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Vodafone Q3 revenues steady as Italy and Spain weigh on world's largest mobile phone company

By The Associated Press | February 09, 2012

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LONDON - Vodafone Group PLC, the world's largest mobile communications company, says revenues held steady in the final three months of 2011 as double-digit gains in India and Turkey were offset by slumps in Italy and Spain.

Revenue of voice, messaging, data and fixed line services in what is the company's third quarter rose 0.9 per cent on a constant currency basis to 10.6 billion pounds ($16.8 billion). Revenue spiked 7.6 per cent in Africa, Middle East and Pacific but fell 1.7 per cent in Europe.

The drop in Europe was led by an 8.8 per cent retreat in Spain and a 4.9 per cent fall in Italy.

Vodafone did not report earnings Thursday but confirmed its previous guidance that full year adjusted operating profit will be between 11.4 billion pounds and 11.8 billion pounds.

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