Telecoms operator Vodafone reported a better-than-expected rise in first quarter revenue as European and African services returned to growth.
The company on Friday said total revenue grew 5.7% to 11.1bn with Europe mobile churn 1.6 percentage points lower than the same period last year, although commercial activity had yet to return to pre-pandemic levels.
Reported service revenue grew 3.1% to 9.3bn and 3.3% on an organic basis against analyst expectations of 1.4%.
“I am pleased to report that we are back to service revenue growth in Europe, as well as Africa. This growth was broad-based within both Consumer and Business segments, with the vast majority of our markets contributing,” said chief executive Nick Read.
