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Vodafone Posts Solid Q1 Revenue Growth, Confirms Full-Year Outlook

Vodafone Group Plc (VOD) shares rose to the top of the FTSE 100 Friday after the group posted stronger-than-expected service revenue growth for its fiscal first quarter Friday and reiterated its full-year sales guidance.

Vodafone said service revenues grew 2.2% on an organic basis to €10.282 billion ($11.9 billion) against an analyst forecast of 1.5% growth. Group revenue slipped 3.3% on a reported basis to €11.474 billion, the company said, but the figures in the current quarter exclude sale from Vodafone India following its merger with Idea Cellular earlier this year.