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Vodafone: Solid European Recovery Is Reason To Look Again

Vodafone, (VOD), a British-based global telecom company with heavy exposure to both Europe and the developing world, posted some encouraging results. The company has long faced shrinking group revenue for over the last two years, but that finally ended this quarter. Have a look.

Courtesy of Vodafone Investor Relations, modified and updated by author

For the first time since at least 2013, Vodafone has returned to top line growth. This is very encouraging. European revenue declined by only 2.3%. Germany and the UK were largely responsible for this ongoing improvement, as you can see below.

(click to enlarge)

Courtesy of Vodafone Investor Relations

Revenue in Germany shrunk by only 1%, which is 2.4 percentage points better than the previous reported period. The UK improved by a whopping 3.9 percentage points and actually turned over to slight revenue growth. The story is similar in the Netherlands. Northern Europe is finally coming… Read More …