Vodafone increases its earnings guidance
The company benefits from the sale of its New Zealand operations and acquisition of certain Liberty Global PLC assets in Europe
Stocks impacted: Vodafone Group PLC (VOD)
The world’s second-largest mobile operator lifted its full-year earnings guidance, citing the improving organic growth trends, in part due to easing difficulties in the Spanish and Italian markets. Organic core earnings rose 1.4 per cent in the half, and the operator said its growth rate would accelerate in the second half. Revenue for the first half was up 0.4% at 21.94 billion euro. Vodafone now expects adjusted earnings before interest, taxes, depreciation and amortization between 14.8 billion and 15.0 billion euros for the year ending March 31, 2020. This implies organic growth for the full year of between 2% and 3%. in its statement, the company noted that it is benefitting from the sale of its New Zealand operations and acquisition of certain Liberty Global PLC assets in Europe.
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