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Vodafone Q3 2010/11 results: MTR cuts bite, and perhaps the snow too, but otherwise steady - Venture Insights

Report Overview

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Vodafone Q3 2010/11 results: MTR cuts bite, and perhaps the snow too, but otherwise steady

PublisherEnders Analysis.
Publish Date February 4, 2011
Sector Fixed Line (Internet and Voice), Mobile and Wireless Technology.
Company vodafone.

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Vodafone Europe’s revenue growth was broadly flat in the December quarter at 0.2%, but MTR cuts in Germany meant that underlying growth improved by 0.4ppts

Given flat economic growth in its key markets and the cold weather effect, this is a very respectable result, albeit not in line the company’s confident guidance given three months ago

With more severe MTR cuts scheduled over the coming quarters, and GDP growth forecast to not improve, revenue growth is more likely to decline than rise over the coming year