2023-11-14 18:30:31
Positive quarterly results
The company expects its adjusted earnings before interest, taxes, depreciation and amortization following lease to stabilize at 13.3 billion euros ($14.2 billion) in the fiscal year that will end in March 2024. This compares to analysts’ expectations of 13.2 billion euros, according to the average estimates compiled by Bloomberg. The company also confirmed its dividend distribution.
Vodacom’s revenues rise by more than a third thanks to the Vodafone Egypt deal
Vodafone’s profits come following a relatively positive quarter for its largest competitor, with Orange’s profits rising, Telefonka developing a plan that will last for years to increase profits, and Deutsche Telekom AG, which owns a majority stake in T-Mobile, raising profits. U.S. earnings forecast.
Last Monday, Vodacom Group Ltd, the African subsidiary in which Vodafone holds a majority stake, announced first-quarter profits lower than analysts’ expectations. But its acquisition in Egypt raised revenues and consolidated its position as the largest telephone network operator in Africa, in terms of market value.
Vodafone shares rose 1.3% to approach 77.40 pence during the trading session on the London Stock Exchange last Monday. It is noteworthy that the stock fell 8.1% this year, compared to a 2.6% rise in the Stoxx 600 index of European telecom stocks.
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