Vodafone beats Q2 sales growth, reiterates outlook

Vodafone beats Q2 sales growth, reiterates outlook

Vodafone Group Plc reiterated its full-year earnings guidance and reported second-quarter sales that beat analysts’ estimates estimates thanks to price hikes across its biggest markets, which may quell investor doubts about its outlook and dividend.

Organic service revenue in the second quarter rose 4.7%, the Newbury, England-based phone carrier said in a statement on Tuesday. That compared with analysts’ forecast of a 4.1% increase, according to the average of estimates compiled by Bloomberg.

The carrier said it expects adjusted earnings before interest, taxes, depreciation and amortization and after leases to remain “broadly flat” at €13.3 billion ($14.2 billion) for the fiscal year ending in March 2024, it said in the statement. That compares with analysts’ €13.2 billion forecast, according to the average of estimates compiled by Bloomberg.