Vodafone revenue grows 2.7% to €11.63 bn in Dec quarter

Vodafone Group, one of the leading telecom operators in the world, has reported 2.7 percent increase in revenue to €11.638 billion in the December quarter of 2022.
Vodafone earnings report December 2022Vodafone said service revenue rose 1.8 percent to €9.520 billion in December quarter as compared with 2.5 percent increase in the previous quarter.

Vodafone has generated quarterly revenue of €3.347 billion (–1.8 percent) in Germany, €1.224 billion (–3.3 percent) in Italy, €1.75 billion (+5.3 percent) in the UK, €971 million (–8.7 percent) in Spain, €1.489 billion (+2.1 percent) in other Europe, €1.614 billion (+3.5 percent) from Vodacom, €938 million (+34 percent) from other markets and €329 million from telecom tower business Vantage.

Vodafone chief executive Margherita Della Valle, who stepped up after Nick Read resigned in December, kept full-year guidance unchanged, but said the recent decline in revenue in Europe showed Vodafone could do better.

“We’ve already taken action, including simplifying our structure to give local markets full autonomy and accountability to make the best commercial decisions for their customers,” she said on Wednesday.

Vodafone did not reveal its 5G coverage and 5G investment during the December quarter.