Vodafone reported a 2.6% rise in service revenues in the year to March 31st on an organic basis to 38.2 billion euros. However, in the final quarter of the financial year, the growth dropped to 2%. Nick Read, CEO of Vodafone said: "We are not immune to the macro economic challenges in Europe and Africa. But we are very well structured to deal with it." Source: Vodafone presentation.
Apple said its year-over-year revenue performance during the June quarter will be impacted by "supply constraints caused by Covid-related disruptions and industry-wide silicon shortages". It expects these constraints "to be in the range of 4 billion to 8 billion US dollars which is substantially larger than what we experienced during the March quarter."
"The Covid-related disruptions are also having some impact on customer demand in China," Apple added. "With respect to foreign exchange, we expect it to be a nearly 300 basis point headwind to our year-over-year growth rate. Additionally, we paused, all sales in Russia during the March quarter. This will impact our year-over-year growth rate by approximately 150 basis points."
In the March quarter, Apple's sales rose 9% year-on-year to 97.3 billion dollars, with product revenue up 7% and services revenue up 17%. The company said it now has more than 825 million paid subscriptions across the services on its platform, which is up more than 165 million from a year earlier. Source: Apple earnings call transcript
