Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 69.82
Bid: 69.81
Ask: 69.84
Change: 0.40 (0.58%)
Spread: 0.03 (0.043%)
Open: 69.96
High: 70.30
Low: 69.74
Prev. Close: 69.42
VOD Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-Vodafone shares jump as new offerings prompt improved outlook

Tue, 11th Nov 2014 16:46

* Q2 Organic service revenue down 1.5 percent

* Compares with near 4 or 5 pct falls in the last sixquarters

* Beats consensus expectation of 2.8 pct fall

* To offer retail broadband and TV in Britain

* Shares up 6 percent, hit highest in six months (Adds details, link to Breakingviews comment)

By Kate Holton

LONDON, Nov 11 (Reuters) - Vodafone, the world'ssecond-biggest mobile operator, nudged up its full-year earningsforecast on Tuesday as improving demand in its big Europeanmarkets and an investment push into new products helped reduce adrop in revenue.

Faced with increased competition from entertainment groupsand fixed-line providers, Vodafone also said it plans to launcha broadband and TV service in its British home market to competewith rivals who offer a wider range of products.

The improvement in trading, which sparked hopes of a returnto growth in its key revenue measurement by early next yearafter more than two years of falls, sent its shares up 6 percentto a six-month high.

"There is growing evidence of stabilisation in a number ofour European markets," said Chief Executive Vittorio Colao. "Ourtwo-year, 19 billion pound investment programme is well underwayand customers are beginning to see the benefits."

Vodafone has embarked on a programme to either build or buysuperfast fixed-line broadband networks across Europe, to enableit to compete with rivals offering mobile contracts alongsidetelevision, broadband or fixed-line deals.

Vodafone said it would launch a consumer broadband offeringwith a TV package in Britain supported by its Cable & Wirelessfibre network which it currently offers to corporate customers.The additional services will help it to compete with BT which is due to launch a consumer mobile service next year.

Vodafone said it was not looking to spark a price war in itshighly competitive home market but to defend its position andkeep hold of existing customers.

DATA TRAFFIC

Analysts said the move into more services such as fixed-linetelephony, TV and faster 4G mobile had helped the overallresults. Customers signing up to faster 4G mobile services werewilling to pay for bigger packages, with data traffic up 80percent, while demand for 3G in India boosted results there.

The update echoes Dutch rival KPN, which in Octobershowed revenue and profit falling at a slower than expected paceas its strategy of investing in faster networks bore fruit.

Analysts at Hargreaves Lansdown said the outlook forVodafone was more positive than for some time.

"The increased use of data services, particularly in theupgrade from 3G to 4G, is supportive and there is still muchheadway for growth as those networks roll out in the key Indianmarket and Europe respectively," they said.

Vodafone reported second-quarter organic service revenue,which strips out items like handset sales and currencymovements, down 1.5 percent, compared with near 4 or 5 percentfalls it recorded in the last six quarters. It also beat theconsensus expectation of a fall of 2.8 percent.

It now expects full-year core earnings to be between 11.6billion pounds and 11.9 billion, compared with previous guidanceof 11.4 billion to 11.9 billion. (Editing by Clara Ferreira Marques and David Holmes)

More News
27 Mar 2024 09:40

LONDON BROKER RATINGS: Sainsbury's, Petershill Partners upped to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
26 Mar 2024 11:21

Vodafone Germany to cut 2,000 jobs in revamp

FRANKFURT, March 26 (Reuters) - Vodafone Germany aims to save around 400 million euros ($434.48 million) over the next two years as part of a restructuring that will hit some 2,000 jobs, the company said on Tuesday.

Read more
26 Mar 2024 11:15

UPDATE: Vodafone Germany cuts 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Dusseldorf, Germany-based subsidiary of Vodafone Group PLC announced on Tuesday.

Read more
26 Mar 2024 10:43

Vodafone Germany: 400-mln-eur restructuring to affect 2,000 jobs

BERLIN, March 26 (Reuters) - Vodafone Germany said on Tuesday that it aims to save around 400 million euros ($434.48 million) over the next two years as part of a transformation programme that will affect some 2,000 jobs.

Read more
26 Mar 2024 10:42

Vodafone Germany cutting 2,000 jobs as part of savings programme

(Alliance News) - Vodafone GmbH is cutting and relocating around 2,000 jobs in a bid to save EUR400 million in the next two years, the Germany, Dusseldorf-based subsidiary of Vodafone Group PLC announced Tuesday.

Read more
22 Mar 2024 16:09

London close: Stocks mixed as Bailey hints at rate cuts

(Sharecast News) - London's stock markets closed in a mixed state on Friday as investors weighed optimistic retail sales data against remarks from Bank of England Governor Andrew Bailey.

Read more
22 Mar 2024 11:46

LONDON MARKET MIDDAY: FTSE 100 boosted after week of rate decisions

(Alliance News) - The FTSE 100 in London were higher at midday on Friday, as investor sentiment remained high, after there were no surprises from UK and US central banks this week.

Read more
22 Mar 2024 09:19

TOP NEWS: UK CMA says Vodafone/Three merger raises competition worries

(Alliance News) - The UK Competition & Markets authority on Friday said a planned merger between Vodafone UK and Three UK could raise consumer prices and harm investment into UK mobile networks.

Read more
22 Mar 2024 07:32

CMA warns Vodafone, Three deal will face full probe if solutions not given

(Sharecast News) - Vodafone and Three UK have been told to find ways to assuage Britain's competition regulator that their planned $19bn merger would not leave consumers worse off or face a full investigation.

Read more
18 Mar 2024 16:23

Director dealings: Vodafone CFO makes share purchase

(Sharecast News) - Vodafone Group revealed on Monday that chief financial officer Luka Mucic had acquired 2.46m ordinary shares in the FTSE 100-listed telecommunications giant.

Read more
18 Mar 2024 09:39

IN BRIEF: Vodafone CFO buys 2.5 million shares for GBP1.7 million

Vodafone Group PLC - Berkshire, England-based telecommunications provider - Group Chief Financial Officer Luka Mucic purchased 2.5 million shares on Friday in London at 69.64 pence each for GBP1.7 million in total. Vodafone also on Friday announced the sale of its Italian business to Swisscom AG for EUR8 billion, with EUR4 billion to be returned to shareholders through a buyback. It said, however, that annual dividends from financial 2025 onwards will be rebased to 4.5 euro cents, down from 9.00 cents for financial 2024.

Read more
15 Mar 2024 16:55

LONDON MARKET CLOSE: FTSE closes in red; Reckitt plunges on lawsuit

(Alliance News) - The FTSE 100 in London closed lower on Friday, ahead of a busy week for interest rate decisions.

Read more
15 Mar 2024 15:07

London close: Stocks finish mixed after Reckitt compo blow

(Sharecast News) - London's equity markets finished in a mixed state at the end of a quiet trading session on Friday, after another hotter-than-expected US inflation reading overnight.

Read more
15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

(Alliance News) - London's FTSE 100 overcame a muted morning to head into Friday afternoon on the up, though its progress was shy of the loftier gains seen by mainland European peers, as investors showed some signs of trepidation ahead of a pair of interest rate decisions next week.

Read more
15 Mar 2024 09:25

Vodafone Germany makes surprise chief executive change

(Alliance News) - The head of telecommunications provider Vodafone Germany, Philipp Rogge, has announced plans to leave the company at the end of the month in a surprise move after less than two years at the helm.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.