Vodafone Q3 2011/12 results: Economic slowdown

10 February 2012

Vodafone Europe’s underlying revenue growth declined by 0.7 percentage points in the December quarter, with its Southern European operations continuing to struggle in poor economic environments

Few competitors have reported their results so far, so it is hard to conclude on Vodafone’s competitive performance as yet, but we expect that the slowdown will prove market-wide

The company has stuck to its full year profitability targets, suggesting that strong cost cutting is making up for top line weakness

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