UK telecoms giant Vodafone reported higher third-quarter services revenue driven by growth in Europe and Africa as it reiterated annual guidance.
The company on Wednesday said service revenue grew 3.1% on a reported basis to €9.6bn. Total revenue was up 4.3% to €11.6bn.
Vodafone said it still expects adjusted core earnings of between €15.2bn – €15.4bn and adjusted free cash flow of at least €5.3bn.
Chief executive Nick Read, under pressure to improve the company’s struggling share-price performance, also addressed the presence of activist investor Cevian Capital on its share register, saying Vodafone was “committed to creating value for our shareholders through proactive portfolio actions and continuing to improve returns at pace”.
