciation and amortisation between $17.1 billion to $17.3 billion, versus previous guidance of “flat to slightly down†on last year’s re-based total of 14.5 billion euros.
Investors are focussed on proceeds from an expected initial public offering of Vantage Towers, the mobile mast unit spun out from Vodafone that could be one of the biggest European IPOs of 2021.