Vodafone's Performance Picks Up

Vodafone reported a 1.6% year-on-year rise in service revenue for the quarter ending March 31 on an organic basis. A 0.4% decline in Europe, was more than offset by a 7.9% rise in the rest of the world. The group-wide performance was a marked improvement on the previous three quarters.

The company said: "The economic impact of the COVID-19 pandemic in our markets, whilst uncertain, is likely to be significant. Whilst our business model is more resilient than many others, we are not immune to the challenges. We are experiencing a direct impact on our roaming revenues from lower international travel and we also expect economic pressures to impact our customer revenues over time. However, we are also seeing significant increases in data volumes and further improvements in loyalty, as our customers place greater value on the quality, speed and reliability of our networks." Source: Vodafone statement

With the release of Vodafone's annual results, Pringle Media has been able to update the report on the performance of Europe's big five telcos over the past decade. More here.