Vodafone's Third-Quarter Revenue Falls 3.9%
February 02 2017 - 2:58AM
Dow Jones News
By Stu Woo
LONDON--Vodafone Group PLC (VOD) said Thursday that
third-quarter revenue dropped 3.9% to 13.7 billion euros ($14.78
billion) from the same period a year earlier, but that its organic
revenue, which excludes the effects of foreign exchange, from
selling telecommunications services grew 1.7%.
The British telecommunications giant said that organic revenue
growth in India dropped 1.9% because of competition from new mobile
operator Reliance Jio Infocomm Ltd., which has been offering free
data services as a promotion. Vodafone on Thursday didn't reveal
any more information about its discussions, which it announced
Monday, to merge its India unit with rival Idea Cellular Ltd.
Vodafone confirmed its outlook for the year, saying it expected
to meet the lower end of its forecast for earnings before interest,
taxes, depreciation and amortization.
-Write to Stu Woo at stu.woo@wsj.com
(END) Dow Jones Newswires
February 02, 2017 02:43 ET (07:43 GMT)
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