Vodafone logs 2.2% growth in revenue, ahead of market forecasts

Numbers reflect a robust performance in Italy, Spain and an acceleration in demand in Turkey

Vodafone, the world’s second largest mobile operator, reported better-than-expected 2.2 per cent revenue growth in its first quarter, reflecting a robust performance in Italy and Spain and an acceleration in demand in Turkey.

It said the increase in organic service revenue, which beat analysts’ consensus forecast for a 1.6 per cent rise, boosted its confidence in its prospects for the full year, when it expects to grow core earnings by four to eight per cent.

“We made a good start to the year with a robust commercial momentum in Europe and accelerating growth in AMAP (Africa, Middle East and Asia Pacific),” Chief Executive Vittorio Colao said on Friday.