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Actionable news in VOD: Vodafone Group Plc,

Vodafone Rings Up Lower Revenues, But Says Organic Growth is Steady

Revenues for British telecoms heavyweight Vodafone (VOD) , (VODPF) decreased sharply in the first quarter, the company said Friday, although on certain "alternative" measures, revenues appeared stronger.

The Vodafone share hit 230.85 pence ($3.06) in early trading, up 5.75% compared with Thursday's close

The dual accounting approach allowed CEO Vittorio Colao to tell the markets that Vodafone "continued to make progress during the first quarter," and that growth remains stable in Europe, despite a decline in the...