Vodafone Q1 organic service revenue grew 0.8 percent
Vodafone has been hit hard by the constraints on consumer spending in its big European markets, fierce competition in India and by regulator-imposed price cuts around the world.
Vodafone said first-quarter organic service revenue grew 0.8 percent, ahead of the 0.1 percent it recorded in the previous three months. That was slightly ahead of forecasts, with analysts expecting growth of around 0.5 percent.
"Our emerging markets have maintained their strong momentum and more of our European businesses are returning to growth, as customer demand for 4G and data takes off," chief executive officer Vittorio Colao said.
Sales in Germany, where Vodafone is battling against the incumbent Deutsche Telekom, were down 1.2 percent, compared with the 3.5 percent fall in Q4, but that was helped by the inclusion of its Kabel Deutschland TV business.
Vodafone's British market also returned to growth while Italy also showed signs of stabilising. ■