Vodafone Group Plc: Q3 Service Revenue Growth At 1.8%; Europe Slowing As Expected

Vodafone Group Plc (VOD.L,VOD) reported third quarter total revenue of 11.64 billion euros compared to 11.68 billion euros, previous year. Organic growth in total revenue was 2.7%, for the quarter. Third quarter service revenue was 9.52 billion euros compared to 9.65 billion euros, prior year. Organic growth in service revenue was 1.8%, for the third quarter. Group service revenue growth, excluding Turkey, was 0.5%. The slowdown in quarterly trend in service revenue growth was driven by Europe, Vodafone noted.

Looking forward, Vodafone Group Plc is continuing to target updated fiscal 2023 guidance: adjusted EBITDAaL of 15.0 - 15.2 billion euros, and adjusted FCF of approximately 5.1 billion euros.

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