Vodafone Group Q3 revenue drops to £11 billion

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Overall revenues in the UK also fell annually from £1.7 billion to £1.4 billion in the quarter

Vodafone Group’s Q3 financials have seen an annual drop of 3.9 per cent from £12 billion to £11 billion.

European revenue for the three months ending December 31 last year fell from £7.9 billion to £7.4 billion, whilst Africa, the Middle East and Asia Pacific stayed relatively flat at £3.8 billion. The decline follows a decrease in the first half of the operator’s financial year which saw overall revenue drop 3.9 per cent from £24 billion to £23 billion.

The UK also saw annual declines from £1.7 billion to £1.4 billion in the same period. Vodafone claims it added 99,000 contract customers in the quarter, with the total number of 4G subscribers standing at 9.1 million.

Vodafone Group CEO Vittorio Colao said: “Our overall performance in Europe and Africa remained strong during the third quarter, reflecting good execution. In Europe, service revenue growth continued, led by Italy, Germany and Spain.

“Mobile contract ARPU continued to stabilise, reflecting the successful adoption of our ‘more-for-more’ propositions, while we remain Europe’s fastest growing broadband company, illustrating our effective convergence strategy.

“In the UK we have made good progress in improving customer service but face heightened price competition in Enterprise.”

 

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